These days, if you want to be a serious prom player, you have to spend serious cash. It has become an event of conspicuous consumption. Many teens who work and have big sums of disposable cash will spend even more. Understanding the difference requires effort for parents and teens. Here are some suggestions to help teach money-wise skills to youth.
Parents are responsible for shaping their child's values about money.
Often you teach these through your attitude and actions. If your child hears you talking about a neighbor's new car or vacation and you follow suit, then you're sending a message to your child. Make certain your actions and words send the same message. Set limits with your child. Work together to establish a spending limit.