The secret of helping people learn to manage money is timing. Young people’s mindsets will be very differently receptive to the same messages at different times of their lives. Research suggests that key life changes are crucial points at which people can learn, and need to learn, new habits and skills.
Those significant periods will vary from person to person and their own circumstances, relationships and growth. But there are some obvious ones to watch out for that will always be key events for young people. They could be moves of school or college, birthday milestones, new entitlements, getting a part-time job, moving home, and obviously planning a move to independent living. All are potential times when “what to do about money” should come into focus. These will be potentially fertile times to be raising and responding to money management issues.
Use casual opportunities such as everyday conversations and incidents to pick up on what has young people’s attention. Focusing financial education makes it more relevant and meaningful.
