Forcing teens to save

[olderthandirt]

Do you think it's a good idea to force savings on a teenager? My oldest just got a job and I want her to save 25% of her paycheck in a savings account. That still gives her plenty of spending money, since she only has her cell phone bill to deal with. I want her to establish the habit of saving.

 

[BigPapa]

I think that making her save is a good habit to get her into. I haven't waited until my daughter was a teen though. When she gets birthday money or Christmas money she has to put a percentage away in a savings account. I will do the same thing when my son is born. She still has plenty of gift money left to spend on what she wants and if she wants something bigger she can save up for it.

 

[Zimmer]

Saving is a great idea, it forces kids to learn how to deal with money. It also teaches them to delay instant gratification in favor of a bigger reward in the future.

 

[Chrisitan]

We have done the same for years. We make sure our kids save a portion of their money in a savings account BEFORE they spend any of the rest. I can only hope they continue the habit as they get older.

 

[Andersson]

Anytime you force a child (of any age) to do something they are going to rebel or just tune you out. Why not teach them how to save, why they should save and show them the rewards of saving before you try to force them.

 

[John]

I've always been up front with my kids about money. They know their parents and grandparents are forced to save in order to do the things they want to do later. Forced savings include vacations, taxes, contributions, taxes, and taxes. Auto insurance and savings for a car are also "forced." It's a reality of life. They might as well get introduced to it later. My children will not be going to the mail box for their government checks if I have anything to say about it.

 

[Victor]

Anytime you force a child (of any age) to do something they are going to rebel or just tune you out. Why not teach them how to save, why they should save and show them the rewards of saving before you try to force them.

I agree. My parents set up bank accounts for us and showed us why saving is good, but didn't force it. I was pretty good at saving by the time I was working in high school.

 

[On The Mark]

Forcing anything isn't really a good idea. Teaching them is better, and then showing them through your own actions how it all works. It's how I've done things in the past and it's always worked out well.

 

[Timothy]

Anytime you force a child (of any age) to do something they are going to rebel or just tune you out. Why not teach them how to save, why they should save and show them the rewards of saving before you try to force them.

I agree with this. Forcing a child to do something, even if it's a good thing, can just as easily have the opposite effect as the one you intended. No good can come of trying to control someone. Rather, you explain to them how you want them to act and WHY you want them to act that way, then leave it to them to make those decisions on their own.