Money Smarts Blog

Getting a teenager to plan for their future — or do their homework, or take a shower or, well … even just listen to you — can be like nailing Jell-O to the wall.

It’s a challenge, but not impossible. But the earlier you start involving your kid in your own financial life and money conversations, the more likely they’ll be able to start forming responsible money-saving habits of their own.

We caught up with Moline teenager, Avery H., to chat about the money goals he’s set for himself.

As a 15-year-old, how do you make money?

I get an allowance from my mom every two weeks for doing chores around the house after school. I clean my room, put laundry away, mow during the summer, feed the cat - things like that. I make sure to save half my allowance, then usually spend half on something I want, like v-bucks for Fortnite. If I want extra money, I’ll ask my mom or another family member if there are extra chores I can do or figure out a way to make more money. When it snows, I try to go around the neighborhood and shovel driveways.

Do you know what your future education looks like and how you might pay for it?

I plan to go to college after high school, but I’m not sure “what I want to be when I grow up.” I just turned 15 in December and have started looking for jobs around town since I’ll be getting my license next year. I can get a work permit from my school that’ll let me work somewhere that hires teens. Once I start earning my own paychecks, most of it’ll go into my savings account so I can keep saving for those big things in my life, including college.

What are your savings goals?

I’ve already saved about $350, but I’d like to get to at least $1,000 by the end of this year. That way, I’ll be able to help pay for my car and have money for gas and things like that. Don’t tell my mom, but she’s a great role model because in the last two years, she bought our house all on her own. She figured out where she needed to stop spending and how much she needed to have saved up to make it all work. I think seeing how hard she worked made me want to work hard for what I want, too.

PRO TIP: BALANCE BUILDER SAVINGS CREW Balance Builder Savings Crew is a program designed especially for young people (18 and younger) to help teach them about finances in a fun way they’ll understand. As Savings Crew members, kids and teens will receive saving and budgeting tips and tricks tailored for their age group (with some special offers along the way). Need some birthday or middle school graduation ideas? Give the gift of savings!