Money Management Ideas Especially For Teens

by Al White

Youngsters learn early the cliche' "money makes the world go round" and yet have very little sense when it comes to earning and using money responsibly.

I believe the cause for this is rooted in the fact that parents seldom step up to the plate when it is time to teaching children the difference between a debit and credit.

Most parents I know simply choose to avoid the money discussion altogether mainly because they are not well educated in the area of money management. They don't realize there are many ways available to teach children about how money works. The easiest and most obvious is to teach them using the one tool they are most familiar with — the Internet.

Youngsters spend incredible amounts of time on the Internet socializing and downloading stuff — most often using their parents hard earned money. The explosion of social networking sites makes it really easy to share with our youth the concept of how money works. Marketers and advertisers alike recognize the significance of so much attention neatly confined into nice little niche'markets.

Since parents are merely youngsters in adult bodies who had not been properly taught how to use money effectively as a tool they might consider learning, practicing and then teaching the following lessons to make money online.

1) Practice saving 10% of their allowance or gift money

2) Use their 10% savings and go into business selling items online by creating splash pages promoting only those things people want to buy

3) Join free traffic exchanges to promote their products

4) Organize friends and teach them to practice these lessons

The main benefit youngsters will gain from following this list of lessons is they will obtain understanding about how money and they will have a skill. Learning how to appreciate the value of money as a tool and resource will be useful to get what they want no matter what's going on in the economy.

© Al White, All rights reserved.
Al White is a member of a private money making society committed to its members success: www.bizzymakingmoney.com.
Submitted on Feb 3, 2009