I am considering opening a checking account for my teen and making her responsible for buying her own clothes, lunch, etc. I'll put money in her account, and she will have to budget it. She's not old enough to get a real job yet, but I think it would be good for her to start practicing handling money on a larger scale.
Any advice or warnings for me before I do this? Also, do you know where I might find some rules/guidelines to make this work better?
Asked by Anonymous at 5:10 PM on May. 24, 2010 in Teens (13-17)
Answer by matobe at 10:14 AM on May. 25, 2010
Answer by itsallabtthem84 at 5:13 PM on May. 24, 2010
Answer by carmadsmom at 5:51 PM on May. 24, 2010
Answer by gdiamante at 6:29 PM on May. 24, 2010
Answer by MomInc at 9:38 PM on May. 24, 2010
Answer by Journey311 at 9:49 PM on May. 24, 2010
Answer by matobe at 10:17 AM on May. 25, 2010
We do a version of this for our daughter.She has an allowance that covers gas,food,shampoo,clothes etc at her discretion but she just finished her fresh.year in college.When she was in high school she already had a regular allowance for movies and that kind of thing then we gave her a clothing allowance other than coats ,formals,golf uniform,cross country or golf shoes and church clothes.It worked great buy too many hollister t shirts then see a OMGosh skirt and I shrugged...budget budget budget.By her sryear we gave her a set amount each month that included all her stuff except gasStarting now will help her learn how to handle money..She has done really well with her money this year,no problems.We are on all accounts.We thought this would stop when they graduated from college but our son is military ,not married and kept us.Only check while deployed.
Answer by drfink at 10:56 AM on May. 25, 2010
Answer by tyfry7496 at 10:48 PM on May. 25, 2010
Answer by PrydferthMenyw at 12:23 PM on May. 29, 2010