Teaching Teens Financial Responsibility: What Should They Have to Pay For?

The annual cost for the average couple to raise a 14-year-old in 2012 was $17,730, according to the USDA’s Center for Nutrition Policy and Promotion. It cost $18,380 to raise a 17-year old that same year, and in a house with two teenagers and a 12-year-old, the annual cost to raise all three children rose to $33,590. How much of this financial load should teenagers be asked to bear? If you’re raising one or more teens old enough to work or drive, you might be wondering which expenses they should start paying for themselves. Here’s a guide to get you started.

Build on Your Budget

Approach your children’s budget as a reflection of your overall household budget. Financial advisor Elizabeth Warren advocates following a 50/30/20 budgeting policy: Each month, allocate 50 percent of your income to necessary expenses, 30 percent to discretionary spending and 20 percent to savings and debt reduction.

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At-Home Dads: An Argument for Keeping the Mrs Barefoot and Pregnant?

at-home dad

A team of Danish and American researchers has discovered that men whose wives outearn them are more likely to have erectile dysfunction than men in more-traditional dad-as-breadwinner families. This was true even in families where the difference between the two salaries was fairly small, but when the woman earned about $20,000 per year more than the man, the chance that he’d need Viagra or other drugs for ED doubled.

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Want Your Teens to Support You In Your Old Age? Keep ‘Em Happy!

The old expression-money can’t buy happiness—may be true. But so is the reverse—that happiness may be able to bring in money.

A new study has found that the happier and more satisfied we are in our teens and early 20′s, the more money we’ll make years down the road.

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