Comments on: Kids and Money: The Teenage Years http://www.moneycrashers.com/kids-and-money-the-teenage-years/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 19:29:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Machttp://www.moneycrashers.com/kids-and-money-the-teenage-years/#comment-10553 Mac Sat, 27 Mar 2010 04:43:10 +0000 http://www.moneycrashers.com/?p=632#comment-10553 Well spoken. Thankfully I have a few more years (maybe a decade) before I have a money hungry teenager. Wonder if people will still accept cash in 2020? Or will plastic be the only way to pay? Not sure, but I hope not. I very much agree that they need to learn the value of money, and credit card won't do it. Glad my parents taught me well and forced to me to work if I was going to get all the stuff I wanted. I did work and earned a computer & a car by the time I was 17. Worth the effort, though next time I'd pass on the car! Well spoken. Thankfully I have a few more years (maybe a decade) before I have a money hungry teenager. Wonder if people will still accept cash in 2020? Or will plastic be the only way to pay? Not sure, but I hope not. I very much agree that they need to learn the value of money, and credit card won’t do it. Glad my parents taught me well and forced to me to work if I was going to get all the stuff I wanted. I did work and earned a computer & a car by the time I was 17. Worth the effort, though next time I’d pass on the car!

]]> By: CreditMomhttp://www.moneycrashers.com/kids-and-money-the-teenage-years/#comment-6130 CreditMom Sat, 23 Aug 2008 02:33:04 +0000 http://www.moneycrashers.com/?p=632#comment-6130 I appreciate your post. i have one 14 y/o and 10 y/o twins. I just put the 14 y/o on a budget. I decided to pay him weekly on Sunday's so he would learn how to stretch the money for weekend activities. His allowance is tied into chores. If he doesn't do a chore he loses $5 off the next week. So this is week 2. He missed 2 chores on week 1. He therefore lost $10 off of week 2. Then he wanted to go out Friday night and only had $8 left....here was my response, "Oh well, next time budget your money...and there are no advances". Oh and he also has to put $10 a week into savings! Kids need to learn. I'm actually glad this happened. He will be more cautious in the future because I can assure you he is not happy about staying home! I appreciate your post. i have one 14 y/o and 10 y/o twins. I just put the 14 y/o on a budget. I decided to pay him weekly on Sunday’s so he would learn how to stretch the money for weekend activities. His allowance is tied into chores. If he doesn’t do a chore he loses $5 off the next week. So this is week 2. He missed 2 chores on week 1. He therefore lost $10 off of week 2. Then he wanted to go out Friday night and only had $8 left….here was my response, “Oh well, next time budget your money…and there are no advances”. Oh and he also has to put $10 a week into savings!

Kids need to learn. I’m actually glad this happened. He will be more cautious in the future because I can assure you he is not happy about staying home!

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