Ever feel like you are becoming a mobile cash machine for your teenage children? Here are some tips for helping them manage their own money (and leave yours alone!), by creating a spending plan. The simplest way to do this is to establish a system following these four rules:
No matter what age they are now, your children can learn to master the cycle of living financially well - where work creates income to spend, spending behaviours are guided by values, and goals help prioritise those values. With your guidance, support and encouragement, your children will be ready for financial independence and the freedom it will bring to all of you!