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Tweens and Teens
Reply to "how do you teach your teens about financial responsibility?"
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[quote=Anonymous][quote=Anonymous]You start when they're learning math at about 4 yo. I gave mine $1/wk and grow from there. Now my 13 yo is responsible for everything (clothes, entertainment, gifts, etc). I still buy uniforms and technical clothes (eg ski gear). She's extremely resourceful and gradually learned about quality over quantity; good fitting clothes; sales, etc. Lots of tricks and tips I gave her along the way (some of them took a whole to sink in though). Give them enough to make a mistake and don't bail them out. Let life teach them young - lessons sink in better that way. We are still working with her on investments. I don't expect her to really get this for a few years, so she has some role but limited, in her investments.[/quote] Shopping tricks are fine and all, but knowing how to manage savings, investments, appropriate insurance, when debt is worthwhile, how to make sure your checking accounts are secure etc are more useful. [/quote]
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