• Connects money and future
• Understands relationship of time to money
• Knows how to earn, save and invest
• Can shop comparatively
• Can read a bank statement and paycheck
• Handles simple tax forms
• Understands philanthropy (aren't you glad you started that church giving when they were young!)
• Understands interest and dividends
• Can manage a credit card (and debt)
• Understands how loans work

 
How To Achieve these Skills:
Parents can help their teenagers learn these skills simply by continuing to expose them to practical, real-world activities.   At home this might mean:

• Showing them how to write a check, balance a checkbook or use online banking.
  
• Encouraging them to hold down a job - as long as it doesn't interfere with school and other extracurricular activities.
  
• Walking them through the processes involved in buying big-ticket items like a car (will you borrow or use your own money?) or budgeting for holiday gifts.
  
• Talk to your children about everything money, from how to save, to TV ad messages, to credit card debt and college loans, to how to be an entrepreneur and use money to change the world through philanthropic giving!
  
• Perhaps, most importantly, allow your kids to make mistakes.  This might mean letting them buy that product they wanted but didn't read the Consumer Report about. Or get that trendy item without comparison-shopping and then discover their friend bought it for less.  If you allow them to use a credit card, let them take responsibility for any debt incurred.  Far better they learn these harsh lessons now, before they leave home, than having to face them unprepared out in the big world, where there's little or no safety net.