Your 11- to 14-year-old children lead busy lives — balancing school, sports, hobbies and their social life isn’t easy. More and more, your kids want to figure things out on their own. According to a CIBC surveyabout the age when kids begin to manage their money independently. Opens a new window, 14 is the average age when kids begin to manage their money independently. With so much going on, your support is important to help your kids establish and maintain financial goals, and to help lead them to long-term financial success.
Delaying a short-term want for something more meaningful later helps children understand the value of money. At this stage, it’s natural that their interests are more expensive. They’re into electronics, musical instruments, going to movies or concerts and other activities. Share the goal planner tool with your pre-teens to help them set goals and plan for the future.