Grandchildren and their money

I agree with all the posters 1st salary package and you want to get in a financial advisor - give the boy a break!

My DGd is also 16, at college with a bursary and parental support but has chosen to work 1 to 3 shifts a week in a care home. A few weeks ago, she discussed finances with me ( with parental approval) and we opened a junior isa using a chunk of the savings we've built up over the years. She can't access this until she's 18 and she has earmarked that for her first car.
She has added several hundred pounds to her 'small' account - saving for driving lessons.
She still has cash for travel, books and lunches but enjoyed splurging some on shoes and clothes for winter.
She also insisted that she would buy some Christmas presents independently and presented me with a cosy cowl-neck sweater.
Have faith in him - he is clearly well motivated - and let him settle into handling his cash. It's part of his learning curve. Good luck to him as he embarks on his career ( DGD is focussed on being a midwife). Any chance we could introduce them???

Brilliant that your GS has secured such a marvellous apprenticeship, do hope he enjoys it.
I am with the other posters here, he already has his board and lodging taken out so what he has left is disposable income to him. His first (presumably) pay packet, who wouldn't splurge. Give him a break maybe, there's plenty of time to act responsibly. At his age I'd imagine the RAF are big on pastoral care and will be handing out advice by the bucket load. Before much longer he will probably want to save for driving lessons, a car, insurance, the list goes on. What a start he has.

Time to let him grow up and make his own( quite mild) mistakes. He only spent £100 of what he had. He could have blown the lot!

It's a learning curve and he's very young. He'll settle down soon enough. My son was also earning a decent salary when he joined the RAF (many moons ago now!) - he'd never had so much money - and it will go to his head a bit to start with, but the odds are against him blowing the whole lot month after month. Alarm bells will soon start ringing somewhere up the line if he is seen to get himself into a shed load of debt.

Yes I agree, well done on his apprenticeship. tanith has it exactly right, although young he has responsibility with the RAF and needs to make his own mistakes now as well as having some fun. I agree there is no need to help him out financially if he does have problems, explain that to him when he goes back to Base.
Good luck to him.

Goodness, his parents are going to find 'qualified advisers' to help him use his money sensibly...

He's young, he's got no responsibilities, he'll learn, just let him have a bit of freedom or neither his parents nor you will see him for dust!

He earns it, he can spend it as he likes.
When he runs out of money before the next pay day or needs some for something he "really needs" he will realise how things work and, as long as no one lends him any or pays out for him, he will soon learn to manage his funds. Do not bail him out if he gets in debt either. Tough but he will get the message.
Good luck to him, hope he gets on ok.

Give the boy a break! And well done him on his apprenticeship.

A 16-year old who is earning his own money does not need a 'qualified financial adviser'.

Legally and morally he is completely free to spend his own wages as he sees fit.

In their first few weeks at university my DSs spent most of their loans - they soon learned!

I'm sorry but its his money and he earned it so if he doesn't want to take their advice then he's entitled to spend it how he wants even if it seems unwisely. He won't learn to budget with his own money unless he's allowed to make his own mistakes and learn from them which I'm sure the RAF is going to be teaching him too.
I'm pretty certain lots of us didn't take parental advice at his age.