HOUSTON, TX - For teens looking to make a quick buck, summer can be the perfect time to let them jump into the American workplace. But that cold hard cash could be burning a hole in their pocket, and parents can help them make the right choices.
A typical teen might be tempted to blow it all on electronic games or clothing, but teens should think of investing as well--opening savings accounts and starting an emergency fund.
Just allocating the savings is often a challenge. With so many different demands on their money - whether it is spending on themselves, helping out their families, or saving for future needs like college and even retirement - how are teens, so inexperienced about budgeting, supposed to wrap their heads around it all? Our FOX 26 expert has the answers in our attached video.