How to teach your teen about finances

Savings Angel

It's essential to get your teen on track with finances before they're left to do it on their own in the real world. Here is a list of action items from Josh Elledge at

Maintaining an expenses bank account, understanding fees, and knowing your accurate balance.
Most young people don’t carry cash anymore, making it too easy to swipe a card and not keep track of the balance. Teach them how to use a handwritten check register or online banking apps for tracking expenses and maintaining a balance.

Growing a savings account for emergencies.
Choose a regular bank savings account or other account they can regularly add to. They will thank you when they have the money for an unplanned expense.

Paying bills fully and on time.
Teach them to plan ahead and know when every expense is due. This is a good habit for later in life.

Choosing and carrying insurance.
Even if your student is covered by your insurance, it’s important they know how insurance works, what they need, and how to choose a plan.

Getting the right student loans
With the cost of higher education increasing every year, the right loan is critical. I recommend They help simplify the process, answer all your questions, and get you options to choose the perfect fit your student’s needs.

Handling credit cards and offers.
Teach them to ignore credit card offers and only spend what they make. If they need to establish credit, look into secured credit cards with low credit limits (like $500) and are self-funded. They work to build a credit score without the risk of normal cards.

The best couponers save hundreds of dollars every month at the grocery store. However, extreme couponers can end up living very extreme lifestyles to get those savings. For over five years, has equalized the playing field – giving extreme savings to busy families who don’t have the time or ability to be an extreme couponer. Each week,’s over 70 angels combine over 2,000 products on sale at local grocery and drug stores with an enormous database of over 2000 different manufacturer coupons. These combinations result in our members getting access to over 300 products each week for 50% off or better. Simply log in, choose the deals you want, print or clip only the coupons you need, and save hundreds of dollars a month at regional and national stores. Our angels will personally work with you to craft a plan that will help you buy healthier food at lower prices – helping you keep $200 to $400 in savings each month.

Josh Elledge is chief executive "Angel" of, a website that teaches consumers how to save money through a free money savings video eCourse and podcast. SavingsAngel also provides hundreds of 50% off or better deals each week to members by matching local grocery and drug store sales with its free database of over 5,000 accessible coupons. A husband and father of three, he now appears each week on television, in eight newspapers, and a number of radio stations across the country teaching families how to cut their grocery bill in half using the Internet. Elledge created the technology found on through the need to save his own family’s money. Successfully able to cut his own grocery bill from $600 a month to less than $300 a month, his message has reached hundreds of thousands of families. is now growing rapidly throughout the country. You can watch a short video at that will explain more information about how to cut your own grocery bill in half with the help of!