Of the 3. Not being educated about financial matters early on can put young people at a disadvantage later in life. From accumulating debt and not saving, to holding onto cash when investing may help grow money over the long term. Avoid this by making sure your teen is responsible for at least some of their living costs. For example, costs that will transfer into adulthood such as covering their portion of the family cell phone plan, paying for gas when they starting driving, or paying for auto registration or insurance if they have their own car. You could also make a house rule that requires they save a fixed percentage of every paycheck.
They are four years old one day and 34 the next. We mean teenagers are all over the map in terms of their maturity. Once they get past age 12, they are adults in training. You are the parent, so act like it.
All of the Best Ways for Teens to Make Money (38 Ideas)
I was not good with money when I was a teenager. I spent it on stuff like clothes and eating at the mall. So let us help you avoid the mistakes we made with our money by giving you 8 money tips. What matters is time. And your money has a lot of it.
Parents with teenagers know nothing comes easy, including teen money management. See how kids tend to spend and save, and consider teaching them some good money habits that could last a lifetime. Most teens ages 12—17 get money from their parents either in the form of an allowance or via parents paying for things directly.