Parenting Your Teenager: Kids and Money

Most teens go into the work world ill-prepared to manage the money they will be making. Even if their parents have attempted to teach them about money, they still haven't had the wonderfully frightening experience we have all had. You know the one: It's called ``getting to the end of the money before the end of the month.''

Here are some tips on teaching teens about managing the money they are about to make.

Once they get a job, here's what to do. Have them take the very first pay check and ... blow it. You might have been expecting me to say save it, buy a savings bond or something else responsible. Here's why I suggest having them spend it: They get to experience the benefits of hard work and have some fun.

After the first paycheck, here's how to handle every other paycheck, for the rest of their lives. I call this the 10 by 4 solution. With each and every paycheck, take 10 percent and put it in four different places.

1) First 10 percent: Pay yourself first.

Put this 10 percent in some form of savings that you do not touch until you retire. Begin this when you're young, and it's amazing what can happen. If a person starts at age 21 and puts just $1,000 a year into some kind of savings that will gain at least a 10-12-percent return a year (this is very doable, by the way), and did this for only eight years until age 29, and then didn't touch it until age 65, he or she would have accumulated almost half a million dollars.

2) Second 10 percent: Give it away.

If you are a person of faith, you've probably been taught to tithe. Whether it's tithing or simply giving to a favorite charity, giving away 10 percent teaches your brain an interesting thing: If I can give this away, there must be more than enough to go around. A nice way to feel.

3) Third 10 percent: Put this 10 percent toward getting rid of any debt that may have accumulated.

4) Fourth 10 percent: Save it up for something you really want.

For many kids that's a car. Or maybe a trip, a stereo or some nice clothes.

In this way, you are teaching your teen, from day one, how to live on 60 percent of his or her income, instead of the 110 percent that most of us live on.

Visit parentingyourteenager.com for tips and tools for thriving during the teen years. You can also subscribe to our f*r*e*e 5 day e-program on parentingyourteenager.com

cleaning service near Bannockburn ..
In The News:

Learn how to act against cybercriminals in 2026 with essential security steps like two-factor authentication, software updates and credit freezing.
Choose between OpenAI releasing Sora text-to-video model, the AI race heating up, or Waymo driverless cars launching in cities across the country
Learn how to set up Google Maps and Apple Maps on your phone to automatically remember where you parked. Step-by-step instructions for enabling location services and parking detection.
Phishing scammers use rnicrosoft.com domain to impersonate Microsoft by replacing "m" with "rn" in typosquatting attacks that steal login credentials.
OpenAI announces new teen safety rules for ChatGPT users under 18, blocking romantic roleplay and requiring extra caution on body image topics.
A 2025 data breach at fintech company 700Credit exposes personal information of more than 5.8 million people through compromised third-party integration partner.
Retailers lose $76.5 billion annually to return fraud as nearly 10% of U.S. retail returns involve fraudulent activity, with $850 billion in returns expected in 2025.
ShinyHunters claims responsibility for stealing 94GB of Pornhub user data affecting over 200 million records and demands Bitcoin ransom.
ChatGPT 2025 now connects to Apple Music, Canva, Expedia, TripAdvisor and OpenTable through built-in apps that help users create playlists, design graphics and more.
Apple releases emergency patches for two zero-day vulnerabilities actively exploited in attacks. iPhone and iPad users urged to update immediately.
DoorDash launches Zesty, an AI-powered social app that recommends restaurants through conversational search, now testing in San Francisco and New York.
Cybersecurity firm Infoblox reveals that over 90 percent of parked domains now redirect visitors to scams and malware, making simple typos extremely dangerous.
The Fox News AI Newsletter covers the latest artificial intelligence technology advancements, including the challenges and opportunities AI presents now and for the future.
GPT-5.2 is now live for all ChatGPT users with improved coding, writing and image interpretation, with Kurt Knutsson offering his review.
New iPhone replacement scam uses pressure tactics and fake carrier calls to steal devices from buyers. Criminals claim shipping errors and demand urgent returns.
Amazon Ring's new facial recognition feature sparks privacy controversy as Electronic Frontier Foundation critics argue the AI upgrade expands surveillance risks.
New Android banking trojan Sturnus steals credentials, reads encrypted messages and controls devices.
Denmark's 3D-printed student village proves automation builds 36 apartments faster than traditional methods. Skovsporet project shows housing future.
Discover Android's new Sound Notifications feature that alerts you to smoke alarms, doorbells, and baby cries even when wearing headphones.
New SantaStealer malware reportedly threatens holiday shoppers with password theft. This Christmas-themed info-stealer targets browsers and crypto wallets.
The Christmas season brings a surge in Netflix phishing scams targeting shoppers with fake emails. Stacey P received convincing scam but verified account first.
San Francisco Giants invite Jamie Grohsong to throw ceremonial first pitch at Oracle Park after he learned to play baseball with a bionic hand following an injury.
FBI warns cybercriminals are stealing family photos from social media to create fake proof of life images in virtual kidnapping scams targeting victims.
Instagram's new 'Your Algorithm' tool lets you control your Reels feed in real time. The app now gives you power to customize what videos you see.
Major Marquis fintech breach exposes 400,000-plus Americans' data through unpatched SonicWall vulnerability, with Texas hardest hit at 354,000 affected.

