All too often parents hear, "I need this!" when they take their teens shopping. As the parent looks at the item, they can clearly see that it is a 'want' not a 'need'. The top excuse teens give that something is a need is "everyone has one but me". You can't really blame your teen for feeling this way, in our media based society it often is the way things are for your teen. We parents are then charged with the responsibility to not fall into the trap of giving into it when we don't have the money to spend on that kind of 'need'.
How do your show your teen the difference? First, be sure you are modeling the behavior you are expecting from your teen. Do you purchase 'wants' and call them 'needs'? If so, you'll need to stop. Then talk to your teen about money and the importance of thriftiness. Explain the difference between a want and a need to your teen. Then offer up solutions to what they feel is a need. You can also allow your teen to use the item as a goal for a future purchase if they choose.
Quick Links: Teach Your Teen to Be Money Smart | Quiz: Is Your Teen Money Smart?
More on Parenting Teens.
