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Growing up, most children and young adults dont learn how to manage their finances.
Many schools dont offer the necessary classes or highlight the importance of financial intelligence.
In fact,only 23 statesrequire high school students to take a personal finance course to graduate.
Here are three things you shouldteach your teen to help them sculpt their financial future.
You must explain how wealth-building works and how to work toward financial freedom.
ONeal suggested going with your teen to open a bank account.
double-check they are a part of the process to gain some experience and knowledge about banks.
When youre young, its easy to accept money without realizing the long-term consequences.
Learning howdebt can derail your financesthrough accumulating interest is one of the most valuable lessons your teen can learn.
ONeal suggested teaching your teens how to be content with what they have at an early age.
Teaching your teenager to appreciate what they have and enjoy life without overspending will pay off immensely.
Not only will this be agreat financial lesson, but it will also contribute to their overall confidence.
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