TEENS AND MONEY

Teenagers love to feel independent and all grown up. You as a parent should learn to encourage them than to force them to budget their own pocket money. At the ages of 14 and 16, you should give them a monthly allowance rather than weekly. You know their needs so you have an idea of the amount they should be given. Help them save a percentage of every amount they get. They should learn the different types of saving e.g. for short, medium or long term items which are very expensive like a car. Teach them that giving to charity is also important as saving or spending on other things. Let them choose a charity and percentage that they want to give. Help them find a holiday or weekend job so that they can get to learn how it feels to work for money and value it. They should also be taught how to use a cheque book and credit card. http://writingcampus.com/blog/1394

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