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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A Not-So-Extreme Guide to Saving More

www.amazon.co.ukKasey Knight Trenum, author of Couponing for the Rest of Us.
Topic
: A not-so-extreme guide to saving more.
Issues: Where to find coupons for what your family eats; how to reinvent your shopping strategy, how to make grocery shopping less stressful–and even fun.

Reinventing Your Shopping Strategy + Best American Products for Kids + Narcissism Epidemic

www.amazon.co.ukKasey Knight Trenum, author of Couponing for the Rest of Us.
Topic
: A not-so-extreme guide to saving more.
Issues: Where to find coupons for what your family eats; how to reinvent your shopping strategy, how to make grocery shopping less stressful–and even fun.

www.amazon.co.ukBruce Wolk, author of Made Here, Baby!
Topic:
Finding the best American-made products for kids
Issues: Family businesses, green companies, minority- and women-owned businesses; how small manufacturers get distribution; why buying American products can help assure us of quality and safety.

www.amazon.co.ukJean Twenge, author of The Narcissism Epidemic.
Topic:
Living in the age of entitlement
Issues: The characteristics of narcissism; how narcissistic values such as materialism, vanity, and entitlement have spread to the culture at large; the real costs of narcissism in the workplace, relationships, school, and everywhere else.