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Raising Teens on a Tight Budget
Lets face it the things required these days to raise a child are
expensive. Things can cost a lot of money school fees, fashionable
clothes, sports activities to name just some as a scratch on the surface.
The way to control some or all of these costs is to train and teach your
son/daughter to see things from your point of view and help them understand.
Teach them about budgeting and having a strategy that separates needs from
desires. Teach them early! For example, your response to their begging and
pleading will form a behaviour in them [if you have made mistakes in this
areas you can change start now]. Teach them that good times dont have to
cost much picnics, hikes, long talks. Emphasise that experiences are often
better than things, make Christmas and birthday gifts meaningful rather
than expensive.
Teach them the value of things by giving them an allowance and avoid
becoming a bank for them. Our sons demands for high fashion brand names
changed dramatically upon receipt of a regular clothing allowance. He very
soon felt the choice between designer and regular one shirt or several.
Surprisingly he chose several an option that wasnt previously available
when we went shopping with my money.
It is good to sit down with them and explain your family budget [we did
this one time as youth leaders with our youth group -it was enlightening to
see just how much they didnt know about this topic]. Show them the size of
your rent/house payments, the telephone account and the amount you have to
spend on water and utilities to light and heat your home [at least it will
give context to you telling them to turn the lights off when they leave a
room]. Show them your income and how little you have left every week/month.
Their allowance then becomes their mini salary and you can talk to them
about savings, tithe, fuel costs [if they drive], eating out etc. help
them to develop budgeting skills early in their life. You can also tell
them that a credit card is wrongly named as it is a debt card.
In their budgeting skills start now, help them by setting general
guidelines for their spending. Avoid being too specific as we all know we
need to be flexible to allow for unexpected costs or opportunities to enjoy
ourselves. Avoid having their money and our money rather let them
experience the consequences of over spending and under saving.
Be a good example
Be open and honest
Begin early
It can be done.
Nigel Lane
Father, Youthworker, Coach
http://www.TeenCoach.org
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