Money Management For The Next Generation

FOR THE NEXT GENERATION @ (NAPSA)—Helping teens manage their finances doesn’t have to be as big a challenge as many parents fear, if they heed a few facts andtips. Most teens are tempted to spend money earned from a parttime job immediately rather than putting it in a college fund or saving it to buy holiday gifts. The Americans for Financial Security (AFS), a national association dedi- cated to helping the nation’s entrepreneurs succeed in their professional and personal lives, offers these tips for teaching money management to teenagers: Require teens to earn spending money by doing chores at home. Encourage older teens to get a part-timejob. Help teens keep an expense log and create a budget. Insist that a portion of their money be placed in a savings account. e Assist teens in developing goals for their savings. Map out short-term goals, such as saving for a new computer, as well as long-term goals, including saving for college anda car. Set reasonable spending limits before family shoppingtrips. The AFS offers its members a comprehensive package of benefits to help them aspire, focus and succeed including free access to personal financial advisors and a scholarship program for their college-bound students. For more information, call 1-800-4921016 or visit the Web site at www.afswebsite.org.