Teens Learn Financial Responsibility from Working

Lee Hansen By Lee Hansen, 6th Sep 2014 | Follow this author | RSS Feed
Posted in Wikinut>Family>Teenagers

When working teens contribute to the family home it teaches them how to be more responsible and better stewards of their finances as they reach adulthood.

Teens and Money

Are your employed teenagers mooching off of you just because you are the parent? Do they feel like any money they earn should be used exclusively for whatever their little heart desires? Should they be required to give a portion of their earnings towards the household expenses? I say yes because they will learn that part of life is learning how to manage their money responsibly. It will also let them know that when they get out on their own it won't be free. There is a cost to pay.

Teaching Moment

Having a job as a teenager creates a teaching moment that parents would do well to take advantage of.

Teens who are employed have a great opportunity to learn a lot about responsibility. If they want to keep their jobs they have to learn to be on time and adhere to what their employer asks them to do. And as a result they are rewarded on pay day.

A working teen also has the chance to be responsible by contributing to the home in which they live. While their parents shoulder the brunt of the bills, assigning them a small portion of their earnings for household expenses is a good thing.

Rent

When your teenager moves out of the home, it is a good chance that they may go to college to further their education. And if all goes well, they will eventually get a place of their own after graduating from college. Getting their own place teaches them that rent isn't free. This lesson will have already been learned if they have been in the habit of setting money aside for the family household as a working teenager.

Utilities

Whether the heat is running to remove the chill from the air or the air conditioner is used to cool you down, it costs money. It isn't free. If a portion of their check goes towards the utility bills they will learn to make better choices when they are out on their own having to pay the bill themselves.

Groceries

Have you noticed how much food teenagers consume? That's just what they do for their growing bodies. It can be quite costly. They will find this out when they branch out on their own.

Car Insurance if They Own a Car

Many parents give their teenagers cars when they get their license. Insurance is something they should contribute to for the privilege of driving a car.

Clothes

While they may want to keep up with the current styles it can often be costly if they fall prey for every fad that comes out. There is nothing wrong with keeping up with the latest fashion trends but it isn't necessary to buy a wardrobe of clothes every single paycheck.

Lessons

When all is said and done, teens will still have the majority of their check to spend as they want. However, by contributing a set amount to their household and saving a portion , they will become well-versed in matters regarding financial matters. It isn't to be looked upon as a penalty but as a means of becoming responsible as they reach towards adulthood.

And while they might not necessarily appreciate or understand the importance of what you're trying to teach them, they will get it eventually. Who knows? They may even thank you.


Credit: Wikimedia Commons

Tags

Earnings, Finances, Financial Responsibility, Household Expenses, Jobs For Teens, Money, Parenting, Parents, Teenagers, Teens

Meet the author

author avatar Lee Hansen
As a breast cancer survivor I have learned to take time to smell the roses in life. I love sharing my passion of reading to children. My pages will be on various topics.

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Comments

author avatar Sivaramakrishnan A
7th Sep 2014 (#)

Good points Lee. As Asia prospers I find parents spoiling their children rotten catering to their endless whims including holidays to exotic places with their friends! siva

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author avatar Lee Hansen
7th Sep 2014 (#)

Thanks Siva. I have heard that story repeatedly.

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author avatar Lee Hansen
7th Sep 2014 (#)

Thanks Nancy. I hope it will help both parents and teens.

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author avatar Nancy Czerwinski
7th Sep 2014 (#)

Lee, this is an article that needs to be shared. The points you bring up are all very true and I agree with all of them.

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author avatar Retired
7th Sep 2014 (#)

Another important and topical article, Lee. Sometimes I feel guilty when I think of the long hard hours my own teens put in after school, working to contribute to our single-parent family. But, then I remember my own long hard hours doing the same. It's character building and establishes lifelong responsibility. Thanks for this!

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author avatar Lee Hansen
7th Sep 2014 (#)

Susan they will definitely be building character. They have a good example in you. Thanks.

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author avatar Delicia Powers
8th Sep 2014 (#)

Outstanding and loving tool of preparation for the "real world" the soon must face...thanks Lee...

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author avatar Lee Hansen
8th Sep 2014 (#)

Thanks D. Hopefully it will soften the blow when they get out in the real world.

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author avatar Smileworld
17th Oct 2014 (#)

I have a niece and nephew in Canada who are working part-time while studying. They learned to be responsible. In the Philippines however, we have a different situation. Though they want to work but, the lack of opportunity prevented them from earning.

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author avatar Lee Hansen
19th Oct 2014 (#)

Smileworld thanks for stopping by. Glad that your niece and nephew are getting an opportunity to work.

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