It is very important for individuals to know how to handle finances. Being thrifty is a good trait and very few youth possess it. Parents are the very first teachers of the children and so they must set good examples. As parents, you can give your kids budgeting activities so they will learn to handle finances at an early age.
A vey simple task or activity is to allow your kids to budget their allowance. You can start by giving them weekly allowances and then after some time, give them their monthly allowance. Once they have the money, they will be in charge of all their expenses. Dont give them extra money especially if they spent their allowances unwisely. Let it be a lesson for them so that they will learn from their mistakes.
Another thing, parents should also encourage their teens to join youth groups in your area. That way, they can participate in the various activities of the group. In fact, some activities of the youth group can teach the members on how to spend money wisely.
Youth groups usually organize special occasions and the group is often divided into several committees. One committee will be in charge of handling the finances for the...
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