How to help a young person learn financial life skills

Hi,

I am new to this community, so I'm not quite sure how this all works!

My soon to be 16 year old daughter has ASD, and her DLA will soon be paid to her directly.

I was wondering how other parents support their child?  Do you actively look at their accounts, or manage on their behalf, or leave them to it?  I have had conversations with her around online scams where a "friend" may ask for money, but I still worry she will be taken advantage of.  I would like her to learn financial life skills, so I am looking for advice on the best way to help her with that.

Can I have your thoughts/experiences please?

Thank you in advance Slight smile

Parents
  • Hello NAS84823, I'm Number (Ironically enough, given what I am about to say)

    I am not the type of chap (for starters, I'm oldish - in my 50's) whom you might expect to say this, but it is so true.

    PLEASE don't foist "financial life skills" on your 16 year old simply because you would like her to learn them.

    I mean this with no accusatory tone, nor implied criticism of you and what you have asked above - I am just giving you my perspective based on my own life experience.

    I'm flipping hopeless (and yet amazing) with financial life skills.  I sincerely wish people (ie parents, friends, employers etc) had allowed me to say "look, this just isn't what I should be allowed to manage for myself, please take care of it for me."

    So.......my thoughts/experiences on this are as follows.........keep managing it yourself but bring her in to look at what you are doing and how you are doing it and explain why you are doing it that way.  If she shows interest and aptitude, let he start taking over a bit and see how it goes.  HOWEVER, please also do not assume that, just because she is capable and bright that she necessarily wants to, or is safely capable of, managing the pure nonsensical topic of "financial life skills."  Some of us auti's are simply not cut out for it and nor do we want it, but "normies" seem to consider it as a skill or right-of-passage akin to breathing !

    Just my opinion, proffered to broaden your resource of opinions.

    I wish you both well.

    Kind regards.

Reply
  • Hello NAS84823, I'm Number (Ironically enough, given what I am about to say)

    I am not the type of chap (for starters, I'm oldish - in my 50's) whom you might expect to say this, but it is so true.

    PLEASE don't foist "financial life skills" on your 16 year old simply because you would like her to learn them.

    I mean this with no accusatory tone, nor implied criticism of you and what you have asked above - I am just giving you my perspective based on my own life experience.

    I'm flipping hopeless (and yet amazing) with financial life skills.  I sincerely wish people (ie parents, friends, employers etc) had allowed me to say "look, this just isn't what I should be allowed to manage for myself, please take care of it for me."

    So.......my thoughts/experiences on this are as follows.........keep managing it yourself but bring her in to look at what you are doing and how you are doing it and explain why you are doing it that way.  If she shows interest and aptitude, let he start taking over a bit and see how it goes.  HOWEVER, please also do not assume that, just because she is capable and bright that she necessarily wants to, or is safely capable of, managing the pure nonsensical topic of "financial life skills."  Some of us auti's are simply not cut out for it and nor do we want it, but "normies" seem to consider it as a skill or right-of-passage akin to breathing !

    Just my opinion, proffered to broaden your resource of opinions.

    I wish you both well.

    Kind regards.

Children