Parents helping teens with money

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(KTSF)

(KTSF by Hellas Leung)

Daphne Yuen, 16, lives in South San Francisco with her parents.  She is given about $25 as pocket money per week but she seldom uses it because her parents provide her the basic necessities, including food, clothing, or computer, etc.

What does money mean to her?

“Money is earned. So you have to learn how to use it properly,” she said.

Joyce Tso, an accountant and a mother of two daughters, said it is good for  teenagers to feel the “figures” instead of providing them everything.  For example, parents can ask their children to calculate how much they spend each week or each month.  They can also learn how to spend within a budget.

Olivia Chan, one of Tso’s daughters  said she plans to go shopping and eat out with her friends next week.

She will ask herself three questions when she spends her money: “Did I use my money wisely? Do I need it? Why do I need it?”

(Copyright 2011 KTSF. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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