Believe it or not, the best way to help young teens be responsible with money is to give them more - in the form of an allowance.
- First figure out what you are already paying for (that you feel is a valid expense). Include lunch money ($4 per day?); personal spending ($5 per week); some parents include a clothing allowance for the year broken down into weekly increments... work this out together with your teen but be realistic about your family budget too.
- Next set up the same boundaries you have for paydays. Pay the allowance on a regular day and time. No advances allowed and you are not a credit lending institution.
- Love and Logic recommends NOT tying allowance to chores. Chores are what everybody in the family contributes to the family. (However, if a teen does not do their chores and you need to pay someone else to do them, that can be deducted from their allowance without warning them in advance.)