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Fostering responsible decision making in your teen

Question

Dear Mr. John. My almost fourteen years old is a very musical talented boy. He can play piano and guitar by ear. However, he barely play the instruments, or practice enough to learn a complete song. It seems like when the song gets difficult he doesn't want to learn it anymore. This year he has a bank account from his allowance and money from grandparents presents. He would like to spend it in an electric guitar. My husband and I think he doesn't need it, we have a very good electro-acustic guitar with an amp. We told him he needs to practice more with the one we have, maybe in a future if he is really into it, then he can buy it. Right now he might be waisting his money. His friends from school have electric guitars and I think it is making him want it more. He is very upset and argumentative about it because he says it is his money.
I would like to know your opinion and advice. Are we, the parents, doing the right thing? Should we let him do it ? How do we explain him about spending his money wisely without controlling?

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