I can remember when I was around fifteen or sixteen having a regular after school and summer job. For my age I felt like I made pretty decent money but I spent just about everything I made. I wasn’t a really big saver and was really never taught the fundamentals of saving for a rainy day. I can remember a few of my friends saving a lot of what they earned from working and eventually bought a nice car with cash and extras that their parents wouldn’t buy them.
Now that I have a fifteen soon to be sixteen year old I am starting to think about getting her a checking/savings account that will come with a debit card so she can begin to learn financial responsibility and practice safe spending. I want Sabreena to learn how to budget her money for things that she wants but at the same time I want her to save a few bucks for that rainy day.
Last year when Sabreena was a freshman in high school she took an accounting/business class which I suggested she do so that she could get acquainted with accounting and business practices. Not entirely sure this class with help her be more financial responsible but at least she has been exposed to an accounting class which in my opinion can only help her in the future.
I feel as parents we talk to our kids about drinking, drugs and sex but nothing when it comes to money. We need to teach our kids to be responsible with their money and hope that the few things we do teach our children will stick. As parents all we can do is guide and provide the information necessary for our kids to be successful.
If you have kids have you spoke to them about being financial responsible? Do they have their own bank account?
I wrote this review while participating in a campaign by Mom Central Consulting on behalf of American Express and received a promotional item to thank me for taking the time to participate.
