I am the proud mom of a 14-year old boy who, as many kids his age, do not really "feel" (for lack of a better word) the need of saving. It goes in one ear and comes out in other when I explain to him what it takes to have money to buy what we both need/want. He seems to understand, but his plans are to "use" (translated "waste") his money in electronics or vanal things. He is not a compulser buyer either and I know...this is somehow a normal behaviour in a teenager, but I think times now are more difficult than ever and one of my responsibilities is to teach him the correct use of money.
A while ago I bought an accounting program (very basic) but useful. Back then I was able to get a teenager version with mine. I never installed it in his computer, but I am thinking that I should now. And...I would like him to take care of our budget!...is that too crazy? I know that this implies "revealing" how much money I make, and I've read that it's not good to tell our children that, but I do believe that if he is in charge of making the numbers work, then he, himself will know that we do or do not have enough to buy a certain product.
What do you think? Would that make him sad to know in advance that he wouldn't be buying something expensive he likes? or would it make him more responsible and would teach him how to manage money and later on would make him be more prepared to manage his own? Thoughts?
Thanks in advance for your input.