Comments on: Q&A Opportunity With Junior Achievement

By: Tricia

Tricia — Wed, 08 Apr 2009 11:56:54 +0000

Thanks for your questions…comments are now closed.

By: Ken

Ken — Tue, 07 Apr 2009 00:41:52 +0000

What 2 or 3 basic things can I do to begin to teach my 2nd grader about money?

By: Yankees Chick

Yankees Chick — Tue, 07 Apr 2009 00:23:53 +0000

SmileyGirl, I think that is a great question to ask. I don’t have any kids yet but was a teenager myself not too long ago (!) and I strongly feel that while it’s important for kids to understand that things cost money and have them pay for certain things, teaching them to save for the future (even the short-term future like saving up for a prom dress) is even more important. It’s not realistic to think that a teenager will be able to pay for everything themselves, but having them make a contribution to expenses like car insurance can work well (even if it’s just $25/month, it gets them in the mindset of “I am responsible for paying a monthly bill that in turn provides me with xyz service”). I think that MOST of the money that they earn should go into a savings account that they can see and be proud of and use for expenses that you both agree on – even though it is their money that they earn, I still think it’s a good idea for you to have some say over what they can use it on (i.e. they can’t spend all their babysitting money on clothes, they should have to save some of it for college, or a school trip they want to take, etc).

I hope this helps!

By: SmileyGirl

SmileyGirl — Mon, 06 Apr 2009 23:48:43 +0000

As teens growing up in today’s economy do you feel it benefits your personal growth to have to pay for part of your expenses (car insurance, gas, spending money, etc.) or should we as parents reward you more for saving your money. As a parent of a teen and two pre-teens, I struggle with the right balance of teaching my daughters to be responsible with their money by saving and at the same time showing them that life costs money and it is a priviledge to do things like drive, eat out, etc. I want them to realize that life is not a walk in the park where you can spend carelessly with no consequences but at the same time I don’t want them to feel so strapped financially that their years of youth are spent agonizing over money. Any advice?

By: Mike D.

Mike D. — Mon, 06 Apr 2009 17:27:53 +0000

Are teens today more aware of the economy, and more aware of how important saving vs. spending is, compared to 10, 20, etc. years ago. Is this trending in any way (more aware, less aware).

What do they think this recession will mean for that generation. Will it be more like the generation that came out of the great depression where they are less wastefull and got everything they could out of an item before getting rid of it, saving more, and using less debt? Or will this generation continue a lifestyle similar to what is in the economy now where people consider credit cards a way of life?