Your Money News Get a Printer Friendly Version First-year college students have to learn to handle their workload, their personal relationships and their time. But one of the most important lessons they learn is how to handle money. The more money-management skills teenagers learn before leaving home, the better. If possible, start teaching them financial responsibility a year or two early so that you can answer any questions they have and help them avoid trouble.
Nothing teaches teenagers the value of a buck like a part-time job.
You can tell them about the cheap pants at Kmart until you're blue in the face, but as long as it's your money they're spending, they won't listen. Let children learn from their own mistakes with their own money. When they bring home that first paycheck, you can explain what tax deductions were taken and how the government uses that money. A part-time job holds other important lessons for a teenager like the need for punctuality, a neat appearance and manners. Work Out a Budget A budget may be a hard sell to a teenager who has a job.