CPA Youth Financial Literacy – Money Basics for Teens

This session is for youth between the ages of 14 and 18 who want to get a head start in making good financial decisions before graduating high school and pursuing future goals.

Attendees will learn topics that will help them manage money responsibly – including budgeting, debt, financial goal setting, student loans, and more.

Learning Outcomes

• the importance of budgeting, knowing where money is being spent, and balancing spending and saving habits
• setting goals is important because they help make dreams tangible and achievable
• understand what credit is and how it works
• learn how debt can pile up and have negative consequences on future financial plans
• understand the difference between good debt and bad debt, and the value of having a good credit rating
• understand student loans and loan repayment

Session Outline

• the importance of budgeting
  • wants vs. needs
  • budgeting apps
• goals
  • changing your spending and saving habits to help achieve financial goals
• credit cards and debt
  • what is a credit card and how does credit work?
  • what is debt?
  • good debt vs. bad debt
  • what are the consequences of not paying your debt?
• student loans and lines of credit
  • student loan debt
  • paying back your student loan
  • bankruptcy
• tools and resources
• Q&A

Learning Materials

• Budget worksheet