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Parent Problems: 4 Thrifty Ways to Prepare Yourself for Teenagers

It might seem like just yesterday you brought your newborn babies home from the hospital, but now, they’re teenagers. This is an exciting time to be a parent, but it’s also one that comes with its own share of anxieties and uncertainties, one of the biggest of which is, money. Parenting teenagers can be expensive and you need to know how best to deal with it. Here are four thrifty ways to prepare yourself for teenagers.

Put Aside Money for College

If you weren’t already saving for your teen’s college, do so now. The price of higher education is getting, well, higher. You want to make sure that they are able to get through with as little to no debt as possible. When considering a pricey purchase, ask yourself if it’ll be worth additional debt for your teen.

Find Deals on Clothes

Teenagers go through rapid growth spurts. You could have your teens growing several inches in the space of a few months. This means they’ll out grow their clothes fairly quickly, particularly their pants. In order to make sure you aren’t spending too much money on clothes, you should find special deals.

Look online and at in-store ads for savings. You can also utilize thrift shops that will be a blessing to your wallet.

Teach Defensive Driving

Obtaining a driver’s license is a rite of passage that most teens look forward to. However, it can create anxiety for parents, who worry about the dangers of novice drivers on the road. In order to put these fears at bay, you should teach your teens how to drive as safely as possible. Make sure they know all about defensive driving, from proper lane changing and merging to following the speed limit and driving and hazardous conditions.

This way, you won’t have to worry about paying for car repairs and insurance hikes. Every teenager makes mistakes, but mistakes behind the wheel are expensive – especially if they involve alcohol. If your child ever gets a DWI, they will suffer severe consequences. Lawyer Thomas A Corletta reminds us that for instance in New York if convicted of DWI, you will:

• Lose your license and have a Conditional or Restricted License
• Have an ignition interlock installed
• Be required to enroll in an alcohol rehabilitation and/or a state run Impaired Driver Program
You will also be required to pay a fine, probation, and/or jail is also possible. The more drunk driving convictions you incur over a 25-year period, the more severe the consequences become. The “widow” is no longer ten years. It goes back further.

So, it’s much easier on your family, and your finances, to simply teach your child early to avoid situations like that.

Have an Emergency Fund

In case things go awry and you need money to get by, you should be prepared. Make sure that you’re saving your paychecks on a regular basis. There should be a separate savings account that you keep your money in that accumulates interest. You want to be able to provide for your teenager and your family as a whole.

We hope this has given you a great idea for how to prepare yourself for teenagers. By following these tips, you can ensure solid finances for you and your whole family.

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