Saving It
How to Stop Teenagers Spending your Pension
Teenagers love to spend your hard-earned cash and sometimes, it can feel as if they believe you have an endless supply of the stuff. If they had their way, you'd be bankrupt by the time you retire, so it's time to take action. Check out the tips below to ensure you protect your nest egg before they fly the nest.
What they say: "I can't live on the allowance you give me."
What to do: Have your problem-spender itemise where their money goes for a week. This will highlight any financial black holes and allow you to make an honest appraisal of the situation. Point out where your own money goes and make it clear you're already forking out as much of the household budget as you can spare to keep your little darling in trainers.
What they say: "I've got to buy this because everyone else has got it."
What to do: Since when has being the same as everyone else been cool? Give your offspring a cooling-off period of two weeks to a month (depending on the price of the object) and say if they still want it so desperately by then, you'll help them to save up towards it.
What they say: "Money's worth less now than it was when you were growing up."
What to do: Now they're just trying to make you feel old. There's nothing else for this one but a clip round the ear.
What to do: Have your problem-spender itemise where their money goes for a week. This will highlight any financial black holes and allow you to make an honest appraisal of the situation. Point out where your own money goes and make it clear you're already forking out as much of the household budget as you can spare to keep your little darling in trainers.
What they say: "I've got to buy this because everyone else has got it."
What to do: Since when has being the same as everyone else been cool? Give your offspring a cooling-off period of two weeks to a month (depending on the price of the object) and say if they still want it so desperately by then, you'll help them to save up towards it.
What they say: "Money's worth less now than it was when you were growing up."
What to do: Now they're just trying to make you feel old. There's nothing else for this one but a clip round the ear.
