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Tweens and Teens
Reply to "If you have a high HHI does your teen expect a car? "
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[quote=Anonymous][quote=Anonymous]I’m flabbergasted how many teens assume they’ll get a car that is theirs when the get their licenses. Is this as common as my kids say it is? Private school FWIW. [/quote] Upper income, meaning doe us 589k tax return. Ever since my kids were old enough to communicate, we've required that they save in their savings account 1/3 of every single dollar that comes in. This is Christmas, birthdays, allowance, babysitting, lawnmowing....everything. we match all savings dollar for dollar, so if they get $200 for their birthday and want to put away all of it, instead of $33, I match that as well. My oldest is 14 and this summer will be his 3rd year mowing lawns. He has saved 9k over his lifetime of his own money. I've matched 9k. Probably by 16 he will at least have 25k to spend on his car. So the answer is yes, he expects it, but he also earned much of it on his own.[/quote]
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