A great way to teach your teens financial responsibility is to set them up with their own personal checking account. By setting up their own checking account you can teach them how to put money back and how to write checks when purchasing items. You can also take some time to sit down with them and teach them how to balance their checkbook and to make sure they are keeping accurate records of the money they use. There are a number of websites you can go to that can help you give you tips on how to teach your child the basics of using a checking account.