Teaching adolescents how to manage their finances is one of the most important things to help young people with beyond how to behave and make good decisions. Oftentimes teens are not aware of the power of just saving and/or investing a small amount of money at an early age. It is true that as a young person, buying the latest Rhianna CD tends to trump any long term wealth plans. Yet, if teens could begin to make a connection to their early financial habits and the long term implications on their adult lives, they may think twice about buying that second CD in favor of socking it away or rolling it into an investment. Parents often think that investing is something that grown-ups do, yet the sooner young people recognize the power of $5 saved or invested, the sooner they will begin to think about all the ways that they can not only preserve their money, but also how it can work for them while still having a little something to oneself in the present. Teens need to be aware that big credit companies are waiting for their 18th birhday (and sometimes even earlier) for them to prey on. Savvy parents and teens understand the dangers of using credit cards, but do not always make the connection between early habits and contributions and long term wealth.
RemoCounseling.com
Teen Friendly and Family Counseling
Soutbury, CT
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