Comments on: Kids and Money: The Teenage Years http://www.moneycrashers.com/kids-and-money-the-teenage-years/?utm_source=rss&utm_medium=rss&utm_campaign=kids-and-money-the-teenage-years personal finance blog Sat, 21 Nov 2009 04:07:50 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: CreditMom http://www.moneycrashers.com/kids-and-money-the-teenage-years/comment-page-1/#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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