One Street: teenage finance
Post categories: One Street One Goal, money
| 11:46 UK time, Monday, 14 June 2010
For many of us, juggling the cash to pay the bills is a constant challenge. And if there are children or teenagers living in your house, you may be tired of reminding them that money doesn't grow on trees! But soon, the young people of Heol y Cyw will have to make financial decisions of their own.
Teenagers from Heol y Cyw are put to the test on household finances
Debt diva Melanie Giles believes it's never too early to teach young people about money. With the average household debt running at about £9,000, excluding mortgages, she wants to try and make sure that young people don't make the same mistakes as their parents. Rhodri and debt diva Melanie tested two sporting teams of teenagers on money matters to find out how much they really know about the cost of living.
If you want to give your offspring a head start in understanding the real costs of living, why not download our household budget planner (pdf version or Excel version) and talk through where your money goes each month?
And we want to know how you teach your children the value of money. Do they have to work their pocket money or do you think they'll learn as soon as they earn? Let us know by posting your comments below.
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Comment number 1.
At 13:16 15th Jun 2010, Teychin wrote:First of all this is a great article. Lots of children these days hasnt been educate well about money. I have learnt myself the hard way (should have listen to my parents) and now I am teaching my little sisters about money, credits etc. For every dollar they made I collect 10% and save put away that 10% in another account. Hopefully when they grow up and did not take my advice on money saving etc at least I will surprise them with that 10% in the next 20 years.
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