Teenagers need to learn how to take care of their finances while they are young. Otherwise, they are likely to end up ____ and struggle to ____. This is true regardless of whether the child comes from a middle class, poor, or even a ____ family. Unfortunately, a ____ number of teens know very ____ about money management. But although it’s not always easy to manage money, there are ____ simple methods that can be used to teach children about doing it. Most parents believe in the advantages of giving their kids ____ because it teaches children to appreciate money, to learn how to ____, and how to properly manage their money. However, teenagers are better at spending than saving because they don't see ____ need to ____. Of course, a young person doesn’t spend ____ time planning anything long-term, and this is also true for budgeting. But children won’t remain children very long, and the attitude they adopt towards money management may stay with them through their ____ life. That is why it’s best to start young by explaining the importance of Save, Spend, and Give. “If you spend it, it’s gone” is what teenagers should understand. Even millionaires do not have an ____ amount of money! Does the child want a car or a smartphone? Then explain that they will be expected to pay for gasoline or a calling plan from their own ____. If they are too young to work properly, there are ____ odd jobs like walking dogs, gardening and cleaning that they can get ____ for. In addition, adults should set a good financial example by NOT ____ beyond their means, limiting credit card use, and making ____. Many kids will develop their money management skills based on how their parents handle their money, so it isn’t ____ if you have unhealthy ____. We must all make choices about how to spend money. So before we buy something, we should ask ourselves: is it something I need or something I want? Will it cost ____ if I buy it online or in ____ store? Is there something similar but less expensive? – and so on.The biggest lesson that young people need is that their ____ must be less than their earnings. Adults know through experience that you can’t overspend for too long or you will become completely ____. It’s not as easy for kids to learn this information. One method of teaching Spend, Save, and Give is to have the child split his or her ____ into these three categories. That way, the child learns that they should only spend a ____ amount (around 30%) of their earnings in the short-term. Also, parents should talk to their children about the future. It helps children to know that Dad is holding off ____ a new car because he needs something more important for the house, for example. When teenagers learn good money management, their ____ IQ goes up. They develop the habits and understanding that will help them prosper for a lifetime. This is the path towards a healthy and enjoyable future.

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