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6 Money Lessons to Teach Your High School Senior

  • Writer: Art
    Art
  • Oct 5, 2020
  • 3 min read


The day is quickly approaching when high school seniors receive their diploma, hug their parents, and leave for college. It is an exciting and, sometimes, terrifying time for students and parents alike.

Many parents are concerned about their child’s ability to manage their finances. And the concern is understandable. Financially, the college years can be difficult for students. Student loan debt is now the second largest debt category in America, behind mortgages. Students graduate with an average above $37,000 in student loan debt. Credit card debt is pervasive as well. Twenty-five percent of college students graduate with $5,000 in credit card debt. Ten percent graduate with $10,000 in credit card debt.

Many students owe a significant amount of money before they even receive their first “real” paycheck. Some graduates don’t financially recover from their college years for an entire decade. So how can you, a parent, help?

Consider teaching your high school senior these money lessons:

1. Money is the result of work. To some degree, your child has relied on your ability to provide. And they may continue to do so through college. But your student needs to understand that money doesn’t magically show up in a bank account. Help them understand that behind every deposited paycheck are hours of work, sometime very hard or stressful work. Talk about how you work to provide for them. Money is something they should respect and be grateful for.

2. Money is finite. When the bank account hits zero, there is no more money to spend. To ensure that the account does not hit zero, a plan is needed (some call this a budget). Walk your child through the budgeting process. Use numbers and expenses that they may experience in college. Tell them that this is their plan to avoid debt.

3. Debt is a burden. Tell them about your experience with debt. Talk to them about the statistics above. Help them understand that those who have that type of debt often carry it for several years. Student loan debt is forcing college graduates to delay goals, like owning a home, for several years. You can easily graduate in your early twenties and still be paying the bill in your thirties. Let them know that credit card companies don’t give you money—they give you loans with very high interest rates and expensive penalties.

4. Instant gratification often leads to delayed financial health. There will be endless opportunities to spend money in college. Encourage them not to fall into the spending trap. Explain the power of delayed gratification—obtaining something great in the future by postponing something small in the present.

5. A little bit of money + A lot of time = A lot of money. Now is the time to start saving for retirement. Undoubtedly, retirement seems really far off to them. But this is exactly the reason why they should save now, giving compounding many years to work its magic. Show them the chart in this article. A little bit of money + A lot of time = A lot of money.

6. God is the owner and provider of everything. All money is God’s money. This necessitates good management of money. Share the Parable of the Talents. Show them how God provides us with money to ultimately advance his Kingdom. Show them how God uses our financial generosity to advance his Kingdom.

Set your high school senior up for future financial success. Help them avoid becoming another debt-laden college graduate. Help them to give generously, save wisely, and live appropriately.

45 Comments


tigegef280
a day ago

감동 받았습니다. 아주 드물게 유익하고 재미있는 블로그를 접하는 경우가 거의 없습니다. 귀하의 블로그는 중요합니다 ..먹튀검증

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foyitor277
a day ago

감동 받았습니다. 아주 드물게 유익하고 재미있는 블로그를 접하는 경우가 거의 없습니다. 귀하의 블로그는 중요합니다 .. 세븐벳

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foyitor277
a day ago

나는 그들이 매우 도움이 될 것이라고 확신하기 때문에 사람들을 귀하의 사이트로 다시 보내기 위해 귀하의 사이트를 내 소셜 미디어 계정에 추가하고 공유했습니다. 쇼미토토

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tigegef280
a day ago

이 때문에 제공하기 전에 적용 가능한 조사를 할 수 있다는 것이 진정으로 우수합니다. 그렇게하면 더 큰 문서를 공유 할 수 있습니다.슬롯 사이트

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foyitor277
a day ago

나는 그들이 매우 도움이 될 것이라고 확신하기 때문에 사람들을 귀하의 사이트로 다시 보내기 위해 귀하의 사이트를 내 소셜 미디어 계정에 추가하고 공유했습니다. 원벳원 주소

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