Monday, April 24, 2006

Should my teenager pay a small bill each month?

hi got this question from a reader Her oldest son got this first job working about 20 hours a week. She wants to teach him to be responsible about money and wanted to know what other frugal like folks thought.

I got my first job at 15 and had to give my mother 1/4 of my money made to put towards my college savings. Everything else was mine to use however I had to pay for any fun stuff that I wanted to do.


My 16 yr old son is now working. I want to teach him to be responsible with his money, should I have him to pay a small household bill each month?
Yes, a small bill
No, he should be able to do with what he wants
Put it towards college
Put it towards his own expenses (he needs to buy his own clothes etc now)
Other
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1 comment:

Jen said...

I think it's great that he's got a job. How about encouraging him to put a certain amount into his own savings each month?

If not, at least he'll be happy to work when he gets to college - something which has helped my own kids pay the bills at college!