One thing you must always know about teenagers is that they are spontaneous and can decide to literally anything so long as they think it and feel like doing it. This is usually a very dangerous way of thinking as it is also the time when the parents expect their teens to move out of their homes and move into their own homes and start planning for their future and manage their own finances and loans.
But this may look like a very dim future, especially if you have a teenager who doesn’t know how to handle money maturely. If you have a teenager who looks like an impulse buyer; can walk out of the house and the moment he/she sees something good that catches his/her attention, he/she will want to buy it, then your child isn’t ready to handle money on his/her own.
Some adults when applying for loans from creditors like www.lendgreen.com tend to show some signs of immaturity when handling finances.
Greater financial responsibilities like credit cards and checking accounts are but a few of the things which your teens need to know about and manage responsibly if they are to have any chance of a good life without any financial stresses in the future. As a parent, you need to understand that kids and renatures mature differently and at different rates. And the same will apply for money maturity as well.
These signs are meant to help you realize if your teenage child is or isn’t ready yet for money responsibilities. But this can also mean that you only need to work harder to try and teach them about the importance of being responsible especially when it comes to money and other financial situations. That being said, let’s dive in.
1. Carelessness with personal items
General irresponsibility in teens can also translate into financial irresponsibility as well. The moment you notice that your teens are always losing or misplacing their important items, you need to start thinking hard about how it can affect their future financial lives as well. If your teenager is fond of constantly losing things and items like a car or home keys, wallets, or even phones all the time, then you can safely come to the conclusion that they aren’t ready for any kind of monetary or financial responsibility.
2. Poor work ethic
Research would prove to you that your teenage kids who don’t yet have a job, are in the process of pursuing jobs, or only work around the house, maybe even at a rental place, may not all appreciate and respect money as much as they should. The teens who aren’t interested in making money and also don’t know what it takes for them to earn the money won’t really know how to handle and manage the money as well. You can simply gauge your teen’s work ethic by studying how well he/she handles his/her homework, sports practices or grades.
3. A taste for instant gratification
Another trait most commonly known amongst teens is that most of them tend to spend whatever money they receive the moment they get a hold of it; be it from their jobs or allowances. The moment you realize that your teenage child isn’t mature enough to learn to save at least some of the money he/she gets from his/her job or allowance, you can also safely assume that he/she isn’t ready for a credit card or bank account.
4. Can’t or won’t do the calculations
The moment you realize that your teenage child doesn’t have the basic math skills or even the patience to want to learn to balance checkbooks, you should start thinking and assuming deep down that he/she isn’t ready to handle any of the financial matters and responsibilities.
Equiping your child at an early age with the correct skills when dealing with loans will help them in handling their credits.