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Has anyone given their teens a weekly or monthly budget and what are they responsible for buying with this money. How much do you give them? What do they buy and what do you buy?

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Readyorknot

Asked by Readyorknot at 10:19 PM on Dec. 30, 2008 in Teens (13-17)

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Answers (5)
  • I don't give my kids money, I can't afford too! LOL but my oldest daughter works part time and she has to pay half of her car insurance, well, half of what the cost went up to after she turned 16 and got her licenses. It's only $30 a month, but I think it teaches her some responsibilities. She also has a cell phone that she has to pay the bill for and she has to pay for all of her gas for her vehicile. If she has to have a more expensive brand of items than what I normally purchase for her or the kids then she has to pay the difference. She's not so easy to throw her money around now that she has to work for it.

    TammyG.

    Answer by TammyG. at 10:43 PM on Dec. 30, 2008

  • I can't afford to "pay" my teens, either.
    They know that if they NEED something we will buy it as soon as we can.
    If they WANT something then they have to EARN it by maintaining the best grades they are capable of, keeping up with their chores, and keeping their attitudes in check. Then they will get the item either when we can afford it or on their birthday or Christmas.
    When they turn 16 they are expected to get a job of some sort - only on weekends and during the summers as either a volunteer or a paying job. They also have to do their best in school and follow house rules.
    PrydferthMenyw

    Answer by PrydferthMenyw at 7:19 AM on Dec. 31, 2008

  • I would think that if you want to teach your child about managing money, you should probably start with how to make it. If you just fork it over, they'll never learn what its actually worth.

    But in my opinion, depending on how much budgeting/paying bill/ running a household/ sense you want your child to have I would say have them pay a percentage of all the bills. let him know what your responsibility's are that way they will know whats really expected of them as they grow older. I think in this scenario sugar coating just sets a child up for failure.

    If you dont want to share all the bills, at least outline with him what your paying, and let him know that you are paying his part in this particular bill because you are his mother and its your responsibility to take care of him (good chance for a teen pregnancy talk too)
    Christina2135

    Answer by Christina2135 at 9:18 AM on Dec. 31, 2008

  • No. My teen earns his money by working, doing chores, babysitting, etc. We buy him whatever he needs: clothes, food, medicine. If he's interested in more than those basics (phone, Ipod, etc.), he pays for them himself. He is extremely financially savvy because he works for his money. I think that's the best way to learn the value of a dollar.
    Anonymous

    Answer by Anonymous at 9:21 AM on Dec. 31, 2008

  • My son earns his allowance by doing chores. He is allowed to spend it or save it how he chooses.
    MamaJen74

    Answer by MamaJen74 at 10:44 AM on Dec. 31, 2008

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