By the time your teenager is ready to leave home, you’ll want to know that they’re a confident budgeter and good with money. Rather than paying for all their small purchases individually, try providing an allowance for the week or month which they must use to cover their own expenses. There’s no better way for them to get practice at balancing the books than to give them responsibility for their own cell phone top-ups, movies, clothes, café expenses and other optional extras. As soon as they have to go without something because of a previous choice, they will discover a new motivation to keep track of their incomings and outgoings.
Source: Hot Tips, from The Parenting Place