Ep 244: Financial Habits for Savvy Teens

Berna Anat, author of Money Out Loud, helps us unpacks the tangle
of personal finance and psychology to better understand our
financial habits. It’s never too late to change money habits for
the better and pass on healthy financial behaviors to our teens!





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Full Show Notes


Raising teenagers in today's complex financial landscape is no
easy feat. With an abundance of conflicting advice and the unique
challenges presented by the digital age, parents often find
themselves unsure about how to approach money matters with their
kids. This episode challenges the traditional wisdom around
financial literacy and offers parents fresh, actionable
strategies for discussing money with their teens.


This week, we're joined by Berna Anat, a financial literacy
expert and the vibrant voice behind Money Out Loud. As the
daughter of Philippine immigrants, Berna's own journey from
silence to education about personal finance forms the bedrock of
her approach to financial education. With a philosophy that
stresses understanding your money story before attempting to
rewrite it, Berna's insights are not just practical—they're
transformative.


Understanding Your Money Story


It often begins with us—the parents. Berna encourages us to delve
into our own experiences with money, acknowledging that our
earliest influences shape our financial behaviors today. By
confronting and understanding these narratives, we can model
financial mindfulness and resilience for our teens, setting the
stage for honest and productive discussions about money.


Budgeting Myths Busted


One-size-fits-all budgeting advice doesn't cut it anymore. Berna
debunks the popular 50/30/20 budgeting rule and advocates for a
more flexible, personalized approach to managing finances. She
emphasizes experimentation and adjustment as the keys to finding
a budgeting system that resonates with your family's unique needs
and goals.


Strategic Credit Use


Berna unveils a lesser-known strategy for giving teens a
jumpstart on building a healthy credit score, stressing the
importance of evolving beyond scare tactics to a more nuanced
understanding of credit. The episode breaks down how to introduce
your teen to credit cards and loans in a way that empowers rather
than intimidates.


Fostering Financial Empathy and Activism


Ultimately, our financial decisions ripple outwards, influencing
not just our immediate family but the broader community and
world. Berna discusses how to instill a sense of financial
empathy and activism in teens, encouraging them to think
critically about where their money goes and what it supports.


Key Takeaways:
- Insights into unpacking your personal money story and its
impact on your parenting.
- Practical advice for moving beyond traditional budgeting norms
to find what works for you and your teen.
- Strategies for introducing teens to credit in a responsible and
empowering way.
- Ideas for nurturing financial empathy and activism in teens,
encouraging them to make thoughtful, ethical financial choices.


Whether you're struggling to find the right way to talk about
money with your teen or looking for ways to enhance their
financial literacy, this episode offers valuable perspectives and
actionable tips. Join us as Berna Anat shares her revolutionary
approach to making financial education accessible, engaging, and
effective for today's families.


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to stay updated on our latest episodes aimed at helping parents
navigate the complexities of raising teenagers in today's world.





Sponsored by Equip: Eating disorder treatment
that works—delivered at home. Visit equip.health/talking for more
information, and a free consultation.