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Just Doing My Best: Money Management for Teens

Sunday, March 8, 2009

 

Money Management for Teens

The current economy has forced millions of families to reevaluate their spending and financial futures. Now, more than ever our next generation of leaders need a strong financial start. Regardless of how the economy looks when it is time for these teens to finally step out on their own, they will need as many tools for success as possible.

Our family is right at the preteen/teen cusp and we are still learning how to wade through these new waters. If you have found some great ways to teach money management or the economy to your older children or teens, please consider sharing your idea by leaving a comment so that we can learn from each other.

In the meantime, I can direct you to two websites that are geared toward helping teens and their finances.

For teen job ideas, visit CVTips.com.
For teen finance lessons, visit GiveMe20.com.

What are your favorite tips when it comes to teaching your children or teens about money or the economy?

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Comments:
Thanks for your post. I'll have to check out those sites. It's so important to help kids understand money while they are young. I need more ideas on jobs for our young teen. Our younger son has been collecting and crushing aluminum cans to recycle for money. I did a post on one thing we did with our kids, and I have been thinking about doing other posts on financial lessons for kids and teens. If you'd like to check out the post I did, you'll find it here:
Adventures in Frugal Homemaking
 
Thanks for these sites, at what age is it appropriate to start things like allowance and understanding money? I know my 18 mo old daughter is still too young but when do most kids seem ready?
 
Frugal Homemaker,
Way to go...son already earning money! Thanks for the info and thanks for reading!
Heather


Shannon,
Our family started introducing the idea of earning money when they were old enough to "get" the idea that money was something special.

Though at first, I remember they were more interested in the idea of having a shiny coin as opposed to the idea that they could spend it. We started cheap, shiny coins, while we could! :)

Thanks for reading!
Heather
 

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