by T. Haskett

Created on: June 27, 2008

Having a job after school will most definitely teach your teen the foundations of money management. Money management is a valuable skill and asset to have in ones life. Without this skill it can lead to harsh overwhelming consequences. Having a job not only develops money management skills but also develops personal traits required to support the skill such as discipline, problem solving and the value of a job well done, etc. Skills that are learned through an after school job is discussed below in further detail:

1. Financial Appreciation
When your child grew up, he or she like most kids probably received a base allowance per week for doing some sort of chore. While this teaches your child that work has monetary value, is does not necessarily make them appreciate the value of money itself because as with most parents they buy everything for their children. When your teen obtains a part-time job after school they start to brand their own financial worth. Most teens end up spending the majority of their pay checks, but when their balances run dry, they then start to develop financial responsibility and understanding.

2. Budgeting & Management
When teens have held a job for a significant amount of time, there comes a time where they will want to do something with the money that they've got. Whether it be a down-payment on a car, college or a new computer or video game system, teens tastes can and will surpass their revenue threshold. This is where they start to learn basic budgeting and management. At this stage the mommy and daddy bank has been cut off, and need to find a way to obtain their goals without going broke themselves. This teaches them the value of saving money or institutional investment programs. These actions develop and demonstrate financial discipline and accountability for ones own life.

3. Value of Hard Work and Development of Overall Character
Having a job quickly develops the value of hard work in your teen. For some it takes a little longer but for most this is a very quick realization. When you teen works, they receive a pay-check. When your teen receives some praise, a raise or promotion, they then learn that hard work and dedication is rewarded in life. This then develops a person of diligence. This mindset will then surface and transfer its way to other areas of that persons life such as, academics, community involvement, personal fitness and effective family administration. Hard work develops a strong person with good moral fibre to him or her.

Therefore in conclusion, your teen having a part time after school job will not only teach him or her money management skills but also it will teach them skills that can be applied anywhere in life. By not having an after school job your teen is then depriving themselves skills that are essential to be responsible in life. Without basic financial discipline your teen will lead themselves into very hard economical state which will greatly inhibit their opportunities in life.

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