Teach Them to Fish
In keeping with what I talked about last week, teach your teenagers about money. If you don't want them always coming back to you for money, teach them how to fish for themselves. This is a very important principle to learn before they leave home. Teach them how to work, earn and manage that money. Build those financial muscles at home!
Homework:
Even if you have young teenagers, they can still work and earn money by babysitting or cutting grass. This isn't to say that you will never give them money. I believe that you should give them the money that you would normally spend on them for clothes, gas and anything else that you feel generous to give. They then have to learn how to budget that money throughout the month. They will learn pretty quickly that money is finite and will have already practiced its management before they enter 'the real world'.
"If you want to recapture your youth, just cut off his allowance."Al Bernstein
"Little children, headache; big children, heartache." Italian Proverb
"When I was a boy of fourteen, my father was so ignorant I could hardly stand to have the old man around. But when I got to be twenty-one, I was astonished at how much he had learned in seven years." Mark Twain
No comments:
Post a Comment