Money & Ethics

Asking Teens to Chip In

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By Knight Kiplinger

Kiplinger's Personal Finance
Sunday, June 21, 2009

QIs it fair of my husband and me to insist that our teenage children contribute some of their after-school and summer earnings to our family budget? We're a family of modest means.

AYes. Throughout history, especially in lower-income families, it was expected that the earnings of all family members would be pooled for the family's benefit, even if children were allowed to keep a small part for themselves. The concept that children may use all of their earnings for their personal consumption is a relatively new phenomenon born of affluence -- and it's a privilege not often enjoyed by their moms and dads.

You can help train your children for their future obligations as parents by discussing with them a reasonable division of their earnings among current family needs, their discretionary spending and a savings account for the future.