Reply to I suspect my kid stole money form my purse

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[quote=Anonymous][quote=Anonymous]

OP if your son is old enough to work, then he is old enough to learn some money management strategies and a parent (or parents) are the one to teach a teen.  He needs to open a savings account with a parent co-signer and to discuss with you an agreed percentage of each paycheck whether in cash or check that will be deposited in savings.  If he is used to expensive things already, it is going to take some retraining that "wants" are not always "needs" and there needs to be priorities set.  You may have the money now for expensive things, but he most likely will not always have the money and you do not want to lead him down the path where if easy cash is not at hand, there is always the easy plastic.

I do hope he has responsibilities at home for which he is not paid but expected to just do weekly.  If he does not have a regular part-time job, then it would also be good to sit him down and come make a up a list of what you do cover as a family for him, what weekly amount (best to start there instead of monthly) amount you will provide and what it is to cover.  It does not need to be down to the dollar, but not so extravagant that it can be blown.  The idea is to start giving him a weekly sum that he has to learn to budget.  For a special "want, " you might come up with some tasks in the home or yard which he could do for a certain amount to put in savings to apply towards it.  Also, saving should never be directed at just one big purchase.

There are two issues which you have to think about long term to deal with - lying is one, but sneakiness is the other .........[/quote]\

Thanks PP, we do all these things.  It was unusual for him to have several outside jobs in a row so he had a lot of cash, though.  He gets a regular allowance through which he pays for certain things, and then he pays for his cell phone through an extra chore.  I am thinking of opening him one of USAA's teen accounts, though, so he can stash his money there and we can all see how much he has.[/quote]

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