Send in Your Posts NOW for April:
Next month’s topic is: “How I deal with my teen being rude to me.” Please participate and send in some words of wisdom you’ve given to your teens and tweens!
This month’s Parent-Speak is, “How I talk to my teen about money.”
Abby M., Montclair, NJ
“My children have led a charmed life, because we’ve been fortunate enough to be able to give them what they wanted… until now. We sat down for a family talk and decided that they are going to have to be patient and wait for some of the things they want. We happen to eat out a lot and we also get Netflix, but the kids decided if they had to get rid of something, it would be the Netflix. They like having a clothing allowance, so we are letting them keep that, but they can’t go over the amount we’ve allotted each month. I also think it is good to show them what you are doing to adjust too....information is good, the more they know the more responsible they can be.”
Joanne P., Austin, TX
“We gave our kids their own "home income” and let them try to manage a certain amount for school supplies, entertainment, and meals they eat out of the house. It’s taught them just how quickly the money goes and that taking advantage of sales and dollar stores really helps. Additionally, two of our kids are old enough to work now, so they know if they want the extras, they will have to earn it themselves.
“I let my teens do the grocery shopping once in a while. I give them cash, and they have to “guesstimate” whether they have enough to pay for everything on the list. If it doesn’t work out, they have to have the cashier take back some things. When they make a good, money-saving decision, my husband and I are very careful to notice and applaud them.”
Alma Alvarado 03/19/08
When my husband and I decided to be diligent about paying off our debt, we enrolled in a program to help us do that. We learned that our children will mimic our spending habits, including using credit cards, buying things on impulse, etc. As we created a budget, our 14 year old has begun to help budget for things that the family needs and has also begun to work "on commission" for the chores she does. She know the more she works, the more she makes. She is EXTREMELY cautious about what she spends because she worked for every dollar and wants it to last.
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