It's a talk parents need to have with their teens. It can shape their financial future.
Linda Tucker with Consumer Credit Counseling Service says children who receive information on money management at home are more financially literate than those who only get instruction at school.
Teens face a lot of pressure. Peer pressure, the pressure to look good, buy the latest item and they can also be under pressure from advertisers and marketing ideas.
Tucker says parents need to teach their teens about wants versus needs.
Also, she says if they get a job it will help them prepare for life, develop good work habits and teach them financial responsiblity because they can't have everything just by asking their parents.
THV's Liz Massey will have more on this on Today's THV at 6:30.