Christmas Gift Ideas For 1 1 2 Year Old Boy Money Management For Teens

You are searching about Christmas Gift Ideas For 1 1 2 Year Old Boy, today we will share with you article about Christmas Gift Ideas For 1 1 2 Year Old Boy was compiled and edited by our team from many sources on the internet. Hope this article on the topic Christmas Gift Ideas For 1 1 2 Year Old Boy is useful to you.

Money Management For Teens

“My 18 year old son is driving me crazy. He has a great summer job and every cent he earns is spent on clothes, cell phone calls and parties. I’ve tried to get him to save some of his pay but he refuses to listen to me. Like me can make him understand the importance of good money management?”

Talking to your teen about money management can be a thankless task. I remember my mother’s pleas several years ago when she tried to encourage me to save, and I remember her advice going in one ear and out the other. The good news is that once I saw the light, so there is always hope!

How can you get your teen to understand the importance of starting an early savings and investment plan? As with any other communication issue with a reluctant listener, it is important to present your discussion from their point of view. If you try to impose your ideals and tell him why you think it is vital to save, he may just resent you like I did many years ago.

Let’s try to look at things from your teenager’s perspective and imagine some of the reasons why he might not want to save at this time. Then let’s examine some alternatives that would persuade him to reconsider a savings plan.

1. He does not know about salvation

The best time to teach children about savings is when they are very young and impressionable. Once a child is able to grasp the concept of money, the idea of ​​saving some of it should be instilled in ways that are fun and easy to understand.

In your case, it’s not too late to help your son learn how saving can improve his life. He may not want to save because he really doesn’t know much about the world of money. You have to make investing come alive to him in ways that a teenager can appreciate. For example, you can send him an email that introduces him to some websites that are great for learning about investing, such as http://www.investopedia.com. You can also download biographies on the internet about successful young investors like the inventor of Yahoo.com and forward to him.

2. He thinks saving will get him out

Look at the messages you may have sent your son about saving and spending. Is he used to hearing you say he can’t get something because you couldn’t afford it? Did you give him money for Christmas instead of the toy he really wanted? He may have associated being thrifty and saving with an inability to have the finer things in life.

Remember that most children live for instant gratification. Now that he’s making his own money, he might decide he wants to enjoy his hard work right away. Show him that instead of depriving him of pleasure, an early savings plan can help him accumulate a lot of money that will give him many opportunities. For example, if he invested 4,000 J$ per month at a net interest rate of 5%, and increased his savings amount by 10% per year, when he is 25 years old he would have more than half a million dollars! Search online for “savings calculator” to find a site where he can play with the numbers to see how much he has to earn from investing.

3. He thinks saving is no fun

Let’s face it – savings can feel like a chore if you don’t understand investing and it prevents you from getting the consumer goodies you really want. In the fast-paced life of a teenager, saving can seem boring. How can we “jump” the investment plan?

If your child likes the idea of ​​a challenge, why not issue them a savings challenge? One option might be to see how quickly he can save to reach a specific goal. Tell him that you will match his savings if he reaches it in a particular time. One of the rules of the game is that he will have to keep it untouched for at least five years.

You can also teach him about investing with the board game “Rich Dad”, “Cash Flow 1013. He and his friends can learn about investing in an exciting way. I also saw it available at some places in Jamaica.

Remember that despite all your best efforts, your son may not immediately follow your advice and start saving. However, sometime in the future he will remember his mother’s advice and start his investment plan, just like I did.

Copyright © 2006 Cherryl Hanson Simpson

Video about Christmas Gift Ideas For 1 1 2 Year Old Boy

You can see more content about Christmas Gift Ideas For 1 1 2 Year Old Boy on our youtube channel: Click Here

Question about Christmas Gift Ideas For 1 1 2 Year Old Boy

If you have any questions about Christmas Gift Ideas For 1 1 2 Year Old Boy, please let us know, all your questions or suggestions will help us improve in the following articles!

The article Christmas Gift Ideas For 1 1 2 Year Old Boy was compiled by me and my team from many sources. If you find the article Christmas Gift Ideas For 1 1 2 Year Old Boy helpful to you, please support the team Like or Share!

Rate Articles Christmas Gift Ideas For 1 1 2 Year Old Boy

Rate: 4-5 stars
Ratings: 6395
Views: 31248844

Search keywords Christmas Gift Ideas For 1 1 2 Year Old Boy

Christmas Gift Ideas For 1 1 2 Year Old Boy
way Christmas Gift Ideas For 1 1 2 Year Old Boy
tutorial Christmas Gift Ideas For 1 1 2 Year Old Boy
Christmas Gift Ideas For 1 1 2 Year Old Boy free
#Money #Management #Teens

Source: https://ezinearticles.com/?Money-Management-For-Teens&id=2391484

Related Posts

default-image-feature

Christmas Arts And Crafts For 2 Year Olds At Home African Travel Tips When Visiting Zambia

You are searching about Christmas Arts And Crafts For 2 Year Olds At Home, today we will share with you article about Christmas Arts And Crafts For…

default-image-feature

Children Ages 2 To 7 Years Old Reactions To Santa Mid-American Boy Scout Camps – Program Improvements Through the Tribe of Mic-O-Say

You are searching about Children Ages 2 To 7 Years Old Reactions To Santa, today we will share with you article about Children Ages 2 To 7…

default-image-feature

Child Ran Over By Father 2 Or Year Or Old ADHD Violent Behavior – Learn These Proven Effective Methods to Deal With ADHD Child Violence

You are searching about Child Ran Over By Father 2 Or Year Or Old, today we will share with you article about Child Ran Over By Father…

default-image-feature

How Old Is A 17 1 2 Year Old Cat Bob Dylan

You are searching about How Old Is A 17 1 2 Year Old Cat, today we will share with you article about How Old Is A 17…

default-image-feature

Cheap Ideas For Birthday Party For 2 Year Old Boy Unforgettable 30th Birthday Gifts

You are searching about Cheap Ideas For Birthday Party For 2 Year Old Boy, today we will share with you article about Cheap Ideas For Birthday Party…

default-image-feature

Causes A 2 Yr Old Cat To Be So Aggressive How to Take Care of Betta Fish

You are searching about Causes A 2 Yr Old Cat To Be So Aggressive, today we will share with you article about Causes A 2 Yr Old…