If your parents are giving you an allowance, there are probably strings attached- whether you can see them or not. In some families, an allowance must be earned the same as any other wage. Teens do this by doing their chores regularly, following the rules of the house, or perhaps doing extra tasks that their parents assign.

For those who don't have any specific tasks connected to their allowances, there's another string attached- EDUCATION.  Your parents are giving you the money with the expectation that you will learn to use it wisely.  Learning to save and spend intelligently is a skill that takes practice- and what better time to practice than right now while you don't have a house to lose or a family to support?

If you are blowing your allowance every week on CDs or pizzas, you might be missing the point.  Not everyone is given an allowance; if you are lucky enough to be receiving one then it's your responsibility to make the most out of it that you can. Think about the future for a moment. Are there expensive things that you will need to pay for? A car?  College?  Clothing? Trips? These things might seem way to expensive for you to even think about ("No way is my $20 allowance going to buy me a car!") but a little saved now can go a long way later. Instead of spending your $20 all at once, spend $18 of it and tuck the other $2 away.         
 
You may not realize it, but your allowance is a great way to win your parents trust.  If they see you making smart choices with your money, learning from mistakes (cause we all are going to make mistakes once in awhile!) and taking the responsibility of money seriously, it will build their confidence in you.  Remember, too, that for most people there will come a time when their parents aren't going to be giving them an allowance anymore- are you prepared for that time? An allowance is an opportunity is so many ways- don't' waste it by taking the money for granted.