“Can I have twenty dollars?”

How often have you heard this in your house? Teenagers are a bottomless money pit. There is always another need for cash. When these same teenagers go off to college there are vultures on campus handing out credit cards. How do you prepare your teenagers to be responsible with money? There are many different ways but my preference is to give them an amount of money a month and tell them what they need to use the money for. Not to control the money but this is for movies and other things you want to do that cost money. In some families they give them enough money that they are responsible to purchase their own clothes, school expenses etc. This is entirely up to the family and their financial situation. However this is structured if they run out of money before the end of the month you cannot float them a loan. You simply say, "I hate that you already spent all your money." In the end you will be glad you help them in this endeavor. Sherri

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