How to teach the management of money adolescents in a way that actually works!

Your teen needs you to be a Mentor: Soon the parents of teens learn that conferences or "a stern talking to" little significant effect. The restrictive application can also lead to the distance between the parents and adolescents. Is life experience (guided by you, his mentor) which can have a profound effect on his maturity, and your relationship! You can allow to make mistakes and suffer the consequences, but to set limits on the level of risk to ensure nothing serious or long term.  We know that the classic struggle between a parent who cannot stand by while their child suffers at all and the other parent who wants to see their children to live the consequences of their actions. The "unconditional love" vs "tough love" is another way to say. Pull far as tug-a-war and see yourself as a mentor who gives your child enough freedom to learn by experience, even if it hurts, but never as much to enter into a murky period. A mentor trusts that its students will learn what is taught later. It may take several failures before the student is ready, but the mentor never loses faith in latent potential student. This reflection will be added to your patience, because you have just drudgery as a supplier, but a mentorship with more noble goal.

"Money is like manure; It is not worth a thing unless it is spread around encouraging to grow young things. "Thornton Wilder

The practice.

Want it? Can he win: beyond the special occasions such as birthdays, awarded degrees etc., if your teenager wants an item, such as a cell phone or a video game, it must be earned, either working for compensation or a part-time job. For larger purchases such as a vehicle or a computer, the parents can show encouragement by paying half after their adolescent demonstrates the responsibility of raising the first half.  If your son or daughter is unable to collect enough money for their own articles that they would simply get it. If your teen is wasting their money, you must resist the urge to bail out them. Instead of debating or arguing about it, talk to a few comforting, your fact. The only thing that you need for your child in this instance is the good guidance and compassion. To save would do them them a disservice. This is how the world works and you are responsible for ensuring that they learn this hard lesson now, and not when they are 30 years and challenging pay-off a mortgage.

The 10% rule: Many adolescents will not be able to save 10% of their earnings on their own, but with the help of your share, they will come to really appreciate the power of sacrifice for something greater. If possible, retain 10% of the earnings of your teen for her. To do so for a period of time until she is able to buy something of significant value. The purpose here is not necessarily teach investing, but the power of moderation!  This delayed gratification will print memorable and him well in the future.

Let go of expectations: How long did take learn you some lessons than your own parents strives to teach you? In my case, it took years!  When I was ready, I used what my mother taught me and still do today. Some children feel like they will be only be valued by their parents, when they do what their parents want, rather than having an intrinsic value in and of themselves. Young of this age will probably not share their feelings about it, so do what you can be aware of your own expectations. It can take years for your son/daughter to learn good money management.  Let go of any time-table pré-conçue.

The Tao of Papa


The top 3 ways to be a Mentor for your adolescent


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