The economy is tanking. Not to sound depressing or anything, but gas is a freaking fortune and milk for my beloved Quaker Oatmeal Squares is ridiculously expense. (Note: If you haven't tried Oatmeal Squares, then you should. They come in a blue box.)
I find is particularly interesting that in this time of financial worry, there are so many articles on parents talking to their teens about money. It shows that money is a big concern for people right now and I think it's a good thing for you to learn some financial tricks now, because soon you'll be in college and at some point you will be faced with the decision how to spend the last $15 in your wallet–buying a book for a class or ordering pizza. (I was there more often than I like to admit and while I usually went for the book, I did order pizza a few times.) Here are my favorite articles and a few tidbits of advice from them:
- The Deseret News (Salt Lake City) this article is the best one I read…It says, a recent Charles "Schwab survey showed that 71 percent of parents think the best way for teens to learn about money is from guided, hands-on experience or from a parent's example, but few involve their teens in family budgeting and spending decisions. In fact, the survey said parents were more likely to teach their teens how to do laundry (70 percent) and how to cook (68 percent) than how to regularly save money (54 percent), how to budget money (49 percent) and how to pay bills (43 percent)." Basically, your parents want you to understand money but aren't giving you a real chance to learn about it. You should definitely be more involved, even if it's just by an occasional trip to the grocery store to see how much your fam's food costs.
- Omaha World-Herald has great advice that gives teens a little more control over what they're learning financially. "Give children the opportunity to make financial decisions with a little guidance at first, said Kay Kruger, a teacher at Gordon-Rushville High School." I love this because if you're earning money at a summer job or something, you should have a say in how you spend it. Not to mention, you're the one who's stuck penniless when the money's gone!
- The Statesman (in India! – even other country's are teaching their kids about cash) This article is all about pocket money and allowances and how much is enough. I'm fascinated that it's basically the same discussion as you would find in your hometown.
- The Akron Beacon Journal (Ohio) says to "involve your teenagers in devising a plan to save for their college fund." This is a good one because your parents probably talk to you so much about getting into a good college that you might as well look at not only what grades you have to have, but what kind of cash, when you're deciding where you really want to go. I mean, hey, you're involved in every other step of the college application process. Starting to create a financial plan should be part of it.
What's the best financial advice you're ever gotten? Are you good with money or does it burn holes in your pocket?
