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Tweens and Teens
Reply to "S/O What should your teen be financially responsible for?"
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[quote=Anonymous]Until my kids got jobs, I gave them allowance. I expected them to use their allowance for gifts for family birthday and Christmas, whatever they wanted to buy (think Legos, jewelry, toys, make up beyond the basics that I buy, etc), and food that I don't normally buy (like gum, candy, snacks they want if I have packed snacks for our outings). My kids started working at 16. After that, they had to pay for their own outings (I still pay for family outings) and expenses related to working (uniforms and training), gas for the car, car insurance (though I have gifted car insurance to them for birthdays and graduations). Once work became full time, they had to start paying for most everything. I am laughing about the PP who won't let her kids get a car until age 21. That was the first thing mine saved for and bought. My oldest had one at age 17, which he paid for on his own, including what it took to make it run. I think the real issue here is when do you intend to teach your kids money management. We've discussed it all along, but until they started working, didn't go full force with it. So until they got jobs, the consequences of not spending wisely and saving was that they night not be able to get that Lego set or must have lipstick. But, if you have kids who are ready earlier and you go with big allowances, you can start the money management process earlier. [/quote]
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