If your teen is heading off to college soon, you’re probably knee-deep in checklists: dorm essentials, meal plans, class schedules. Probably some graduation parties too!
But there’s one crucial conversation that’s often missed—and it’s not about textbooks.
It’s about money.
Yep. It’s time to talk to your teen about money—before they’re out on their own and learning the hard way.
Why Now Is the Perfect Time
College is often their first real taste of financial independence:
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They’ll have to budget (even if it’s just dining dollars).
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They may get their first job – or their first credit card.
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And they’ll likely be managing money without your daily guidance.
This isn’t about scaring them. It’s about equipping them.
How Do I Talk to My Teen About Money Without the Lecture?
Try these real-life, respectful strategies that work (yes, even if they roll their eyes at first):
1. Start With a Story, Not a Rule
Tell them about your first big money mistake – or what you wish someone had told you at their age. They’ll listen more if you’re not preaching. I remember when I landed on the college campus, there were vendors everywhere with tables, eager to sign us up for credit cards. They had all sorts of freebies to entice us. I recall one was a frisbie – yep, just a frisbie, but everyone wanted it.
2. Set Expectations About Spending
Who’s paying for what? Be clear about what you’ll cover and what’s on them… whether it’s gas money, takeout, or sorority dues. And break it down. Don’t assume they are wrapping their head around this.
3. Teach the 3-Account Method
Encourage them to set up three separate bank accounts (or sub-accounts):
✔️ Spend (for everyday stuff)
✔️ Save (for goals or emergencies)
✔️ Give (even a small % builds a heart of generosity)
4. Explain Credit Without Fear-Mongering
Talk about how credit works, how interest adds up, and how it affects future goals (like buying a car or renting an apartment).
👉 Check out this Guide to Credit
5. Offer Support, Not Control
Let them make small mistakes now while the stakes are lower. Then talk it through—without shame.
Want Your Teen to Be Money Smart, Not Money Stressed?
This isn’t just about dollars. It’s about dignity, independence, and wisdom.
Talking about money with your teen sets them up for a future of confidence, not confusion.
And who knows? It might even bring you closer.
Want Help Starting the Conversation?
If you’re not sure how to talk to your teen about money—or what to even say—I’d love to help. I’ve had this conversation with my own kids (and plenty of clients!), and I can help you make it feel more like a heart-to-heart than a lecture.
💬 Message me on social @1ElizabethRose if you want some support or sample questions to get started. Let’s launch them with confidence.