Why is my teen better at money than me?

Hi Scott,

I raised my daughter as a solo parent. She's turning 18 and heading to university - a great kid who's saved $8,000 from part-time work using Barefoot principles. She even donates to charity.

Meanwhile, I'm a financial disaster. I work full-time but spend every cent. No debt, but I can't build a Mojo. Something ALWAYS happens to derail it after four years of trying.

How did I successfully teach my daughter what I can't do myself? She's financially responsible at 18 while I'm still failing at the basics. The irony is killing me.

I feel ashamed that my teenage daughter has better money habits than I do. How do I change my mindset and behavior when I clearly know what to do but can't make myself do it?

Wendy

Hey Wendy,

Jackie Kennedy once said something wise:

“If you bungle raising your children, I don't think whatever else you do well matters very much.”

Well, you nailed it. Your daughter’s a hard worker, a good saver, and a giver. Those aren’t just skills – they’re the character traits of a fine human being.

So here’s the question: if you’re such a financial mess, how did your daughter turn out so well? It’s because you modelled vulnerability and persistence. She saw you keep going, even when it was hard. That’s what stuck.

So after years of providing for your daughter, it’s your turn now. Here's the first thing I want you to do. Set up your Mojo account and fund it with $2,000. I don’t care how you get the money – sell stuff on Marketplace, cut every expense, work a weekend shift – just get that buffer in place so life stops derailing your plans.

Once you've got that sorted I want you to set up your buckets, and make sure your transfers happen the day you get paid. Make it automatic. We're not aiming for perfect here. Just get it done. Every little step is proof that you’re not a financial failure – in fact, you’re a damn good teacher.

Go Mumma go!

Scott