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Teens Are Short On Money Skills

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Whether you are a teen or an adult, you have to be skilled in money management. No one can afford to ignore this skill. Teens, especially, cannot afford the luxury of expecting their parents or elders to take care of it for them.

Those parents are proactive who ensure to raise their teens with good money habits. It is the best way to prepare the teens for adulthood. It has been observed that a good many students get a monthly pocket allowance from their parents. Some have more in their pockets than the others. Yet, very few make it a habit of theirs to make out a budget for them. They do not even have a fair idea of how they are going to use their allowance. Teens are found, today, to lack money skills.

The proper attitude towards money has to be formed at an early age and children have to be taught by their parents on how to handle money. Lot of attention is being paid to bring financial literacy into the curriculum of the schools but the focus on the role of the parents has been neglected.

The youth, today, are not at all equipped to make important financial decisions in their lives. Teenagers normally do not spend their time thinking about credit card payments that their elders have to take care of, investment portfolios or household utility bills. One thing they will definitely fret over is whether they have enough money to buy the latest gadgets or to hang out with their peers at video game parlours or movies after school.

Teens have to be taught not only on how to stretch their pocket money but also on how to take on more serious obligations in life so that they can budget for themselves and build their own income.