As the parent of a teen (or soon-to-be-teen), you might feel overwhelmed at the thought of them “leaving the nest” and stepping out in the REAL WORLD. You probably have a lot of questions too:

Will they be happy? Will they make friends with kind-hearted, good people?

And most importantly: Will my teen have the life skills they need to survive and thrive on their own?

Getting them ready for adulthood is a huge job – and as we all probably know too well, important personal finance and career skills aren’t really taught (or taught enough) in high school. If this is true for your teen, don’t worry about it – there are a lot of practical steps you can take to help them succeed now, and hopefully for the rest of their lives!

So, without further ado, here are 5 skills your teen will need for the real world – and how you can help them learn those skills – so they can take on whatever challenges come their way!

#1 Investing

The reality is most teens don’t think they need to invest until way later in life; and unfortunately some of them don’t even know what investing is! Let’s be honest, though. Opening a retirement savings account probably isn’t high on your teen’s priority list. In reality though, NOW is the best time for them to start how to build wealth the right way – so they end up with a nice retirement fund, and awesome freedom that comes with it!

Things like stock mutual funds or exchange-traded funds (ETFs) might sound intimidating to most people, but, when they’re explained in simple, easy terms, I guarantee your teen will be excited at the prospect of a little bit of investing & smart saving now will lead to a huge payoff in the long run.

#2 Understanding Insurance

Insurance – that’s another fun topic we all love to talk about, right? Realistically, your teen might not need insurance now, but once they start driving their own car, renting their own apartment, and going through a bunch of other “adulting” milestones, they’ll definitely need to know that it can protect them. After all, in the real world, you have to expect the unexpected, right?!

When your teen understands which kinds of insurance to get, and which ones to avoid at all costs, you can rest a little better knowing they’re both informed and equipped. Plus, they’ll feel alot better knowing they have that safety net if they ever need it.

#3 Handling Conflict

Conflict is an inevitable part of life, but knowing how to handle it constructively is crucial. Whether it’s a disagreement with a friend, a misunderstanding with a coworker, or a difference of opinion with a partner, conflict resolution skills can make a significant difference in maintaining healthy relationships.

Imagine your teenager is working on a group project with classmates who have different ideas about how to proceed. Rather than arguing with them or giving in completely, your teen can apply active listening and empathy. This will help them understand others’ perspectives and find common ground, which can contribute to a collaborative solution, that is satisfactory for everyone involved.

Your teen should learn these steps for recognizing and resolving conflict:

• Take responsibility. Don’t hide from problems.
• Identify mistakes. If you know you made one, be proactive about owning up to it.
• Stay calm. Don’t get caught up in the heat of the moment and say something you’ll regret later.
• Listen. Pay attention to the other person’s feelings.
• Commit to resolution. Do everything you can, within reason, to make the situation right.
• Follow up. Check back in to make sure everything’s truly resolved.
• Develop good policies. In business and life, be clear about your own values and boundaries.

Whether they end up running their own business, leading group projects, or simply navigating relationships, your teen will be thankful they learned how to handle stressful situations with confidence and ease.

#4 Learning to Reject Loans

In an era where credit is easily accessible, teaching your teen the importance of responsible financial habits is invaluable. Discouraging unnecessary loans and promoting financial independence will set them up for a stable future.

Your teenager might be tempted to take out a loan to purchase the latest gadget or go on an extravagant vacation. Instead, encourage them to save and plan for such expenses. By illustrating the long-term consequences of accumulating debt and emphasizing the value of delayed gratification, they can learn to make wiser financial choices. They’ll be able to say no to loans forever and hopefully graduate and get on in life without anything weighing them down.

#5: Creating Resumes

You should never underestimate the power of a well-written resume! Your teen will surely need resume-building skills throughout their life – and not just in the job market – but also for college, internships and other applications.

Crafting an impressive resume is essential for standing out in a competitive job market. It showcases their skills, experiences, and potential to prospective employers.

Let’s say your teenager is applying for a part-time job. They can create a compelling resume by highlighting their relevant skills and experiences, such as volunteering, extracurricular activities, or internships. By tailoring their resume to each specific job application and showcasing their unique strengths, they increase their chances of securing an interview.

A few key points to remember are to keep their resume to one page in length, and to write a short personal statement at the top, showcasing their passions and skills; and of course include reliable references. Also, please make sure they know not to use any crazy fonts or designs. Remember, simple is always best!

Preparing your teenager for the real world is an ongoing process, and these skills will undoubtedly benefit them as they navigate the challenges and opportunities that lie ahead. By helping them develop conflict resolution skills, understand the implications of loans, and create impressive resumes, you are equipping them with valuable tools that will serve them well in their personal and professional lives.

Remember, learning these skills takes time and practice. Encourage your teen to embrace challenges, seek opportunities to apply these skills, and always strive for personal growth. With your guidance and support, they will become confident, capable individuals ready to seize the exciting adventures that await them in the real world.

Happy empowering!