There are a lot of shows about wealthy teens on the airwaves these days, which I find kind of ironic given that the economy is in worse and worse…

There are a lot of shows about wealthy teens on the airwaves these days, which I find kind of ironic given that the economy is in worse and worse shape. The proliferation of coverage about the stock exchange and the popularity of shows about the decadence of wealthy teens has me thinking, yet again, about the issue of finances.   When teens (like myself) have money in their possession, oftentimes what results is difficulty resisting urges to splurge on something that seems more and more like a need than a want.  It’s hard to resist buying “that awesome outfit” or the newest iPod nano. For some teens, these habits of splurging will continue until their adult lives and what then could result? Adults who continue to spend unwisely on things and become so deep in debt that they are driven to financial crisis.   Not everyone is the heir/heiress to a multi-billion dollar fortune. We can’t all be Blair Waldorfs with expensive wardrobes.   I believe the best way to combat financial crises from occurring in our later lives is to be taught both by our parents and by schools about managing our money.   I also think that some people are at some deeper level afraid of dealing with money because of the seemingly esoteric terms that accompany management like compounded interest and dividends. By teaching people in general about these issues, we can learn to manage our own money and not be so afraid of management.   – Allyson