Want to encourage your teen to learn about money and saving?
2018 Winterby Marsha Goetting
MSU Extension Family Economics Specialist
Encourage him/her to Get Smart About Money. The National Endowment for Financial Education (NEFE) has several courses. You can start with Money Basics or choose My Earning Plan, My Emergency Fund Plan or My Financial Well-Being Plan, among others. https://www.smartaboutmoney.org/
The United States Mint has fun for kids and tips for teens with fact sheets on savings, a savings calculator, the 5 Step Save/Spend Plan, When Will You be a Millionaire, and more. http://www.themint.org/teens/saving-tricks.html
Research shows that those with a savings plan are more likely to spend less than they earn and save the difference than those without a plan. The American Saves for Youth savings initiative provides an opportunity for parents to motivate, communicate and encourage youth to take action. https://americasaves.org/learn-more-about-us/2-uncategorised/1129-america-saves-foryouth-savings-2
The MSU Extension Track’n Your Savings Goals register shows youth how to track progress towards achieving specific savings goals – all in one place. At any point in time they can see the amount they have accumulated towards each goal. It’s designed for those who want a simple way to track their savings without having to spend a lot of time and hassle doing it. Special savings registers and a MontGuide are made available at no charge for Montana residents through gifts from the First Interstate BancSystem Foundation and the Montana Credit Unions for Community Development, now known as Montana’s Credit Unions.
MontGuide http://msuextension.org/publications/FamilyFinancialManagement/MT200303HR.pdf
Register https://store.msuextension.org/Products/Trackn-Your-Savings-Register__EB0164.aspx