Exam results are out. How to talk to teenagers about money.

August and September are highly emotional months. A-Level and GCSE results dictate the next stage of your child's life. But as they prepare to leave home for university or work, the financial reality hits hard.

The 'Bank of Mum and Dad' is under more pressure than ever, propping up maintenance loans that barely cover rent, let alone food.

Setting Clear Boundaries

You need to sit down with your young adults and show them the math. This is not the time to be vague. If you are subsidising their rent, be clear about the exact amount and the duration.

More importantly, teach them the concept of a Spending Plan before they leave. Show them how to separate their non-negotiable bills from their social money. If you send them out into the world without these behavioural skills, you aren't protecting them; you are setting them up for a harsh wake-up call when the overdraft runs dry.