The age of adolescence is very difficult for both the adolescents themselves and their parents. For adolescents, this is an emotionally difficult stage in their lives because of the great changes that occur in a short period of time, but for parents, these difficulties are more manifest in financial terms. Teenagers often need a variety of things, just to be with others or to stand out. At this age, it is what you own that determines everything. Unfortunately, parents often can’t afford to buy everything they want for their teenage children, causing conflicts and problems. In fact, it is easy to prevent all of this by simply teaching your teen that:
“Money does not grow on trees and that it must be earned”
In order to teach your child the importance of money, one has to start by tuning in to the process, because it really won’t be easy. We always want to give our children the best, so saying “no” is often very difficult, but it must be understood that a child who does not know how hard it is to make money should not dictate how you should spend it. You should ignore your child’s anger attacks and try to keep a cool mind no matter what the child says or thinks at a given moment. Keep in mind that what you are doing is good for him as well, because in a few years he will have to fatten up money and be able to handle it.
After you have told yourself that you should never take your child seriously, you should start an open conversation. The key is to speak in a calm, non-aggressive tone, as it will only exacerbate everything. Start a conversation by saying that you only want the good, but explain that your options are limited and money is not an unlimited resource. The teenager’s most typical argument is that if others have, he also needs to, but you have to make it clear that everyone does not earn and spend the same. Explain this with realistic examples. Explain to your child how much money you make and how much you pay, for example, for rent, utilities, food, clothing, etc. Your child needs to understand that there are more important things to do, such as a new phone, branded clothing, and other things that make them stand out. Even if you can’t afford to buy it for your teenager, anyway, much of your income goes to his or her needs because he or she also eats, consumes water and electricity, and so on.
Unfortunately, it is rare for a teenager to be so conscientious that utterance alone will have a lasting effect and he will suddenly appreciate everything you do for them. This is not the case and the child should be given practical examples to enjoy on his or her skin. Teach your baby to build his budget out of pocket money. Often, parents choose to give their children pocket money more often, for example, once a week, precisely because they are afraid of the child’s ability to plan a budget and distribute their money for the entire month. This is the biggest mistake of preventing a child from learning. When you divide the money, you do all the planning for him, so don’t be surprised if your child doesn’t understand why to save. He just hasn’t felt what it is like to have no money on his skin.
Best way to teach the importance of money is to make money
It is already possible to get a job at school during your teenage years and you should definitely encourage your child to take advantage of it. Children also often agree, because they understand the difficulty of working only when they have already tried it. Also during school, you should make your teenager earn money for themselves, for example, by helping with different homework. This is not the same as doing independent work, but it will at least make you realize that money does not grow in trees and that it must be earned.
Raising a teenager is very difficult because he does not yet have a clear understanding of what adult life is like, but at the same time he no longer wants to be considered a child. Then the only chance for parents is to start introducing them gradually to adult life, including their personal finances and how to manage them. Not only will this save you some money on the endless needs of teenagers, it will also help the teenager, as he or she will soon have to start an independent life and be able to handle money.