As financial times get tougher and tougher and marketing execs get craftier and craftier, parents and teens will no doubt collide over money issues. There are so many new and pricey technologies and brand names saturating the market these days that it is near impossible to escape it. Teens want what they see and what their friends have. In truth, nowadays in the in-betweens and younger that are being sucked in to wanting expensive novelties. But where there is a will, there is a way and families with teens and a budget can safely coexist with a little work.

Raising children is already expensive without the extras. So it pays to reign in unnecessary spending and work with your kids to keep the family budget intact.

Here are some steps to take to teach kids about budgeting while still getting some of what they want.

Teach the Lesson of Money Management

A child is never too young to learn the value of money. If you allow them to beg incessantly and then give in, you are just teaching them to be a whiner. If you instead teach your children that money does not grow on trees and it should be earn, whether through actual employment for older children, or by chores for the younger kids, you will be giving them the valuable lessons they will need throughout their entire lives.

Give an Allowance

Allowances are a great hands-on approach for teaching kids about money management. It will help teach children about making practical choices when spending their own money and not their mom and dads. Allowances should be given to your child for being a part of the family. As a disciplinary measure, you can withhold it, but remember an allowance is separate from their responsibility to do with chores. If you link the two, you child will willingly skip the allowance if he doesn’t have to do the chores. Don’t give them the choice!

Emphasize Free Family Fun

While it may not work as well on teens as younger children, it never hurts to put in some more fun family time. Go for walks, have a game night, get a movie from the library - anything free can be tons of fun, showing kids that it doesn’t have to cost a fortune to have a great time just hanging out. Give your teens some space at home to hang out without spending money. Plus you get to keep your eye on your kids and their pals.

Involve them in the Family Budget

Having a frank discussion with older kids can truly shed some light on things. Many kids just take for granted that since mom and dad always work, there is always tons of money. Educate your kids on what it costs to leave the lights on and how much it costs to heat the house. Not only will they learn to appreciate the value of the money parents are making, it may also encourage them to keep the doors closed and the lights off. There is no need to add worry to your child’s life so try to structure your conversation in a positive way so you can teach them without stressing them out with any financial problems.

Get A Job

If the kids want brand named clothing and top-notch electronics, go with them to the mall and help them fill out job applications. Kids who work hard for their own money may not be so quick to part with it. Teach them how to budget their own cash and insist on a percentage being tucked away into an interest-bearing account or a college fund.