Teenage spending habits
Dec 31st, 2007 by Lilian
If you are a parent to teens, you will know how important it is to be a rich parent. Even if we are not rich, we have to at least some financial freedom because they have come to an age where materials matter a lot to them. When they were small, it is probably alright to make do with hands-me-down clothes and shoes. I normally get them from my older siblings.
However, when they are in their teens, I feel it is important they keep up to their peers in terms of fashion and trends. I certainly do not want them to stick out like sore thumbs in social events as in my opinion, they are at their most fragile stage in being part of their peer group. However, on the other hand, I also want to make sure that they do not get into the habit of spending excessively as they may end up with bad money managing skills.
I don’t want them to end up as adults who constantly need Credit Cards For Bad Credit to help them through. I want them to learn to manage their money while being able to afford living decently. So, in real life, it is very tough guiding them to be a smart shopper and yet, fashionable teen.
That said, I just gave my eldest son $50 for him to get a haircut. This is unlike the $5 that he used to pay for a hair cut at the Indian barber shop. After all, this is New Year’s Eve and he has party to attend.