My teenage child keeps asking for expensive clothes and shoes - how do I teach him the value of money?

Dr. David Coleman emphasizes that when teenagers ask for costly items like designer trainers or trendy clothes, it serves as a vital opportunity for parents. Rather than simply denying requests, parents can use these moments to educate their children about financial literacy, including saving money and making informed purchasing decisions. This approach fosters a deeper understanding of value and responsibility in financial matters, while teaching children the importance of balancing desires with practical money skills.

Dr David Coleman suggests that when teenagers ask for expensive items, it's a crucial opportunity for parents to educate them about money management, saving, and making informed choices.

The common plea from teens, "Everyone at school has them," can act as a valuable teaching moment for parents to instill lessons on financial decisions.

Read at Independent