Comments on: 5 Tips to Get Your Teenager To Save Money http://www.debtkid.com/5-tips-to-get-your-teenager-to-save-money Debt Kid - I'm Getting Out of Debt Sat, 21 Nov 2009 02:42:10 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Benjamin http://www.debtkid.com/5-tips-to-get-your-teenager-to-save-money/comment-page-1#comment-13543 Benjamin Sun, 02 Nov 2008 00:12:33 +0000 http://www.debtkid.com/?p=1232#comment-13543 Along with saving and investing, I would suggest that parents encourage their teenagers through actions. Work to expand your means, not live below your means. In other words, parents should set an example of acquiring assets that pay them positive cashflow which will then allow them to buy their "toy". If teenagers grasp onto that concept, they will be far better off down the road. It is great to enjoy cars, clothes, whatever materialistic thing you like, but it is how you pay for it that really matters. Along with saving and investing, I would suggest that parents encourage their teenagers through actions. Work to expand your means, not live below your means. In other words, parents should set an example of acquiring assets that pay them positive cashflow which will then allow them to buy their “toy”. If teenagers grasp onto that concept, they will be far better off down the road. It is great to enjoy cars, clothes, whatever materialistic thing you like, but it is how you pay for it that really matters.

]]> By: Eric http://www.debtkid.com/5-tips-to-get-your-teenager-to-save-money/comment-page-1#comment-13534 Eric Sat, 01 Nov 2008 20:10:42 +0000 http://www.debtkid.com/?p=1232#comment-13534 @Mr Cool Ice - no doubt - trying to figure out what is going on in a teenager's mind is difficult enough and sometimes the reverse psych is the best method. Also, encouragement needs to be supported by the parents taking their own advice! @Mr Cool Ice – no doubt – trying to figure out what is going on in a teenager’s mind is difficult enough and sometimes the reverse psych is the best method. Also, encouragement needs to be supported by the parents taking their own advice!

]]> By: Mr Cool Ice http://www.debtkid.com/5-tips-to-get-your-teenager-to-save-money/comment-page-1#comment-13411 Mr Cool Ice Thu, 30 Oct 2008 22:26:09 +0000 http://www.debtkid.com/?p=1232#comment-13411 I think #3 is the only good advice here. The only thing you can do with a teen is encourage. If you start saying "Ok you have to save 50% of this money", then you are sending the wrong message. It's HIS money, he can do whatever the *&^% he wants with it. However, encouraging him is definitely a must. If you have a nice lifestyle, explain to your child that the way to achieve success is through wise savings and investments. "Now" is not always as good as "Tomorrow". It has to be his own choice, or the lesson won't be learned. I think #3 is the only good advice here.

The only thing you can do with a teen is encourage.

If you start saying “Ok you have to save 50% of this money”, then you are sending the wrong message. It’s HIS money, he can do whatever the *&^% he wants with it.

However, encouraging him is definitely a must. If you have a nice lifestyle, explain to your child that the way to achieve success is through wise savings and investments. “Now” is not always as good as “Tomorrow”.

It has to be his own choice, or the lesson won’t be learned.

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