This section is about kids and teenages.
It would benefit both if they were to learn about finances at an earlier age. Getting an allowance or a job is a chance to learn what to do with money.
Having an allowance means watching how much is spent and what to spend it on. It can't all go towards movies and burgers.
Some kids will want to go to college but their parents can't afford to pay the costs. Therefore the parents, kids or both will have to figure out how to create enough funds to cover the costs.
How to get a job while going to school. How to get a summer job and what to do with the income.
How to get a scholarship, grant or loan.
How to figure out what the real costs of further eductaion are and how to cover them.
Kids that take on babysitting, mowing loans, working at kioks should know what to do with the income rather than just spending it.
Where should kids save their money.
Some kids are so bold as to test their skills in investing on free investment platforms.
Ways for kids and parents to save up for further education - gov't tax savings programs like RESPs in Canada
What to do with allowances, wages, tips, bonuses, gifts,
Budgets for kids (cutting lawns, helping around the house, maybe some babysitting) will be very limited but a great life long lesson. They will be kept to basic income, a few savings and a few expenses.
Budgets for teens will be a little more complicated due to a few more savings and expenses. It will depend on what kind of savings are wanted and how to keep expenses under control.