Good money management by family units helps to avoid several headaches. Yet, there are many challenges that may sometimes make good money management seem impossible.
Many young people like to wear costly designer clothing and spend lots of money on items such as CD players and CDs. However, as a parent, when your money supply is limited and you spend money on expensive designer wear for your child or children, you often have no money left for important household and other personal needs.
Sometimes, you may feel that you have to buy designer clothing for your child. However, if you do, you could find yourself in the same situation as the picture above. This is just one reason for you and your family to be TALKING ABOUT MONEY and SETTING MONEY GOALS.
"PB1646 Talking About Money and Setting Money Goals," The University of Tennessee Agricultural Extension Service, PB1646-5M-2/02 (Rep) E12-5315-00-039-02, http://trace.tennessee.edu/utk_agexfinman/15