5 Things Teens Should Be Taught About Money
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Sorry, but I think you will have to let her learn the hard way! You can show her what you like, but some teenagers don't want to know, especially from their parents! Maybe her sister or a friend can get through to her where you can't?My daughter will be 18 next year. A few years ago she inherited some money which I have been holding in trust for her. Once she is 18, she is entitled to have the money and I am worried that she will just fritter it away. I have tried to teach her to be sensible with money but whatever she has ever had, she spends. I've shown her how to reconcile her bank account, said about budgeting etc but she doesn't seem interested. She opened a monthly savings account as she said she wanted to try and save regularly but she just withdraws it all the time.
I suggested she had the accumulated interest to spend and put the rest away. Any advice I can show her would be helpful
Her older sister had the same amount which she has paid into an ING account (sorry Martin - not an ISA) and is a lot more cautious.Signature removed for peace of mind0 -
Jobs for teenagers: my son works at our local cinema. It's not one of the huge chains, and he was 16 when he started so I had to sign to say it was OK for him to be there. They are very careful about not letting him into 18 screens! I don't know if they would have taken him on any younger - we'll probably ask if they'd like to take his brother on when he goes off to Uni! - but I'd endorse the advice about going to smaller, local outlets rather than the larger stores.
But it's a smashing job, IMO: far better than the checkout at the Coop which is what I did for a few weeks at his age, and definitely less like hard work than his previous paper round!Signature removed for peace of mind0 -
I found impossible to get a decent Saturday job before I was 16 but once you are 16 there's loads of places will take you on (there are legal implications if you employ an under-16 year old).
I got a Saturday job in Argos when I was 16 and have returned for christmas holidays etc. now that I am at uni. I really enjoyed working there (compared with things I've heard from other people about their jobs) but I think it depends as much on the staff and management in a particular store as it does on the company.
If you are 16 or over and want a part time/weekend job in a shop then look NOW, lots of places are taking on christmas temps and if you are any good they might keep you on after christmas.student100 hasn't been a student since 2007...0 -
OK here's some...
*Don't spend what you ain't got. It's so simple! Giving you credit, be it cards or loans, is not the banks being nice and helping you out of a tight spot, it's the banks giving you DEBT, and taking your money. Get a DEBIT card - if you don't have the money now, what makes you think you'll have it later?
Or to put it another way, if you can't afford it, you can't afford it. Deal with it. *Learn to live within your means.
*Look after the pennies - a choccy bar a day is a few pounds a week, and...
*Even a pound a week really adds up. Saving need be no more than a jar for your 50ps. Saving is best when you don't notice you're doing it - get into the habit!
*Teens know everything anyway, they don't need boring people talking about savings and investments. ;D It's so easy to give advice. Remember being flat skint with no decent clothes, no money to go out with your mates, and someone offering you bright advice about how you shouldn't take that student overdraft?! ::)
And as for the teen frittering away her inheritence...er, that was me :-[ Some people just have to learn the hard way! But now I know that money isn't so important anyway :) I have enough, and I don't have constant headaches obsessing about how to get the best returns. What lessons do you want her to learn in life...? Best money advice ever came from my dad: If you have it, spend it. If you don't, don't.:TProud to be dealing with my debts :T0 -
"Stoozing" ???What might your dad have to stay about stoozing.Signature removed for peace of mind0 -
Money can't buy you love.
Teens - and some adults! - need to know that having the coolest trainers, the snazziest jeans, the latest phone, the glitziest hair and the smartest car won't improve your love life. This is not the message which comes across from the adverts on TV!Signature removed for peace of mind0 -
Teenagers are incredibly poorly served by banks.
The only main a/c's available are rubbishy cashcard accounts. The top savigns a/c's usually aren't available till 18-21 yrs.
The only exception is Egg which is 16.
Still where do they go for 3 years except rubbish lowintrest cashcard accounts?Alex Jones0 -
A good question................................I have put my clock back....... Kcolc ym0
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Forget teens, what about husbands?!
When I mentioned to my lovely hubby about saving for a "rainy day" he just said "whats the point? We might as well spend it now!" ::)
So far the only saving he does he doesn't actually know about! Every time I wash his trousers all the loose change in them goes in the piggy bank!
Does anyone know what I can do to encourage him? ???It's not WHAT you know, it's WHO you know0 -
Ah, right. Just not the bits I usually frequent: it was a new one on me!Stoozing is a word much used at this website.Signature removed for peace of mind0
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