Record debt, skyrocketing foreclosures and a large number of people suffering from financial stress - is this your teenagers' future? It does not have to be. Raising a financially responsible teenager will help them avoid the problems that so many of their peers face today.

Most parents are already aware that most public high schools do not provide young adults with a practical financial education. Yet these same parents understand how important financial education is for their children's future. So parents it's up to you to provide your children with the financial skills they need to make it in today's society.

Helping your high school or college age child to achieve financial independence will give them an advantage that they will use every day of their life. Below is a list of the top lessons you can teach that will establish a solid foundation to raising a financially responsible teen.

1. High Ethical Standards - Developing a high moral character will help your teenager earn more money, be a better job candidate and be an overall good person that people respect. In today's society being a well respected member of the community will help them gain financial independence.

2. Proper mindset—Negative thinking causes problems and can hurt teenager's chances of achieving financial independence. A positive outlook attracts positive events so encourage them to develop a mindset that will help them develop into a happy, well-rounded, financially responsible adult.

3. Ability to Communicate -Raising a financially independent teen depends on the ability their ability to communicate effectively. The ability to communicate will help them to stand out and increase their chances of promotion. What's more great communicators are more likely to be leaders within a company or become successful entrepreneurs.

4. Organization skills— Achieving financial independence at a young age will be aided by having good organizational habits. Lead by example; show your teenage child how having an organized schedule, space, and life will benefit them. Doing so will allow them to reach their fullest earning potential

5. Passion —Encourage your teenager to find and follow their passions. Sit down with them and help them to think about ways they can turn what they love to do into a career. When your child loves what they do it doesn't feel like work and they excel at what they do. By understanding your teens dreams you will get to know them on a deeper level plus you'll be helping them develop a skill that will last a lifetime.

The simple tips discussed lay the foundation of financial independence. Of course additional financial lessons need to be taught to help them handle their money; however helping your teen to have a good head on their shoulders is the critical first step.

The next step is to build their financial education base so they are able to avoid the financial pitfalls that plaque so many people. Here are three tips that will help you prepare your child for a structured financial education course.

1. Lifestyle. Children, teenagers and young adults aren't concerned with just 'money'. It is the things that money brings them that is the main motivator. Relating money to time, freedom and lifestyle will inspire them to learn about money. Once they understand the personal freedom having money will afford them, you'll find your children excited and wanting to receive a practical financial education.

2. Accounts Open their checking, savings, and investment accounts early. It doesn't matter if they are in kindergarten or colleges by getting these account set up early they will have an advantage that will last a lifetime. The longer relationship you have established with a bank or financial institution the more benefits your child may receive. What's more, young adults also feel an added sense of responsibility for their financial future when they have the proper accounts open.

3. Invest early. Encourage your young adult to begin investing as soon as they have money saved up. The stock market is a great place for them to start; however do not go out and buy individual stocks or mutual funds. Both are too risky unless you have specialized investment training. There are other options; you may decide to invest in the overall market.

There are several investment vehicles available that allow you to invest in the overall market that are just as easy as buying a stock or mutual fund. Making a simple investment in the overall market may give your child lower risk, more consistent returns and greater diversification. The best part is this strategy is dead simple to do. Once they set up their investment account they can automate it so each and every month the investment is made for them automatically.

Getting your young adult prepared for the realities of the 21st century is an important part of responsible parenting. Giving them practical financial education before they move out on their own will continue to benefit them throughout their entire life. You would never give your child a car without drivers training; so make sure you give them a practical financial education before they move out.