An Overview of Alternative Treatments for Attention Deficit Hyperactivity Disorder

Since so many would rather avoid the use of stimulant... Read More

First Year With Twins - A Father?s Point Of View

People always ask my wife and I: "How did you... Read More

A Mothers Way

Dear MomOn this day set aside to honour "Mother's" let... Read More

Finding Answers to Underachievement

Finding answers to a child's underachievement is often a difficult... Read More

Parents --- Homeschooling Can Take a Lot Less Time Than You Think

The time you will need to teach your children the... Read More

From Birth to Teen, Spirituality in Children

Until about the age of six, children do not generally... Read More

Parenting Confidence - Who Needs It?

It used to strike me as odd - but really,... Read More

Bath Time Fun

Bath time can be fun or it can be a... Read More

Reclaiming Her Identity: A Mothers Diary

After giving up my profession to become a wife, a... Read More

Inattentive ADHD: Just Like Winnie the Pooh

Winnie the Pooh is the classic picture of Inattentive ADHD.... Read More

7 Ways to Survive the Start of the School Year

It happens every year. Just when you are settled in... Read More

How Being a Mom Makes You a Better Professional

"Becoming a parent can make you a better worker," New... Read More

Breaking the Cycle of Emotional Blackmail

Family decision-making is an intriguing phenomenon. Many factors become part... Read More

Winning The Whining War

Jason Meridith's two-year old son whines when he wants more... Read More

How Do I Get My Child to Read?

Well first off, please to don't institute the ? hour... Read More

Finding A Caregiver You Can Trust

Choosing to leave your child with a caregiver is one... Read More

Parenting Your Teenager: Ask Questions

Many parents seem to be more than a little confused... Read More

Parents Demand Dumbed-down Tests:An Unintended Bad Consequence of the No Child Left Behind Act

The No Child Left Behind Act of 2001 is making... Read More

Consistent Boundaries Makes Discipline Easier

Homes should be run by parents, not children. So many... Read More

How to Help Your Children to Blossom

I am writing this from the beautiful mountains of Western... Read More

Puberty - Get Ready to Play the Puberty Game

Puberty can be a difficult time for children. Not quite... Read More

Internet Dangers - Protecting Children from Internet Jeopardy

Parents are in a unique position to "monitor" their children's... Read More

Labeling is Disabling: Achieving Congruent Communication

A small town, somewhere in the world, was managed by... Read More

Parents of Teens: Do You Ever Ask WHY is she so MEAN to me?

Do you ever wonder what is behind the occasional nasty... Read More

Play the Ball, Not the Man!

As parents and teachers, sometimes we want to praise, at... Read More

pet-friendly home cleaners Mundelein ..