Parents often feel that teenagers don't listen to them, but the opposite is true when it comes to advice about money. In fact, teens are often open to their parents' guidance on financial matters.

In recent years, teenagers have earned billions of dollars from part-time and summer jobs. While some spend most of their earnings, others choose to save for major purchases or college.

Today's kids are becoming more aware of their family's income and financial situation. They tend to apply these financial habits as they gain independence. This is why it's so important for parents to start "training" their teens to use money wisely.

Here are some ways parents can teach their teens to save their hard-earned money:

1. Lead by Example
   Your children observe how you handle money through your lifestyle. If they see you budgeting and allocating money for specific needs, they'll be more likely to adopt similar habits when they start earning.
2. Help Them Open a Bank Account
   Setting up a bank account in their name gives your teen a sense of financial responsibility. Sit down with them to explain how to manage their account and the benefits of saving. Whether they save for college or a big purchase like a car, seeing their savings grow provides a sense of accomplishment. Many banks also offer special perks for teens who open accounts at a young age.
3. Create a 'Spending Plan'
   The word "budget" might make teens cringe, but working together to create a "spending plan" can make saving more exciting. Have them list their earnings and expenses, and discuss the difference between needs and wants. This will help them think critically about how to spend their money wisely.
4. Simulate an Investment in the Stock Market
   Introduce your teens to the world of investing by showing them the business section of the newspaper. Let them make a "mock" investment in companies that produce products they like. Track the stocks together, which can help them see investing as a potential option for their money in the future.