The Rich Teen

Odds are you’ve never thought of your teen as “rich”.   In fact, you are probably wondering, as I did, if my child even understands the “value of a dollar”.  Oh how I wish I had a nickel for each time my mom said that to me. 

Does any of this sound familiar?  If so, rest assured it is a conversation going on all over the country for parents of teens. 

Note: at the bottom of this article you will see 3 steps to helping your child move the needle in this huge learning category.   

But more to the point, let’s get to that word “rich”.  Whether rich is having a cool million in the bank, or having enough to keep yourself clothed and fed, it’s all wrapped up in the same mindset:  controlling your money. 

Financial Follies

If I could wave my magic wand and get what I want for you out of this article, it would be to not only educate and convince you of the importance to starting your...

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Ask Your Teen This Question

First:  Full transparency here.  After you ask this question, you might not like the answer, but then again, you might love it.  After asking you will learn so much that you will be glad you asked.

Second: You can modify this question to cover an unlimited supply of topics.  You can re-purpose it at nearly any time you’d like.

Third: Few parents have probably ever asked this type of question before.  It’s rather simple in concept.

Fourth: Our teens (though this question can work at any age) are already “conditioned” to respond.

The question? 

“Honey, what grade would you give me on ___________?”

Our teens receive/earn grades every week day, and probably several times per day. They understand the concept of grades. They probably don’t like getting them, but it shows them where they are with respect their mastery of the topic involved.

Wouldn’t we parents like to know how we are doing on a...

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Gifts Worth 3x their Cost

Well, it is here.  Lists. Gifts. Shipping. Traffic.  Returns.  Receipts.  That busy shopping season.  The evergreen dilemma of "what do I get them".  We all look for meaningful gifts for our "nearly-flown" kids.  They are almost "gone" and you have so much you still want to teach them.  But hold on.  

Here's a fun .  . . and dare we say it . . . slightly sneaky way to slip in a bit of knowledge AND give them something they will enjoy.  We certainly don't want to break the bank either. 

What about giving something worth 2x or 3x or priceless?   Amazing gift ideas are below that won't cost you that arm and a leg - but will deliver a powerful parent punch.  (Note: JellyGeneration is not affiliated nor compensated for any website, company, or product we list below. These are suggestions on where to start your gift process – not specific recommendations)

 #1. Why not give $ and for part-time...

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3 Ideas to make Winter Break Count starting NOW - for Your "Nearly Grown" child

JellyGeneration knows parents & students have more “need to know” than time. Join them on their journey as they break down financial and legal issues into practical and usable information.

Never Let a Good Crisis Go To Waste

Even a political phrase can be used in our daily lives. In fact, the upcoming holiday season offers high school and college-aged students just such an opportunity. We all crave control over our own financial destiny and the last two months of the year present not only a large need to get that control, but unparalleled possibilities in how to achieve it. Everyone faces how to avoid a cash crunch during the holidays. Time Inc., reminded us of why millennials see even more enticing advertising than other buying groups: The 4 Most Sought After Shoppers

The millennial generation gets a lot of attention from retailers. Americans in the mid-teens to late 20s represent the country’s largest demographic, so it’s understandable that...

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Now What?

After working with countless high school students on potential career research, here is what I can report to we parents:

  • Our kids do have amazing career dreams
  • They have no idea what that potential career really requires
  • They are often shocked when they find out

 What happens then?

  • Are they heading in the wrong career direction?
  • Can they afford the career they are aiming for? (from the salary to the yrs of school ahead)?
  • Do they waste 2-4 years at the wrong college?

 What’s a parent to do?

1st:  Make a list.
As you probably know, our big parent move/wish is for every parent to make a “list” of things you want your “nearly flown” to experience and learn before they fly off.  It’s that gap between what they are learning in school vs. what we teach naturally at home that often trips we parents up.

Getting your child to research potential careers pays huge dividendswhen you place it on your “to-do” list for your...

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2 Money Lessons From A Deli Cashier

I was in a local deli recently. 

What did I have with me?  On my tray was a book covering financial concepts and savings to read as I ate.

