Rural Leader Magazine September/October 2015 - Page 54

download at will, consider setting up online accounts to require a password for purchases and set a monthly spending limit. When he asks you to make a digital purchase, discuss the cost and how what he’s asking for will fit into the budget.   High school lessons By high school, your teenager will be much more independent and will have had a lot more experience with money. If he is managing a larger allowance or even an income from a part-time job, it may be time to open a checking account. Checking accounts come with a lot of responsibility, but walking him through the process of setting one up and establishing best practices for banking and managing money responsibly will set the foundation for sound money habits far into the future.   As your teen gets older, she may start to have bigger ideas about things she wants to do or purchase - such as planning a spring break trip or graduation party or buying a car. Take the opportunity to talk about