Good Spending Habits for Teens
With all our financial obligations it’s easy to lose focus when it comes to teaching good spending habits for teens.
A recent study has shown that 21% of teens spend their money on clothing and food. 10% on personal care and accessories, and a further 8% on shoes and electronics.
In this WEALTHWISEmag.com article Wikus Olivier, debt counsellor at DebtSafe, stresses the importance of instilling good spending habits for teens. This will set a firm foundation that will empower them to build a financially secure future.
Wikus talks about the various ways which parents can teach their children good spending habits. These include: Opening a savings account, part-time or holiday jobs, chores, how to set boundaries and monitoring their spending. Whatever you do, don’t miss the opportunity to teach good spending habits for teens.