Teaching teenagers how to handle money.

Several years ago we started a money program with our children. They each get an allowance at the beginning of each month. They must budget their social costs, guitar expenses, make-up expenses, etc. for each month. Our son will be graduating from high school next year so we are going tommorrow to obtain his debit card and he will begin planning out his money for gas, food at school, back to school stuff, social plans, etc. so he can learn how to handle money when he goes away to college. Money is such a hot issue with families these days. The rising cost of gas, food, living day to day, but it is our job as parents to be realistic about what is necessary to become good with money. It takes knowledge about the basic costs, knowing how much one has each month, knowing how to save, put off impulsive buying, shopping for the best buy and best product, seeing the big picture of a checking account, rather than the "just for today" approach. As you know my parents never had money. When I was sent off to college, I was expected to make it on 10.00 dollars a week. Yes, I said 10.00 dollars. Now I know it was 23 years ago; however, it was awful difficult to even understand money because I was already in the hole. Another thing about money is to talk about it. Don't be afraid to involve your children in the discussion of money, but do not make it an anger issue, that is the problem with money is causes anger. What our children need to learn is that talking about these difficult issues will give them confidence and help make better choices as adults. Also, it validates them as individuals when we include their input on the money process. The difference between expectations and reality may be an indication that we parents have made the money issue an uncomfortable subject, much like the sex talk and when something is avoided it may become the very thing that causes us grief and frustration. Talk, listen, involve and always remain calm when discussing hard topics, it is a good investment for your future.