As your child matures and prepares to face the world as an adult, it's essential to support the development of strong financial responsibility. The tools and techniques discussed below will help you guide your teen to a better understanding of how to manage their money.

"Free money"–like an allowance received from family, with no strings attached–can feel like just that: free. While some pocket money may be necessary for transport and food in school, receiving excess amounts (such as for spend on shopping and entertainment) may ultimately cloud your teen's perception of money's worth. To help your child understand the hard work behind each dollar, you may want to encourage them to take on a part-time job.

As of 2017, only 14% of teens between 15–19 years old were engaged in the labour force. However, those in this age