Kids and Money: How to Make Sure They Get the Message

I text one or more of my kids just about everyday.

"Where r u?"

"Need a ride?"

"Left u $ for pizza."

"Gr8 job on ur test."

It's all short and to the point, and mostly intended to give or get logistical information quickly and with minimal interference. But it never occurred to me that I could also text to help my kids become smarter about money.

The average teen sends 3,339 texts a month, reports the Nielsen Company. Why not exploit this obsession to get your teens to hear more of what you have to say about money? In her blog on financial literacy, Susan Beacham offers 10 text suggestions designed to cajole her kids into thinking more about their finances. Two examples:

• "TTYL about wat ur going to do with ur bday money from gma and gpa. LTS. 2nite at dinner?"
• "Let's have a FTF to talk about college expenses. Lunch this weekend?"

What I really like about this approach is that you can count on your kids to read every text message, and if you're not too bossy and you make your point through a question they'll actually think about what you said and maybe even give you an answer. I can't wait to give it a try, even if it means first researching some text shorthand so I don't look like a NWAL (nerd without a life).

So, my 21-year-old daughter studying in Chile this semester can look forward to this:

• "DYK you've been gone 1 month? Check $ spent. Multiply by 4. Have enough left? Or need to spend less? "
• "How's ur cell bill? Local plan cheaper?"

My 19-year-old son in college in Boston can look for this:

• "Summer almost here, OMG. Have u thought about a job? LTS. I may have some leads."
• "r u using ur meal plan? Eating out is a waste of $."

And for my 16-year-old daughter in high school:

• "DYK ur account is below $50? NOM but not sure u need to go to the mall this weekend."
• "Spring cleaning soon. WDYT. Should you sell the old guitar?"

Technology has changed so much about our kids' life that it's hard to keep up. Did you see this video of a 2-year-old playing with an iPad?

Amazing. Our kids are learning in ways we can't imagine. We have to reach them in ways they understand -- and texting money reminders is a good strategy.

Photo courtesy Flickr user danzen
More on MoneyWatch:

• How to Talk Money with Kids: The Three Best Times
• How Not to Raise a Spoiled Brat
• Talking to Your Kids About Money

Dan Kadlec

Daniel J. Kadlec is an author and journalist whose work appears regularly in Time and Money magazines. He is the former editor of Time’s Generations section, which was written and edited for boomers. Kadlec came to Time from USA Today, where he was the creator and author of the daily column Street Talk, which anchored the newspaper's business coverage. He has co-written three books, including, most recently, With Purpose: Going from Success to Significance in Work and Life. He has won a New York Press Club award and a National Headliner Award for columns on the economy and investing.

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