Do You Need to Teach Teenagers About Money?
Family money management has to do with how the family makes, saves and spends money. The family is the smallest unit of every society so whatever happens in the family has a way of affecting the larger society.
Parents were once children, kids or teenagers in different families and I think they stand at a better position to tell if they would have been better money managers had it been their own parents taught them the principles of making and managing money when they were teens, living with their parents.
Research has shown that skills learn at childhood never leaves a person. For example, most of the best athletes in the world are teenagers. I will not call names but I remember that a certain swimmer that won several gold medals during the Beijing Olympics in 2008 was not more than 18 years old. I gathered from reliable source that the world class Olympic champion started swimming since the age of about 5.
Teenagers should be taught how to make money, how to save money and how to spend it right from their early age. They have to learn the value of money and how to spend it wisely because so early in life teens are often tempted to waste money – they want to buy everything they feel they desire because they don’t know the value of money or they don’t know the difference between what they need and what they desire. You have to teach them how to make a budget and write down expenditures.
If you as a parent don’t teach them, who will?
If you really want to know about teenagers and money management, go to Raymond’s blog now: [http://teenagersmoneymanagement.blogspot.com]Teenagers Money Management. It is a top resource on teens and money management skills from a leading money management guru.
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