How can you teach your teen to evaluate alternatives and make decisions within realistic financial constraints? Here is a story from Financially Independent Teens:
It was time to plan the summer vacation at Jane’s house. It was a family tradition to do it together. The family typically took a one-week summer vacation as well as went with a large group to the local mountains on weekends twice a year. Jane and her sister really wanted to go to Disney World. The family talked about the cost of traveling 1,000 miles and the admission costs for Disney World compared to the typical summer vacation at a beach 50 miles away or another trip nearby. After looking at the cost, everyone realized a Disney World vacation was almost twice as expensive. The parents said if the kids really wanted Disney World, they would do it, but it would mean giving up the two weekend trips entirely. Both kids quickly decided they would find another summer vacation because they did not want to miss out on seeing their friends on the weekend trips.
Financially Independent Teens includes many stories as the book covers the basics of what every young person should learn about money, budgeting, credit, investing, their first job, entrepreneurship, and how to plan for a successful financial life after graduation.
Check out our Financial Independence Series sold on Amazon. The series includes Financial Essentials, Raising Financially Independent Children, Financially Independent Teens and Financial Essentials for Couples. Also visit our website https://parentsfin.wixsite.com/website/books or on Amazon
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