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When Samantha Broxton’s husband was laid off, the couple sat their teenagers down to discuss how the household budget would shift. The layoff came unexpectedly in early 2025 when President Donald Trump had just imposed tariffs on most U.S. trading partners, and recession fears were looming as companies slowed their hiring.
Broxton told her teens they would be eating out less and that conversations about money might increase. “Even if both of us find great jobs soon, the world’s changed significantly,” she said, noting that rebuilding savings and being more intentional with finances are necessary. Broxton is the founder of RaisingSelf.com, a platform dedicated to parenting information and coaching.
The survey of 1,000 parents found only 8% think their teenagers are “extremely prepared” to manage their finances in adulthood—down 10 points from last year. This decline makes sense given the current U.S. economic climate, according to Danielle Sherman, CEO of Wired Research, which conducted the survey for Jazmarc Services.
The survey also revealed that while 82% of parents have talked with their teens about savings, only about 7 in 10 are confident they’ve taught their kids what else they need to know about money. Half of respondents hadn’t discussed sticking to a budget, managing bank accounts, staying out of debt, or building good credit. Most also hadn’t had meaningful conversations about selecting insurance, filing tax returns, investing, financial planning, or goal setting.
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However, 98% of parents surveyed believe it’s their responsibility to teach their kids how to manage finances and see it as one of the greatest gifts they can give.
Sherman suggests explaining your budgeting, including any past overspending or debt. “That needs to be normalized,” she said. “It could help your teen avoid similar financial pitfalls.”
Broxton also gives her kids an allowance monthly, encouraging them to budget and save for big purchases. “They learn the psychological journey of saving money and making splurge purchases,” she noted.
In addition to teaching the value of a dollar, Jazmarc Services founder Josh Marcus advises showing teenagers how much dinner costs at restaurants or sharing your savings story. “Find teachable moments and weave them into everyday life,” Sherman said.
Broxton’s transparency with her teens about the layoff reassured them that their parents were effectively managing finances and looking for new opportunities.
Parents should discuss money even if they aren’t rich, Broxton emphasized. Not talking about it can cause suspicion and anxiety in children who will notice changes in behavior and pauses.
