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 Photo courtesy of MSN Money

Have you become a human ATM? Just go into your backyard and pluck some bills off the money tree.

What happened to the great little financial wizard you were raising? You thought you gave her the tools but, that ship has obviously sailed.

Rein them in, re-introduce some skills and suggest new ones.

Try some of these tactics instead:

1.)    Budgeting. Don’t let them give you the dead share and leave in a huff, save yourself the emotional hard time and get someone else to do the dirty-work.  Most community colleges have on-line personnel finance classes.

 2.)    Get a job! Nothing shows teenagers how far their money will go, as being a part-time minimum wage employee or having a babysitting job will do.

3.)    Chore list. Tack lists to their favorite appliance, the refrigerator, with prices included.They calculate how much they have to do to earn that new video game, prom tux, or cool earrings. (*Note* make it clear these are above and beyond what is expected to be a part of the family)

4.)    Save-oh no, not that four letter word. Let them brainstorm how they can cut-down to save some extra cash. (One less fast-food trip, perhaps?) They already know everything so let them figure out what they need to do to save the money!

 5.)    Be creative-hone those entrepreneurial money-making skills. If you’re a computer genius, fast typist, or can build anything offer your skills to classmates for minimum price. Think typing term papers, doing power points, any skills people will pay not to have to do themselves.

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College Highlight:

harperPhoto courtesy of Harper College

http://goforward.harpercollege.edu/

 

Further reading:

http://money.msn.com/investing/why-high-school-kids-are-financially-illiterate

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