Whether you’re starting a Saturday job or off to Uni, money will always be really important. And while all of us would love to have more, how you manage it can make a real difference to what you can spend or even getting the stuff you want. By sensible budgeting and planning ahead with savings goals, you can stretch the money you have further.
By now you will know exactly what the saying, ‘money doesn't grow on trees’, means. When you get cash in your hand – pocket money or a birthday gift – it’s just too easy to spend it. But if you put some of it in a savings account, you can’t just spend it on a whim and it will go further.
Okay, it’s not as exciting as spending but here’s another way to look at it. Give your savings account a new name. How about ‘iPad Next Gen’, or ‘Jack’s new racing bike’? If you set yourself a savings goal, it makes it easier (and more exciting) to put money aside when you get it.
Get into the habit of always having something in reserve. When you’re in your teens, keep a tenner in your phone case for an emergency. And as you get older, be prepared for the inevitable ‘rainy day’ coming along.
Are you struggling to get through to your kids about the importance of a sensible attitude towards money? Perhaps you’re worried about the security threats associated with online transactions? Or how easy it is to part with money using apps like Apple Pay and PayPal?
Don’t worry, you’re not alone. It’s something we come across quite frequently. That’s why we’ve gathered some online content (they’ll know what that means) especially for parents of 11-18 year olds.