As a parent, I knew raising young children would come with its financial challenges, but nothing prepared me for the expenses of having a teenager. With three teens just around the corner, the thought alone makes me feel slightly dizzy.
Here’s a reality check for any expectant parents: start saving long before those double lines appear on the pregnancy test. Teenagers are like a financial black hole. They eat substantially more than they did as kids, and their desires have escalated to include smartphones, trendy apparel, and the need for driver’s education. They’ll want their own cars or, at the very least, to borrow yours constantly, which means adding them to your insurance policy. And let’s not forget the ongoing costs of gas, maintenance, and repairs.
Extracurricular events like graduations and proms have become exorbitantly expensive, resembling weddings rather than simple celebrations. Gone are the days of cozy movie nights in the basement with homemade cookies; now, it’s all about outings that cost a fortune, especially if they want to bring friends along. My budget is crying for help, and I’m feeling the pressure just writing about it.
And we haven’t even touched on college expenses yet! Are you feeling anxious? Because I certainly am.
That’s why I firmly believe that my teenagers will have jobs; it’s simply not an option in our household. A recent report from Bloomberg highlights that today’s teens aren’t working as much as their counterparts did in the ’80s and ’90s. Back then, I was always employed. If I wanted to hang out with friends, I needed to earn my own spending money. If I craved something beyond what my parents provided, I had to buy it myself. When it came time for back-to-school shopping, any extras I wanted were funded by my own hard-earned cash.
I paid for my driver’s education, car insurance, and even registered my own vehicle. Sure, my parents helped when they could, but in a household with four socially active teens, we were expected to contribute significantly.
My son, Jake, has moved beyond many of his childhood sports and now finds joy in working. Last summer, he earned nearly a thousand dollars, which he used to buy a new smartphone. During spring break, he worked alongside his father in plumbing and purchased a new bicycle. He’s eager to keep working during the summer to afford luxuries I’m not willing to splurge on, and I’ve made it clear that if he wants a car, he’d better start saving for it because I won’t be footing the bill.
It’s a win-win situation; Jake is doing something he enjoys, like helping on his grandfather’s farm or learning plumbing skills from his dad. He’s not only making money but also gaining valuable life skills, independence, and a strong work ethic in the process.
While I want to ensure my children have what they need, it’s crucial they understand the cost of living. I’m not an ATM; I’m their parent, and I want them to appreciate the value of a dollar. The next time they say, “But Mom, it’s only 50 bucks, just get it for me,” they might think twice after realizing how long it takes to earn that amount.
I want them to experience the fulfillment that comes from a hard day’s work. It’s empowering to know that they earned their money through effort, and it fosters empathy for service workers and a sense of responsibility toward others.
As parents, we can impart many lessons, but we can’t teach everything. That’s why in our home, work is a non-negotiable. Not only will my kids appreciate it later, but they will also be proud of themselves when they can buy those trendy sneakers or their own vehicle, knowing they earned it all on their own.
I’m genuinely proud of Jake for wanting to work this summer, but I would have encouraged him to do so regardless. The same goes for his siblings, as learning to work diligently under someone else’s guidance can be even more valuable than the paycheck they bring home.
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In summary, encouraging my teenagers to work not only helps our family finances but also teaches them essential life skills and the importance of hard work.