You’ve heard of money hacks before, but probably not like this. For the teenagers and parents of teenagers listening, this episode will give you everything you need to make yourself, or your child, financially successful, straight out of high school. Most parents think that a strong financial foundation is built through allowances, debit cards, and making their child get an after-school job. While none of that is bad advice, it doesn’t leave the teenager with a sense of financial security or knowledge of how to manage money.
Thankfully, the Sheek Freak himself, Dan Sheeks, is back on the show to give his “ultimate teen money hack for parents.” This strategy has been built through years of teaching children how to manage and make money and is one of the easiest ways to get teens on the correct financial path. This isn’t an overcomplicated strategy, but it will take some buy-in from your teen. What they’ll get out of it is far more independence, responsibility, and the ability to save and invest for a better future.
But Dan isn’t the only guest on today’s episode! We also have Carl Jensen and Claire Jensen joining us! Claire is fifteen years old, putting her in the perfect position to take ownership of her finances. She also asks some insightful questions your teen might ask when you try out this strategy. Thankfully, Claire is a fan of Dan's system, and she encourages all the parents (and teens) out there to try it too!
In This Episode We Cover
The “ultimate teen money hack” every parent should try with their high-schooler
Teen debit cards, credit cards, and building up basic frugality
Teaching your teen to “pay yourself first” through strategic spending and investing
Letting your child make mistakes now, so they don’t make life-long mistakes later
The perfect age to implement this strategy and when it matters most
Common questions your teen may ask and getting them excited about money management
And So Much More!
Links from the Show
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Mile High FI Podcast
1,500 Days to Freedom
Escaping The Rat Race Before Your First Job w/ Dan Sheeks
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