Developing financial capability is an important part of preparing for the transition to adulthood. Financial capability is the capacity, based on knowledge, skills, and access, to manage financial resources effectively. In other words, it is the ability to make wise decisions about using and managing money. Financial knowledge and habits developed in the teen and young adult years can have a lasting impact on their future, and families have an important role to play in young people’s development of financial capability
This brief provides families with suggestions and resources on how to talk with youth about money and assist them in learning and practicing financial management skills through their interactions at home. In addition, the brief includes suggestions for talking with youth about disability benefits and earnings.
