What happens when a teenager takes responsibility for the family finances for a month?
Money issues are at the root of many family conflicts. From parents feeling their teenager’s spending habits are excessive, to teens wanting more money for what they consider to be life’s necessities.
A typical 16-year-old spends more than $350 every month, they are super-consumers splashing their cash on snacks, clothes, games and socialising with friends. Should the parents pay up or should they set limits and encourage accountability? Would you dare to let your teenager take over the family finances? In Teenage Boss, we do. Under the guidance of a financial expert mentor, we let the teenager assume responsibility for the whole family budget over the course of a month. The ultimate goal is to teach the teen (and their family) how to spend the money at hand in a sensible, balanced way.