Financial Planning — Life at 18 on a Budget
The teen builds a hypothetical monthly budget for living independently at 18 — researching real costs, making trade-offs between needs and wants, understanding opportunity cost, and confronting the realities of financial independence. This builds financial literacy, long-term planning skills, and a grounded understanding of adult economics.
Free to do together whenever you like.
What you'll need
Paper/notebook, calculator or spreadsheet app, and a device to look up local prices (rental listings, grocery costs, etc.). The parent should know approximate local costs for rent, utilities, and groceries but let the teen research and discover the numbers. This works best when the teen encounters real numbers rather than being told them.
How it works
The 3-step guide, with what to look for at each step, is for signed-in parents.