Financial experts advise parents in Midland to consider a plan before buying a cell phone for their teen. This plan should include the child's understanding of the costs involved. The cost of owning a phone is a key factor to discuss with teens.

Parents are encouraged to have open conversations with their children about who will pay for what. Further information on this topic is available from KOSA CBS7, including insights from a financial education expert on the importance of teaching teens the value of money when it comes to cell phone ownership.