As I paid for my lunch, the cashier (in his early 20’s) noticed the book and asked “why are you reading that?”

It's an easy answer for me, “the more I learn, the more I can share, and hopefully help other parents with less time that have “almost flown” kids along the way.”

My new-found cashier-friend replied “can I tell you my story?”  By now I am thinking, gosh, I’ll never get to eat my lunch and read my book but I am the friendly type and said “I’d love to hear.” 

His story?
(very abbreviated version) 
“I started saving in my teens.  I’ve got money in CD’s, the 401K with this deli company, I work two jobs and…and… and… and...”

(Remember, he is behind the cash register and in his early...

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Take the Teen Money Challenge !

Parents, are you looking for a way to teach your teen how to manage money?
Read On . . . 
 
Teen: “Can I have $20?”
Mom: “Honey, I gave you $20 just two days ago.”
Teen: “But, this, that, and the other thing” excuse.
Mom: “But what about that part-time job?
Mom (thinking to herself): I’ve got to get a handle on teaching him/her spending control and fast.

This conversation, with slight modifications, can be heard in households with teens everywhere.

And "this, that, and the other thing expenses" are coming. . .

How can you use this to your advantage? (be sure to read all the way to the bottom for a mock-agreement you can adapt)

Do The Parent Mental Money Flip and Take The Challenge

Actually, spending can bring opportunity.  Perhaps they have a job. Perhaps they have an allowance for doing things around the house. Perhaps none of these applies and you have them do things around the house but choose to give them...

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About the 2 Items in Warren Buffet's Wallet. Is he correct?

Have you ever wondered what’s in billionaire Warren Buffett’s wallet? 

I hadn’t. 
But yet…I clicked on an article that told me his 2 items.
 
However, the author of the article “buried the lead”. 
As it turns out, Mr. Buffett has habits which had me cheering wildly as I read them.

Here are just a couple of points about Mr. Buffett you might want to know.

  • He drives an “average” car.
  • He has lived in the same house for 60+ years, bought for $31,000.
  • 98% of the time he uses cash when purchasing items.

Wow. 

Burying The Lead

I was pleasantly surprised by what I learned.  No, driving a Ferrari or moving to a new home every 5 years isn’t wrong.  But “burying the lead” is that this billionaire lives semi-frugally when he could buy almost anything he wanted.

How Many Times Have You:

  • gone clothes shopping (shoe shopping, groceries, etc.) and didn’t remember what you needed?...
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Graduating? Moving? Here's Decision Help

A Tale of Two Cities

It's no surprise that not all cities and their living costs are equal.  It then follows that salary offers and their buying power vary greatly by city.  

Sadly few of us moving to a new city stop and think about the wide swings in standards of living we might encounter.

New graduates contemplating two different cities in which to live don't consider this phenomenon either.  

The Critical Question?  
How much buying power does one job offer have over another?
Wouldn't it make sense to consider this very question before and during salary offers and negotiations? 

Do you want to avoid mistakes, create a leg up on negotiation tactics?  Then this article is tailor-made for you or your upcoming graduate.

Do you want to know what the cost of living is in any particular city?  Then this article is also for you.  

The cost of living varies GREATLY between cities.  
One mom of our students said:

"My child was so excited to be...

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Still waiting on "that" college to accept your teen? Here's a Plan B to deploy

The "accepted" phone call didn't happen.  The email didn't come. 
The "acceptance" letter didn't come.  The website portal didn't update.
 
Other seniors were getting acceptances.  
But at our house? 
Well, time marched on....at our house.
 
This scenario plays out - everywhere.  It played out at our house.  We've seen it play out at many a student's house.  What do you do as you impatiently wait?

 Consider a Plan B Idea

Each school and situation is different, of course.  Consider these ideas.  

Point A:  It Isn't Over.

If your teen is still waiting to hear, then the positive is that they are still waiting to hear. It isn't a NO, it's a not yet.  That's the good news.  Every school operates differently, and uses different parameters on how many offers to extend.  Just remember, your teen is in the "not yet" category until you hear differently.

Point B: Send another Recommendation...

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