Expense Management Tips For Kids & Teens

Life is full of challenges and for teenagers the biggest challenge is to save money and Cut off their expenditures. Because,as they growing up and their ‘Social Circle’ increases, the parties, and hangouts also increase and they worry about their expenditures how to manage this all.
Parents also do not always pay their expenditures because in this modern era, a mediocre family cannot meet to their hands because of Inflation.
Elite class plays an important part in teenagers lives, As they set trends of how to dress up,use of technology such as gaming gadgets and latest smart phones and they arrange such special birthday parties which indirectly influence the mediocre class/Teenagers.And they try to do follow such trends which their increase their expenditures.
(KISI NAY SACHH KAHA HAI K KISI KA CHEHRA AGAR RED HO USAY DEKH KR APNY CHEHRAY KO THAPARON SAY RED MT KREN)
There are some tips to figure out expense management issues through explaining from some real life examples:

1. Be open.

   Danny Kofke says a lot of people get into trouble by being secretive about their money with their children. “Talk to your kids about how much you make and your expenses each month. We say, ‘This is how much we have a month – and we pay for the mortgage, TV, the bills, food – and this is what we have left over at the end,’” he says. That way, he and his wife use their budget to explain why they can’t buy a new toy or electronic gadget.

2. Share real-life examples.

   Even young kids can earn money saving their pocket money for helping neighbors with yard work, as McGuire’s 8-year-old son(chota sa masoom sa bachaa) has done, and practice saving birthday money. Her daughter, who is almost 11, is also starting to earn money baby-sitting. That kind of entrepreneurial practice can help them get comfortable with making and managing their cash.These typed examples are seen commonly in our surroundings.
   (Hum krnay waale banen bas examples bohtt hain)

3. Get them a debit card.

   This tip might be controversial, Kofke acknowledges, but he recommends it because he thinks it’s important for teens to have experience handling both virtual money and cash. A debit card will allow teens to see whether they spend money more easily when it’s virtual, and they can prepare to take extra care when using credit cards as they get older. “[Society is] almost going cashless, so I think it’s OK to start letting them experiment with a piece of plastic, but not a credit card,” he says.

4. Encourage them to make some money.

   Even young kids can earn money saving their pocket money for helping neighbors with yard work, as McGuire’s 8-year-old son(chota sa masoom sa bachaa) has done, and practice saving birthday money. Her daughter, who is almost 11, is also starting to earn money baby-sitting. That kind of entrepreneurial practice can help them get comfortable with making and managing their cash.These typed examples are seen commonly in our surroundings.
   (Hum krnay waale banen bas examples bohtt hain)

In young age, if teens learn to manage their expenses, this habit will stabilize financially them in coming times when life becomes hard.
Abhii sy paisyy manage kren ge baad main tung nahi honge.