Money and finance 11+

The teenage years can be difficult, and money matters can seem insignificant. But good money management is important for them to learn financial independence as they get older.

Money matters for teens

The teenage years are full of change - new responsibilities, growing independence and big decisions about the future. While money might not seem like a top priority to your child right now, learning how to manage it is a vital life skill. Helping your teen understand the basics of finance can set them up for confidence, independence and fewer financial mistakes later on.

Why money management matters

As teens begin to earn, spend and save their own money - whether through pocket money, part-time jobs or birthday gifts - they start forming habits that can last a lifetime. Without guidance, they may overspend, struggle to save or fall into unhealthy patterns. Teaching financial literacy early helps them:

  • understand the value of money
  • make informed spending choices
  • avoid debt and financial stress
  • build saving habits and future goals
  • feel more confident and independent

Top tips to help your teen build financial skills

Here are some practical ways to support your child’s financial learning:

  • talk openly about money – share how you budget, save and make decisions
  • encourage saving – help them set goals and use a savings account or jar
  • teach budgeting – show them how to plan for spending, saving and giving
  • discuss needs vs wants – help them think critically about purchases
  • introduce digital tools – apps and online banking can help track spending
  • support earning opportunities – part-time jobs or chores can build responsibility
  • explain the risks of debt – talk about credit cards, loans and buy-now-pay-later schemes
  • celebrate smart choices – praise thoughtful spending and saving decisions

Building independence

Let your teen take the lead with small financial decisions. Whether it’s managing their own lunch money, saving for a concert ticket or choosing how to spend birthday cash, these experiences help build confidence. Mistakes are part of learning - what matters is the conversation that follows.

Resources

MoneyHelper – How to help your teenager learn about money
The Mix – Money Advice for Under 25s – support for teens and young adults on money, debt and budgeting
Childline – Money Worries – help for young people feeling stressed about money
Barclays Bank – Tips and tricks to have better conversations about money
King’s Trust – Worrying about money? Get help
The Citizens Advice Bureau can help with benefit and money queries for you or your child.
The Citizens Advice Bureau - find your local branch

Money might not be the most exciting topic for your teen, but it’s one of the most empowering. With your support, they can learn to make smart choices, avoid common pitfalls and build a healthy relationship with money that lasts a lifetime.