Parenting: The Challenge

There isn’t much instruction in schools for how to manage money. This is an important skill for teens to have to prepare them for the real world. Many just get credit cards and many haven’t learned about personal finance management and can end up with a credit score that could hurt them for many years. Here are a few tips about money to keep in mind when talking with your teen; let them know that they should really think before buying, not buying on impulse. Be a good role model by having them see you save. If your teen gets an allowance, talk to them about saving, spending and donating it. Another way to teach them about money is for them to be responsible for their own cell phone bill they will really get a taste of what it’s like to pay their own way. These are critical tools to have before they go out on their own in the world.