Adolescence

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It isn’t easy teaching your teen about the important of finance, especially in this world of getting what you want now and paying for it later. For some teens, if he/she wants something, the belief is, he/she should get it.

Until your teen moves out on their own. Suddenly, he/she is hit smack in the face with the realities of daily living—and it’s not getting the next new iPod.

How can you prepare your teens before he/she steps out the door?

Open a savings account. Teach her how to record and keep track of deposits and expenditures.
Let your teen experience making money. Set aside some of what they make in a savings account. Decide the percentage to be saved together and stick to the plan. If they are old enough for part-time employment, insist that they get a job during the school year and work full-time during the summer.
Don’t give your teen everything she wants. Let her work for some things she wants even if you have the money to buy it for her.
Teach him the importance of planning ahead and saving for a rainy day. Perhaps you and your teen decide to save 10% every time he gets paid. The money is then used for college.
Help her put together a dream board. On the dream board she places pictures and words of those things she’d like to work for. When the dream has been achieved, she can pull off the dream and add another.

Teaching your teen about the realities of money can be a fun, rewarding experience, if you keep your thoughts positive and your future desires for your teen sincere and open.

When your Teen Rebels

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Rebellion. It isn’t something you want to deal with. He doesn’t listen; he does what he wants when he wants to. She is never home and recently you found drugs hidden under her bedroom mattress. What can you do?

Here are some helps:

Your teen’s favorite confidant will probably not be you unless you’ve developed a line of communication. But even if you have, many teens prefer speaking to their peers about their problems. For this reason it is important to be all ears when they want to speak up. The best times for teens are usually in the car or late at night; informal, inconvenient moments when you are doing something else. Be open to these times of sharing.
Privacy is more than likely at the top of your teen’s list. Be careful not to harm the trust you may have developed. Don’t do a search of their room unless you have a very good reason for doing so.
Give them space to live their life but don’t forget a good set of rules. Teens need curfews, rules about school and homework, rules that pertain to their room and other household chores. They need to learn how to work whether in the home or away from it or both.
Let your teen know you love them no matter what. Spend time with them. Keep positive about those things you see in them that are good. Let them know you trust that they will make good decisions. Let them know that you’re there for them if they ever need help.
Do some additional research. Find out the best ways to handle a teen in rebellion.

Teaching Teens the Important of Finance

When your Teen Rebels

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