Is gettting that summer job a good idea for your teen? If they learn to save, invest, and budget, yes, but as a way to feed the buying frenzy of new clothes, concert tickets, and fast food maybe not.
Michelle Singletary's WashingtonPost column, The Color of Money, recommends this book:
"I like Bodnar's advice so much that for this month's Color of Money Book Club, I'm recommending "Raising Money Smart Kids: What They Need to Know About Money and How to Tell Them" (Kaplan Publishing, $17.95). Bodnar is a columnist and deputy editor at Kiplinger's Personal Finance magazine."
Bodnar's mother's approach to whether her teenager should get a summer job was, that soon enough her daughter would have to start work -- and once she did, she would be working all her life. Bodnar also suggested that if you want to teach your teen work skills without making them get a job, to try volunteering.
She also believes it isn't bad that a teen get a job but that the amount of hours they work should be monitored as well as how they are spending their money. In the distant past children worked to help support the household and that might not be a bad idea today.
To read the whole WashingtonPost article click here.
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