As parents, we often feel that we have excellent reasons for keeping control of our youngsters' spending. After all, we say, look at that expensive jacket that was only worn once or twice! If we hand over the reins, they will only make a hash of it. This is a bit like throwing a child who has never seen water into the deep end of a swimming pool and crowing 'There you are. I said she'd never learn to swim!' as she goes under for the fourth time.
Handling money is something you have to learn slowly and carefully, under proper supervision - but that you have to learn to do for yourself. If you keep it a comparative mystery, you can hardly be surprised if the first time a young person has to organize their own money - in their first job or away at college - they get into a dreadful mess. Going straight from pocket money to wage or grant is a recipe for financial disaster. Most parents would like to help their teenagers learn the invaluable skills of money control by giving them a transitional experience between the two. This is best accomplished by agreeing an allowance between you, and initially supervising how they administer it.
You can usually divide the way you and your teenagers use money into three different levels. The bottom level is on trivial treats - sweets and snacks, light reading and toys. The top level is expensive items and absolute necessities - essential clothing, housing, food and transport. The middle level covers all the things you would like to have, and might need, but that can be subject to personal taste and the money available - various items of clothing, entertainment and some eating.
Obviously, pocket money is supposed to cover the least important items, and a wage or salary has to account for the top level. Most of the arguments between parent and child occur over middle level items, and they are the objects that could be bought by an allowance. The amount you give, and the responsibilities that go with it, can vary and increase as your youngster gets older. The principle, however, should apply from the moment pocket money stops and an allowance begins. That is, that financial freedom carries with it financial duties. Having an allowance is a way of learning how to manage money, both now and in the future.
