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Teens & Money
Marshall Loeb encourages parents to take another look at offering allowance as a
payment to your child for household chores. His opinion is that children need to
do household chores in order to contribute to the family and that allowance should
be tied to some other action. He encourages creative thinking when it comes to ways
to promote fiscal responsibility in your teen.
Link: Teaching Kids Fiscal Responsibility
A detailed report on how a parents wealth, and how they handle it can have a major
effect on their offspring. Middle class or high class, this article stresses the
importance of teaching your children the responsibilities associated with money.
Rich kids may be given a lump sum or a prepaid card but most still have to work
a bit for their allowance.
The FDIC offers a variety of assistance to help teens and consumers understand how
to handle their money and resolve complaints. Summer 2006 - Start Smart: Money Management
for Teens
Link: Sources of Help and Information About Money Matters for Teens and Families By FDIC Consumer News
This publication presents some helpful guidelines and suggestions parents may follow.
It provides general background and outlines by age group and stage of development
children's understanding and use of money as well as conflicts about money. It also
identifies activities you can use to teach your child about money.
Link: Teaching Children Money Habits for Life By Sharon M Danes and Tammy Dunrud
Summer 2006 - Start Smart: Money Management for Teens
Link: A Final Exam: Test Your Money Management IQ By FDIC Consumer News
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