With December right around the corner, it’s the perfect time for families to reflect on their financial habits and set goals for the upcoming year. Financial resolutions aren’t just for adults—they’re a valuable way to teach teens the importance of smart money management. Whether it’s saving for a big purchase, learning to budget, or planning for future education, setting financial resolutions as a family can set the stage for long-term financial health.

Here are five ideas to get your family started on making 2025 a year of financial empowerment:

Just as you would go to the doctor for a yearly health check, a financial check-up is crucial. Review your household’s spending and savings from the past year with your teen. What went well? What could be improved? By evaluating your financial health together, you help your teen build awareness of how money flows in and out of a household.

Encourage your teen to do the same for their personal finances, whether they have income from a part-time job or an allowance. Learning to assess their own spending will prepare them to take on bigger financial responsibilities in the future.

One of the best ways to make financial resolutions stick is by setting SMART goals: Specific, Measurable, Achievable, Relevant, and Time-bound. Work with your teen to identify financial goals that align with their interests and needs, whether it’s saving for a car, a summer trip, or their first year of college.

For example, instead of “I want to save more,” a SMART goal might be “I will save $500 by next July by setting aside $50 from each paycheck.” This approach helps teens focus on actionable steps, making their goals more attainable.

Creating a budget can be a fun and educational family activity. Sit down together and map out your household income, expenses, and savings goals. Involve your teen in the process by letting them contribute ideas and suggestions. You might be surprised by their insights!

This exercise teaches teens the real-world impact of budgeting and helps them understand the trade-offs that often come with financial decisions. It also sets a great example of transparency in family finances, fostering open discussions about money.

One of the most important financial habits anyone can learn is preparing for the unexpected. Discuss the importance of an emergency fund and work with your teen to set up one for themselves, even if it’s modest to start. Explain how this fund can cover unexpected costs like car repairs or medical bills, helping them avoid debt.

For your household, you might set a resolution to add a certain amount to your emergency fund by the end of the year. Encouraging your teen to do the same—at their own level—sets them up for long-term financial stability.

As a family, it’s also important to discuss the role of generosity in your financial plan. Teach your teen the value of giving—whether it’s through donations, supporting a cause, or volunteering. Understanding how to incorporate philanthropy into their financial resolutions helps them see that financial well-being isn’t just about saving for themselves, but also about contributing to their community. (Did you know that SecureFutures is 100% privately funded? We do not charge schools or students for our programs and rely on the generosity of corporations, foundations, and individuals. Contact Brenda at brenda@securefutures.org or at 414-310-5920 to learn more).

By working together as a family to create financial resolutions, you can create a sense of shared responsibility and accountability. These resolutions not only set your teen up for financial success but also strengthen their confidence and independence when it comes to managing money. As we approach the new year, there’s no better time to empower your teen with the tools and knowledge they need to thrive financially. Here at SecureFutures, we’re excited to continue supporting families in building a brighter financial future—together. For more financial education tips and to keep updated on our programs and mission subscribe to our newsletter.