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Kid's saving

My 17 y/o son will be getting his 1st job this summer (I hope). He does not have his license or a vehicle so we will be bringing him to and from work. I think he should pay for this gas and his dad says no way it's his money. What do you think? Him getting his license is not an option and there is not likely to be anyone else from our area working there or near by. Also I want to take half his pay and put in a savings account for him, but I am afraid dh will say no about that to. Any good arguments beside the obvious?

 
mrssullivan

Asked by mrssullivan at 5:04 AM on Apr. 10, 2009 in Money & Work

Level 5 (98 Credits)
This question is closed.
Answers (8)
  • Your should sit down and figure out the mileage of what it takes to drive him and back to work.ou should also encourage him to save for his car.Go with him to open up a savings and checking acount half of his paycheck will go to savings and the other half to his checking account.He should have to pay for all of your gas,My parents put a down payment on my first car but I paid the payments and I also worked on the weekends but they paid for the insurace.
    monica-alvarez

    Answer by monica-alvarez at 11:22 AM on Apr. 10, 2009

  • I agree that he should do both. My dad paid for two tanks of gas per month so I could drive to school, but I had to pay for anything beyond...and I had my license. He bought me an old junk car, but I had to pay him back for it before I could take it for college. He was not as rigid about me saving any of my money, but I think it would have been a good lesson.
    kabbot01

    Answer by kabbot01 at 9:33 AM on Apr. 10, 2009

  • Well, when I was 17 and got my first job, my mother didn't tell me what to do with my money except to help me open a checking and savings accounts, and to SUGGEST that I save some of my paychecks. So, I would maybe suggest he save some of his money, but leave it up to him. He'll learn better to manage his money when he blows thru a paycheck and has to wait for the next one to purchase something he really needs or wants, than if his mom is taking his money and putting it in savings for him.

    As for paying for the gas, absolutely he should do it. If he could get his license and drive, he'd pay for the gas, right? So why should this be any different? Part of the idea of getting a job is that you learn responsibility for getting there, getting there on time, and managing your money. He needs to pay the gas, tell you when he needs to leave to get to work on time, and manage his check to pay for gas and what he wants. Good luck!
    tropicalmama

    Answer by tropicalmama at 9:38 AM on Apr. 10, 2009

  • Tough situation. Maybe you could help him open a checking account and tell him things he is responsible for. I wouldn't nickle dime him on the gas and figure out miles but maybe have him pay for 1 tank/month or a set amount like a bill for gas. Also you could tell him he is responsible for buying his clothes now and leave it at that. He will probably blow most of the rest on eating out and on junk but that is part of being young. You could encourage him to put away 10 or 15% for savings. In my mind that is a realistic number of what you would want him to be trained to do as an adult.
    ria7

    Answer by ria7 at 10:08 AM on Apr. 10, 2009

  • Why is getting his driver's license NOT an option? If he is old enough and capable enough to work, he should be able to get his license too?

    I got my license at age 16, my mother bought me a "trusty dusty" car for about $1000, and because I was working (as a lifeguard), I was responsible for getting to and from work which involved basic maintenance (oil changes and tune-ups), insurance (then about $800/year), and gas for MY car, plus cute accessories--like cow pattern seat covers, fuzzy dice etc! LOL

    Learning how to be responsible, accountable and budget conscience at a young age is unfortunately going the way of the dinosaur.
    LoriKeet

    Answer by LoriKeet at 11:42 AM on Apr. 10, 2009

  • If you won't allow him to earn the money for a car you shouldn't expect for him to pay the gas in yours and take 50% of his income. Thats really not fair and you're just going to teach him its not worth his trouble to go to work for pennies. You don't want him hating his job and feeling like he's missing out on his time with friends for nothing. Most kids this age make about $7 a hour. Once you take half of that away and take out gas and taxes the kids lucky to make $2 an hour. Realistically! Consider that. You want him to enter adulthood wanting to work and having fun doing it. GL!
    Anonymous

    Answer by Anonymous at 8:50 PM on Apr. 10, 2009

  • A: getting his license is not an option because he has not had driver's ed and we can't afford the cheapest place $400.
    B: He can do whatever he wants with the money he earns, he just really has no interest in getting a car.
    C: He has never been into "hanging out" with friends. He goes to school and comes home. He has used only 15 minutes on his cell phone since he got in in October (7 months) and I am pretty sure half that was calls home.
    mrssullivan

    Answer by mrssullivan at 10:10 PM on Apr. 10, 2009

  • Oh and D: I did not plan on "taking" 50 % of his income for myself. I was going to open a savings account for him so he could pay cash for a car when he decides he wants one or a dp on a house when he gets married.
    mrssullivan

    Answer by mrssullivan at 10:11 PM on Apr. 10, 2009