Life Skills Exercises

• Teach your child how to manage his life when he's on his own. Bruce Laurance/Lifesize/Getty Images

  Teaching life skills prepares young people to live on their own, find a job they love and maintain a lifestyle. Parents and educators can help young people learn the skills needed to find a career and pursue their dreams. Teaching children how to live on their own is one of the most important lessons you can teach.

Career

• A search through classified listings and online services can help children learn the requirements for the jobs they desire. Your child can learn the annual salary and the responsibilities expected of him in his dream job. You can also teach your children how to look for alternative employment with the skills developed in a college program. This helps children see the opportunities that are available to them should they pursue a degree in a specific field. It also teaches the valuable lesson of searching for a job suited to the skills acquired in school. You should point out or illustrate the entry-level status your child will have in the job market to prepare him for a real-life employment scenario. The exercise can include creating a resume for the job and discussing interviewing skills for your older children.

Personal Budgeting

• Help children understand the real-life necessity of budgeting finances by asking them to create personal budgets of their own. Your child may select a job from the classifieds or job listings and use that as a base salary for the personal budget. With an annual salary, your child can determine the monthly income to use for the budget. Search the classified listings for an apartment within the budget limits. You can work with your child to help him determine an average amount of money for utilities, food, entertainment, transportation and basic living expenses. This exercise can help your child see the value of money and sticking within a budget. You should make sure to include a savings plan and an emergency fund in your child's budget.

Credit

• After your child learns to budget, you can teach him how to use credit properly. Teach your child about interest rates and the value of paying off credit cards at the end of each month instead of carrying a balance. Work the credit information into the personal budget to show how minimum payments can add up and use a significant portion of the monthly budget.

Managing a Household

• Budgeting and employment are only part of the story of managing a household. Teach your children about cooking and preparing their own food by allowing them to prepare the family meal once or twice a week. You can also take the children along for shopping trips to help them learn how to shop within a budget while feeding a family. Help your child learn how to keep his home neat and sanitary. Learning the importance of household chores will help him when living on his own.