Parenting: The Challenge

Once your child reaches the teen years, they will start to ask for money for activities and to purchase clothes, music and other things. It may be time to start teaching them some money management. Set up a budget for all the things your teen uses or needs that you may find is outside of what you feel they are entitled to. A weekly allowance is a good place to start giving them a set amount for chores done. If you feel that your teen is old enough and can handle a part time job while in school or just for the summer, encourage them to apply. This is a great way for them to learn how to make and manage their own money. These things will help greatly in educating your teen about money and that it doesn’t just grow on trees.