How Much Pocket Money For Teens is Too Much?
If you ask a young person what they spend their pocket money on, most will say that they don’t have a lot of it and are happy with the little bit they have to live on. While this is understandable, because most teenagers don’t come up with $100 bills, there is something you need to know. Most of those same teens also don’t know where their money is going either. So while you are giving them an allowance to pay for school, it could be their pocket money for drugs and alcohol.
This is why it’s important to teach your teens how to make an allowance and show them what it means. It doesn’t matter if they are making two or four hundred dollars a week. They still need to learn how to separate their pocket money from other money they might earn. They also need to know how much of their allowance goes towards their debt load as well as what they can spend it on.
So how much pocket money for teens do you need? This depends on your definition of “pocket money.” If you are teaching them about budgeting and saving for the future, you don’t need a lot. On the other hand, if you want them to start making money, you will need to set limits and show them what they can expect to get out of it.
How much money do you think your teen really need? When you are asking this question, you have to consider their age. Teens have a few options as far as money goes. Some choose cash, while others can choose to put some of that money into a student credit card that has low interest rates. This way, when they go out and purchase things that they need, they don’t have to worry about adding any interest to their pocket money.
How much pocket money for teens is enough? That depends on what your definition of “enough” is. Do you think your teens will be able to buy everything that they want when they get older? If so, you probably won’t need as much. On the other hand, do you think you can provide them with the same level of entertainment that they would get from playing video games?
How much pocket money for teens is too much? This question usually arises when parents are trying to provide their teens with as much pocket money as possible without jeopardizing their educational funding. Teens have a few options when it comes to spending money. They can spend it on video games or expensive clothes. While it’s true that some kids do end up spending money on these things, there are others who manage to save most of what they earn. As long as you are realistic about your expectations, you can provide your teens with enough pocket money to get by.