62-year-old dad scolds 16-year-old daughter for buying a $60 hoodie with her own money because he's unemployed and getting his PhD: 'Seriously, in our financial state?'

It's her money, she should be able to do what she wants with it.

Teenagers are not known for making the best financial decisions. Famously, when I was 17, I commissioned a wig maker to create a wig that resembled the hairdo of the most famous real estate agent in my hometown. I don't remember how much it cost, but it was definitely around $200. I knew that if I asked my mom to buy such an item for me, she would never have agreed. But since I had money from working at a restaurant that summer, I was more than willing to blow a chunk of change on such an extravagant purchase. After all, it was my money, and not my parents. 

I wasn't a teenager supporting my parents financially, so I didn't think twice about spending my money on a frivolous item like a big blonde wig. But many teens don't have the luxury of spending their earnings on whatever they want. They spend their money on their own gas, car insurance, and food, and don't have a lot of it left over for wigs. Some teens have to explicitly ask their parents for permission before they're allowed to buy anything, which might seem a little strict, but could help set their kids up for a more stable financial future. That, or it could make their teenage kids annoyed that they don't have control over the money they earn from their labor.