Money for teenagers

Kinderab 5 J.

What teenagers (13–17) should know about money: their own account, keeping a budget, starting a savings plan, spotting advertising tricks, understanding contracts. The money crash course for young people.

10 money skills every teenager should have:

Basics (13–14 years):

• Manage your own current account (online banking, app, checking your balance)
• Make a budget: what comes in (pocket money), what goes out?
• Savings rate: save at least 20% of your pocket money
• Compare prices: check online before buying
• Recognise advertising: why does Instagram want to sell me this?

Advanced (15–17 years):

• Understand compound interest: why saving early is so powerful
• Taxes: what's gross/net? What happens to my holiday job money?
• Understand contracts: mobile phone contract, streaming subscription, gym
• Avoid debt: why Klarna/BNPL is dangerous
• First ETF savings plan: with a junior account (parents help) or on your own from 18

The most important lesson: "It's not about earning a lot. It's about spending less than you earn – and investing the rest wisely."

Did you know? According to the 2024 German Banking Association youth study, 75% of 14–24-year-olds find financial knowledge important – but only 12% feel prepared for it by school.

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