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My daughter has been working for money since she was 15, she's 22.
When she was in high school she paid for her own phone, most of her clothing, and all of her entertainment. Since high school we've provided room and board. She's paid for everything else, including a car and university. We've chipped in here and there, and given gifts like laptops, but only at Christmas and birthday.
As a child, any money I made I spent on my own "luxury" expenses. Car, insurance, cell phone, etc. If I wanted it, I had to pay for it. Parents just gave me the basics like shelter, food, health insurance, etc. I also managed to save some money as well
I started working around age 14, and by age 17 managed to save enough to buy a $4500 car, insure it (under my own name when I turned 18) and manage a cell phone and entertainment expenses. I also went to college and paid for 99% of that myself as well (by way of loans mostly). Upon graduation (age 23ish) I got my own apartment..again paid for by myself.
I'd like to extend that sort of mentality to my own kids because I truly think it hurts, more than helps to just hand them such things on a platter. My job is to prepare them for a tough world. If they want such luxury items like a cell phone, car, big TV, etc at age 17, 18, 19 and beyond...it's on them to start to figure out how to get the things they want vs expecting it given to them.
I'm presently 24, but when I got my first job at 15, it was with the goal of purchasing my first vehicle (with some help from my parents) and paying for the subsequent insurance/gas/maintenance.
Whatever was left over went towards going out with friends, getting a new cell phone, and whatever else I wasted my money on as a teenager
I saved a little, but the bulk of my saving didn't happen until I was in college.
I also want to add that when my daughter reaches 16 or 17 and wants to get a "real" job instead of just babysitting then we will require that she maintains her grades and a portion of her pay will need to be saved!
My mother had me give her a fixed amount of money. It wasn't because she needed it, as it was nominal, she was teaching me a life lesson - that all my money is never my own. In life, I'll have to give a cut to someone - i.e. a landlord. She was preparing me for life on my own and the concept of no free rides. She ended up putting the money into a savings account for me and turned it over when I moved out.
My mother had me give her a fixed amount of money. It wasn't because she needed it, as it was nominal, she was teaching me a life lesson - that all my money is never my own. In life, I'll have to give a cut to someone - i.e. a landlord. She was preparing me for life on my own and the concept of no free rides. She ended up putting the money into a savings account for me and turned it over when I moved out.
I owe so much of who I am to her.
That is so refreshing to hear. I did the same for my daughter. When she turned 18 she had quite a little nest egg. She moved out at 21 and lives with two other girls. She always has money and they never do. She is going into the navy soon.
This is for parents who still mostly or partially support their kids. My mother always told me that there was no excuse at my age not to have a job because she knew so many parents that only paid for their kids education in college and rent but everything else, they worked for it themselves. i.e. holidays, alcohol/recreational drugs, movies, clothing etc..
I live in Ireland so they culture may be different but where you live and for you personally, what do most young adults (22 under) that still depend on their parents but work spend their money on?
For my still-dependent college student, some of her ancillary school expenses, clothing, transportation (other than going to and from school over breaks, which her father and I pay for), cell phone, holiday gifts, and entertainment expenses. I'm sure there are other categories, but those are the ones I can come up with off the top of my head. Honestly, my middle child is very frugal, so I'm fairly certain she saves most of what she earns at her summer job. My oldest child is now independent and pays all of his own expenses, and my youngest does not have a job.
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