How to speak with your kid about economy, we teens should know too

Send a truthful message to your teen about your family's money situation. Talk to your teen about how things are changing in your home because of the recession. Then, talk to him about how things will stay the same. For instance, you may not be able to afford an expensive family vacation, but you will still find time to have fun together as a family.

·        1.Explain to your teen that money needs to be earned. If your teen is interested in earning some money, talk to him about getting a job or finding some babysitting work.

·        2.Include your teens in any decisions you will need to make about money in your home. Make a family saving plan and write out everyone's ideas on how to save money around the house. Decide as a family which ideas you will use.

·        3.Money problems in your home can cause your teen stress, just like you. Monitor your teen's stress levels and continue to talk to him about tough issues. This can help prevent your teen from turning to drugs and alcohol to handle their stress.

·        4.Don't try and say everything you need to in one sitting, spread it out over time. Use teachable moments to talk to your teen about money .