My oldest, who is a senior in HS, just got hired for his second job, working "regular hours, PT" at the UPS. His first job, working at the McD's, only got him 4 or 6 hours a week, which didn't even cover his gas, much less his part of the car insurance.
So, we sat down and had "the talk". yep- we discussed money: savings, retirement (don't laugh- I wish someone had made me think long term when I was a teen), tithe, fun money, expenses- now and when he starts school in the fall, budgeting.... and "credit" and why he should not apply until he has some savings built up. They cover some of this stuff in school in consumer ed, but not enough to keep you out of trouble.
Anyone else sit down with their teen? How did it go? We are going to need to go over more in the near future, but I definitely gave him some stuff to consider.
Starting Score: 693 TU FICO, 679 EQ FICO 
Starting Score: TU:650 - EQ: 672
I feel like I am constantly having this "talk" with my stepson. He's almost 17, and I'm trying to explain to him the costs of living.
My parents alienated my twin sister and I from the actual costs of living and it was an eye opener for sure when I decided to move out at 18. Sure, I knew I would have to pay rent and utilities, but I never knew the REAL cost of all that.
I think by having these kinds of talks with your children, they (hopefully) gain a respect for the parent as well when they realize how much money goes into the cost of raising them and buying their name brand clothes. I look forward to having this talk with my son (almost 13) in a couple years...it sure beats having to do the "birds and the bees" talk....no boy wants their mom to tell them about girls 
Lol - I had the talk with the kids when they were small. The rule was 1/2 went into savings. Period. My youngest decided to challenge this and say it's not fair.
I said ok, gave him his "paycheck" minus taxes. heheehehe...he was livid! I explained to him that if he wanted to treat his money as a paycheck (for doing chores) and he would refuse to save half, then taxes get taken out. Call if Mommy Government.
I told him he had to file for a tax refund at the end of the year. I tell you, to this day, he remembers that lesson. He never did file for a refund (Uncle Mommy took out about 40% in taxes). He will save, on his own. We have no issues anymore. He's even learned to budget and to plan ahead for expenses.
My dad does taxes on the side and gave me this talk way too late, haha. I was 19 when I destroyed my credit and now, at 28, I have a kid of my own who I am DEFINITELY giving this talk to. He already has a savings account and I told his dad we are NOT telling him how much is in it by the time he's old enough to start saving money. We'll just plan to give him an allowance and he can put half in savings every week.
He's only four months old right now, so we'll see how that actually pans out. 
cassembler - hhmmm....I guess I can spend the money now, huh? It's been 7 yrs, past the SOL. 
I might treat myself to a nice Starbucks coffee...it benefits everyone.
I actually put the money into his savings account, but one he didn't know about. So it's paying for school.
