by B Nance Jr

Created on: September 02, 2011

Can you make your teens change their spending habits? Of course you can! There are many ways to do it. As parents you have to make sure you are as involved as possible in planning their financial future. Curbing spending habits is a good way to put your teens on a path to better financial choices. You can curb their spending habits by giving them a limited credit card, showing them how to shop, picking better friends and getting a job

Limited Credit Card

One way to curb your teens spending habit is to give a them a limited credit card. If the spending limit is not high they will not be able to get themselves in much financial trouble. If they try to purchase an item they can't afford they will either give up on the item or find an alternative legal way to obtain the item. Giving them a limited credit card helps with a sense of responsibility if they can't manage limited funds how are they going to manage a large sum.

Showing them How to Shop

Showing your teens how to shop is a good way to curb your teens spending habits. If your teenagers are going to the mall to buy an item they can find much cheaper online, then they could save the cash and invest. If they want to go to the mall for the experience by all means go ahead, but knowing they saved money online encourages a better shopping habit. If they go to the mall and spend the difference from the online savings then they have earned that right.

Picking Better Friends

One of the quickest fixes to better spending habits is picking better friends. If you buddy up with people who more in common with you especially spending you will less likely feel peer pressured to buy something you do not want buy. Friends in your teenage and your adult life has to be a top ten if not the top ten reason for spending habits. If you are used spending $200 a month on leisure activities and your friends like to spend $600 kick them to the curb unless they respect your space.

Getting a Job

I'm sure parents will agree this is the number one reason/way to change a teens spending habit is have them get a job. If it were up to the parents newborns would be working. Having your teen get a job teaches them responsibility and gives them a taste of the real world. Its hard as parents to keep up with allowance, but with a job the check comes on time.

There are many ways to curb a teens spending habits. It is up to you and your teen to make the decision. Good luck!

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