Parent Resources

Teens & Money

Marshall Loeb encourages parents to take another look at offering allowance as a payment to your child for household chores. His opinion is that children need to do household chores in order to contribute to the family and that allowance should be tied to some other action. He encourages creative thinking when it comes to ways to promote fiscal responsibility in your teen.

A detailed report on how a parent's wealth and how they handle it can have a major effect on their offspring. Middle class or high class, this article stresses the importance of teaching your children the responsibilities associated with money. Rich kids may be given a lump sum or a prepaid card but most still have to work a bit for their allowance.

The FDIC offers a variety of assistance to help teens and consumers understand how to handle their money and resolve complaints. Summer 2006 - Start Smart: Money Management for Teens

 

This publication presents some helpful guidelines and suggestions parents may follow. It provides general background and outlines (by age group and stage of development) children's understanding and use of money.  It also addresses conflicts about money and provides activities you can use to teach your child about money.

Summer 2006 - Start Smart: Money Management for Teens