The concept of money management has become a popular skill that every individual aspires to perfect to cope with tough financial times. Teenagers are not left out when we talk about money management since this skill is better learnt at this early stage of life.

Although money is a vital tool in human life, it can be very dangerous, especially to the teens, if not used properly. Teenagers are very adventurous, and with money which they do not know how to handle, can ruin their lives. They therefore need proper skills, since just like the adults; they need to have the money. The following practices will help the teenagers in managing their money:

• Make a budget, stick to it and avoid impulse spending.
• Keep a good track of all your purchases, with dates, amount spent and items bought.
• Avoid using credit cards as much as you can
• Use ATMs and other cash machines carefully.

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