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More and more families are experiencing financial worries and are trying to cope with the stress of money related issues and how to talk to the children about them. When you have financial problems it's natural to feel your life is spiraling out of control. Money worries are one of the biggest causes of stress, potentially having a negative effect on you and your children. When dealing with financial worries it is helpful to think about how you are going to manage your budget, help your children to understand the need to be more prudent with money and manage the impact of financial stress on the family. It is better if children are shielded from parental confrontation about money and not involved in discussions about money worries, as this can cause children to become anxious or stressed. Try to avoid raising your children's expectations about such things as treats and holidays by explaining that there is less money for material things and teaching them about budgeting.

Budgeting is the art of keeping your spending under control, which is perhaps not as simple as it sounds. It is a very useful skill to teach children and will help to make their life that little bit easier in the future. Giving your teenager an allowance is one way to teach them about budgets. Most children receive an allowance of some sort, whether it is based on age, grades received in school or chores performed around the house. If your teenager already receives an allowance or if you are about to set up an allowance system, its important to allow young people to be responsible for managing their own money and to resist subsidising them with additional funds. If an allowance is based on doing certain chores your teenager will work better if they have a specific list of chores to do and a specific time frame in which they need to complete them. Teenagers have a tendency to like expensive things, whether it's a new laptop, gaming system, mobile phone, ipod, or clothes or shoes, the price tags stack up fast. Try to encourage your teenager to save for expensive treats and contribute towards purchasing their desired items. At special occasions, such as birthdays and Christmas, you can help your teenager to learn about the value of money by giving them an allocated amount of money and allowing them to prioritise the items they want within a set budget.

Once your teenager has reached sixteen you can also encourage them to get a part-time job and earn some money towards their expenditures. Whether it's completing chores, managing an allowance or finding a part-time job it's important to praise your teenager when they act responsibly and guide them when they are not.

If you are a parent who is feeling overwhelmed or stressed about your financial situation, or have concerns about your child it can help to use outside support to discuss options or help cope emotionally. If you would like to discuss a concern that you may have contact Parents Helpline Freephone on 0808 8010 722 or e-mail info@parentshelpline.org.uk

For further information on the range of services which Parents Advice Centre offers, including parenting courses log onto: www.parentsadvicecentre.org