If your teen had a summer job or is getting an after school job, it's important to make sure that you are teaching them to spend their money wisely. Even if your teen or child doesn't have a job, teaching them how to handle allowance money is important.
After all, discipline should focus on teaching kids life skills that will serve them for the rest of their lives. Money management is a necessary skill that can make a big difference in your child's life.
When a child grows up with knowledge about how to save money and make healthy spending choices, he's much less likely to fall into a trap of perpetual debt as an adult. Spend time teaching your child the value of a dollar early. It'll be much less painful when he makes financial mistakes when he's 15 instead of when he's 30.
Learn more about how you can teach children self-discipline with money.