How do I teach my teenager budgeting and financial responsibility?

Give teens increasing financial autonomy with guardrails: a debit card with spending limits, responsibility for specific expenses (gas, entertainment), and involvement in family budget discussions. Teach the basics: income vs. expenses, saving for goals, the danger of debt, and how interest works. Let them make small financial mistakes now — overspending on something they regret is a powerful and low-stakes lesson. If your teen has a job, discuss opening a savings account. Consult your pediatrician about age-appropriate responsibility levels.