A first paycheck goes beyond money—it’s independence, responsibility, and the beginning of adult life. For teens, it’s exciting and often confusing. Suddenly they’re dealing with taxes, deductions, and decisions about how to spend or save.

As a parent, you can help them make sense of it all. By teaching a few simple habits early on, you’ll give them the confidence to manage their finances wisely—now and in the future.

Talking to teens about the value of money and work

Before they even receive their first paycheck, it’s helpful to talk about what earning money really means. Teens often focus on the final number they see in their account, without fully realizing the time and effort behind it. By explaining the connection between work and income, the idea of opportunity cost—that spending money on one thing means not spending it on another—and that financial independence develops gradually over time, you help them build realistic expectations. These early conversations lay the foundation for a healthy, confident relationship with money from the very beginning.

Explaining taxes, deductions, and net pay

Teens are often surprised when their first paycheck is smaller than expected. This is a great moment to explain:

• Gross vs. net pay: The difference between what they earn and what they take home

• Taxes and social contributions: Why certain amounts are deducted

• Payslips: What they mean and how to read them

Understanding these basics early prevents future confusion and helps teens feel more in control.

Setting up their first savings plan

A first job is the perfect moment to start building a lifelong saving habit. It doesn’t have to be a large amount—what matters most is getting into the rhythm of saving regularly. You can support your teen by helping them choose a realistic amount or percentage to set aside from every paycheck, setting up a dedicated savings account, and talking through why they’re saving in the first place, whether that’s for emergencies, personal goals, or future opportunities. With bunq, you can even create separate savings accounts with clear goals, making it easy for teens to track their progress and stay motivated as their savings grow.

How to budget and manage spending wisely

Budgeting isn’t about restrictions—it’s about choices. Teaching your child a simple budgeting method can give them confidence and prevent overspending.

A few beginner-friendly steps:

• List their expected income and recurring costs (like transport or phone bills)

• Decide how much goes to savings before spending starts

• Track weekly spending to stay on budget

• Leave room for fun—they should enjoy the reward of earning their own money

Introducing them to digital tools can make this easier and more engaging.

Encouraging long-term goals like saving for studies or travel

Teens are naturally motivated by goals they can picture and get excited about. You can support them by helping plan for meaningful milestones, such as future education costs, a trip or study-abroad experience, a new laptop or hobby investment, or even their first car. By breaking these bigger goals into smaller, manageable steps, teens can see that long-term planning is achievable—even with a part-time income—and feel encouraged to stick with their savings habits.

Help your teen build good money habits with bunq

bunq makes managing teen finances simple, transparent, and fun:

• Joint Accounts for allowances—stay involved while giving teens independence

• Separate Savings Accounts with automatic transfers

• Instant Notifications so they always stay aware of spending

• Easy Budgeting tools that teach responsibility without stress

Give your teen the tools to start strong—discover how bunq supports smart money habits for young people and families.