Teach Teens Alone Financial Governance

Diposting oleh pak yons on Jumat, 21 Desember 2012

TEACH children to manage finances from an early age is one of the measures to prevent it stuck in anticipation of future financial turmoil.

Here are some steps you can do to educate your children, since his teens, to be more disciplined and responsible for managing the financial life:

1. ration system

Encourage children to create a financial plan by compiling monthly spending budget. Use the envelope system to store and separate funds for each category of expenditure. Thus, the child will be easier to control.

Do not allow children to bring ATM cards or credit cards when out of the house. Let him manage the money you give every month with a quota-based system.

2. Working part-time
Encourage your child to work part-time so she gets a lesson about the difficulty of making money, so they can better appreciate the money more wisely and manage it.

3. contribution
If your teen wants new gadgets, motorcycle, or car to support their activities, do not be too easy to grant his request. Give condition that contributed to the child, for example, save some money to buy goods or responsible finance her treatment at a later date.

4. savings Accounts
Open a savings account in the name of children early. Give her a journal to record the financial and let him deposit the funds into the savings of the rest of her monthly allowance.

5. credit card

When your teen has learned how to draw up a budget and manage your finances well, he's ready to take responsibility for holding credit cards. Explain to your child about the pros and cons of plastic money. Teach children to pay the full bill on time every month, the interest rate, and the consequences of what he would face if late paying their credit card bills
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