Career Planning...for Kids and Teens

Have your kids ever said to you “Just go get some money from that machine where you put in
your card in”?  It seems like kids really do think that money grows on trees…or at least they print it at the ATM.

This is a great time to talk about how you earn your money. You can talk about how you (and/or your spouse) go to work and you get paid money in exchange for the work. Then, you deposit the money in the bank for safekeeping until you need to use it to pay the bills. Also, talk about how you take part of your salary and set it aside for savings and longer-term goals. For older kids and teens, you can have a full discussion on payroll and income taxes. (Taxes – ugh!)

You can then continue your discussion to careers. Talk about how you picked your career and
what type of training or education you needed. A great website for kids and teens to explore careers is the Bureau of Labor Statistics - Career Information. It starts by asking the question “What do you like?” and then shows careers connected to their interests.

It’s never too early to have your child start thinking about their interests, hobbies and special talents or skills. This is the first step for them towards career planning.  Their career choice will have an obvious impact on their salary expectations. You can help your child research the median salary for various occupations on the BLS website.

When it comes to learning about managing your money, there are two sides to the equation: income (money coming in) and expenses (money going out). Most times when we teach our kids about money, we focus on the spending and saving parts. So, don’t forget to talk about how you earn your money and your career. It’s a perfect way to start a dialogue about career planning with your kids and teens!