TEENS AND WORK

From TODAY, Voices
Friday October 24, 2008

By Dr Bill Maier

Having a teenager in the house shouldn’t drain your finances.

Teens can have a lot of expenses, but there’s no reason why they can’t help cover some of their costs themselves.

It’s good for teens to learn early that money doesn’t just fall out of the sky. Somebody has to earn it.

A recent survey showed that more than 70 per cent of all teens do some form of work to earn money.

And more than a third hold fulltime or part-time jobs — at least through the summer.

Of course, it’s important that you do not let their work interfere with school, but doing odd jobs on the weekends and throughout the summer months not only helps your budget, it also teaches your kids invaluable life lessons.

And once they start earning, use the opportunity to teach them good financial management, like how to give, save and invest wisely.

When they start to buy clothes with their own hard-earned money, they’re much more likely to be frugal when they shop.