Where your treasure is, there will your heart be also.
Parents are drowning under the flood of wants and desires for material goods that teens have. Teens are constantly asking for things, and it’s difficult for parents to keep up with their teens’ desires. These “things” can be expensive. Teens are impulsive spenders; therefore, they don’t always connect spending money, with their current living situation.
If parents can spend 100 dollars on tennis shoes, without it affecting their monthly budget, or needing to use credit cards to buy the shoes, that’s good. All too often, parents allow teens’ impulsive spending behavior to dictate their financial stability for the month. This often leads to parental stress, anxiety, and frustration. Parents often find that teens are content for just a moment, before they go on to the next thing they want.
It may surprise parents how selective most teens become when limits are put on how much money will be spent and when teens have to spend their won money from part time jobs to buy some things for themselves. Somehow the teens’ desire for things decrease. Eventually teens connect how much things cost, with how much money they have. If you’ve made a mistake of allowing your teen to set your monthly budget, and now wants to stop, it will be difficult, and it can be done.
When your teen passes up some expensive thing (expensive electronic game, clothes etc.) for a greater goal, (senior trip) you will know you have reached your goal. Smile, because you know they are well on their way to making better financial decisions.