Allowance or Obligation?
Most parents give their teens an allowance for spending money. However, it is important to think through how much, when and for what. Dr. Hyken addresses these issues on KTVI-TV Fox 2 in St. Louis MO.
Tag Archives: Teen Finances
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Teen Finances
My teenager constantly asks us to buy expensive things for him and says he will pay us back. The problem is he rarely does. How should we react to his requests?
Does your son understand interest rates, know that ATMs charge fees, or have the skill to balance a check book? Did you know that almost 1/3 of all teens have some form of debt (Schwab, 2007 Survey)? Teens are intelligent, but they still need mom and dad to help guide them toward fiscal responsibility.
