What To Do When a Teenager’s Tastes Turn Expensive
What To Do When a Teenager’s Tastes Turn Expensive
Trent Hamm March 24, 2021
Somewhere along the line, the toddlers and youngsters that used to fill my house with noise grew up into preteens and teenagers. The toys they once yearned for and constantly played with have slowly been packed away and given to charities, and their tastes have changed. They now want gadgets — cellphones, tablets, higher-end PCs — and our oldest is yearning for a car in the near future.
While a small weekly allowance used to work great for helping them buy the occasional toy that they wanted, a few bucks a week doesn’t really get them to the point of being able to buy the things they want. Sarah and I don’t want to simply hand them fistfuls of cash, either. Should they get a job? What’s the solution?
The cost of teenagers
The USDA reports that the cost of raising an average American child from birth to adulthood adds up to $233,610. That’s a stunning number, but in our experience, it holds true. Having a child means having a larger house, having a bigger food bill, having clothing and educational expenses, buying gifts… it adds up surprisingly fast.
This really kicks in when they become teenagers. Expenses increase as a child ages, averaging $900 more per year for teenagers between 15–17 years of age. Why? Teenagers have higher food costs as well as transportation costs.
This is in line with my family’s experience as our children move into that age bracket. Our teens eat a lot of food, usually far more than Sarah or I do at our family dinner table. Our oldest in particular is very interested in a car and is regularly talking about plans that will result in him having one he can drive.
Teenagers’ spending habits
All of our children’s tastes have become more expensive. Each child has developed a hobby or two that’s also rather expensive. For example, my daughter is constantly drawing and seems to consume art supplies, and my oldest son is a competitive speed cuber, which requires a seemingly endless array of combination puzzles of different shapes and sizes.
To continue reading, please go to the original article here:
https://www.thesimpledollar.com/financial-wellness/teenager-spending-costs-credit-building/