Ep 73: Raising Kids Who Understand Money: Teens + College Students
by Financial Design Studio, Inc. / April 9, 2026As your teen or college student begins to make their own money, you want to continue to teach them wisdom with their money. In this episode, we cover finding a job and eventually a career, banking and credit cards, and how plan for big savings goals.
Take a listen right here, or watch the video on YouTube!
Related Links for Raising Kids Who Understand Money
Helpful links from FDS
- Podcast: Ep. 72. Raising Kids Who Understand Money: Ages 0-12
- Podcast: Ep. 36. How to set your kids up for success
- Podcast: Ep. 38. Helping Kids Make College Choices
- Article: Estate Planning Checklist
- Video: How to Find Scholarships
- Video: How to Use a 529 College Savings Plan
Lisa’s Recommendations:
- Learn more about 4H, the national club that she mentions.
- The Consumer Math for Real Life Curriculum that she teaches with.
Michelle’s Recommendations:
- “Give, Save, Spend” personal bank.
- “Give, Save, Spend, Invest” personal bank.
- USBORNE Lift-the-flap Questions and Answers About Money
- USBORNE Understanding Money For Beginners
- USBORNE Economics for Beginners
- USBORNE Managing your Money
- USBORNE Understanding Business
Timestamps
1:35 How to start earning money as a teen
4:25 How to find a career as a college student
9:43 Introducing them to banking, credit cards, and debt
17:18 How to budget and save for goals
28:58 Should parents pay for college, camps, etc?
31:48 How to save for retirement, house purchase, etc.
41:18 How much support is too much from parents?
45:08 What have you learned teaching kids about money?
Credits for Episode 73
Host: Michelle Smalenberger, CFP®
Guest: Lisa Gottschalk
Executive Producer: Anna Lewis
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Recommended Reading
Ep 74: Is Your Marriage Ready for Retirement?
In this episode, Michelle interviews Dave and Diane about how they built their finances together and are now preparing to retire together.
Ep 72: Raising Kids Who Understand Money: Ages 0-12
In this episode, we explore how even at ages 0–12, you can be raising kids who understand money, and way you can instill good habits!
Financial Design Studio, Inc.
We are financial advisors in Deer Park and Barrington, IL. A team with a passion for helping others design a path to financial success — whatever success means for you. Each of our unique insights fit together to create broad expertise, complete roadmaps, and creative solutions. We have seen the power of having a financial plan, and adjusting that plan to life. The result? Freedom from worrying about the future so you can enjoy today.