Parenting: Satisfying Teen Demands Without Breaking The Bank

Parenting is far from cheap at the best of times. Nonetheless, the costs shoot through the roof once your son or daughter becomes a teenager. Things become more expensive while they also gain new demands for social activities. Providing everything they need is a priority for all parents, but it can cause a huge financial headache. Therefore, taking immediate control is essential.

Frankly, there are a variety of steps that can be taken to satisfy those growing demands and requirements in a more cost-efficient manner. Try incorporating some of the ideas below immediately, and you should see great results in next to no time.

Reduce the cost of buying new clothes with upcycling.
Virtually all teenagers boast a passion for fashion, and they will want the latest trends and outfits. Of course, your child deserves to be treated with those items, but this isn’t the only way for them to look their best. Often, they stop wearing clothes out of pure boredom. With a little creativity, though, those items can be turned into something truly spectacular. Not only will this save money for the family, but it provides a sense of personality and character. Alternatively, you could encourage them to trade or sell unwanted clothes to afford new ones.

Encourage them to work for their money.
Teenagers need cash and giving them a little pocket money is a great starting point. Nonetheless, this is a crucial phase of their lives. Helping them to find a part-time job will increase their bank balance without reducing yours, which can be great news for everyone. Apart from anything else, it also forces home the philosophy that hard work leads to rewards. This in itself can translate very well to their academic studies. It’s important not to let their quest for money get in the way of education. But if you find the right balance, it can be a beautiful thing.

Let your child take greater responsibility when organizing social events.
The best way to promote success in this way is to start by letting them arrange their birthday party. This offers them a slice of independence. Moreover, giving them a set budget means that you’ll avoid spending more than you planned to – as you have for every party you’ve ever thrown. Of course, you’ll still want to overlook proceedings, but this is certainly a fantastic idea. If your teen shows maturity throughout the process, you can then think about rewarding it. This is great for their development and your budget, what more could any parent want?

Sacrifice the big family holiday.
A small vacation to a local destination can be just as enjoyable as an expensive annual trip. Moreover, the savings will make it easier to let your teen get involved with school activities. Those adventures are the highlight of any child’s year and provide memories that will stay with them for a lifetime. Besides, that time apart will give you a chance to catch up on other life goals or focus on your partner. Finally, if your teen ever moans when you say no to future requests, you’ll have this one in the bag as ammo.

Cut back on luxury services that aren't really needed.
Most households are guilty of overspending on cell phones, TV packages, and home entertainment. A quick price runner should open your eyes to the potential savings on offer. Meanwhile, trimming the unused TV channels can generate monthly savings. This doesn't mean you have to give up TV - take a look at this useful guide to see how to watch TV for free! Removing certain home services may lead to an initial grumble from your teen. However, they’ll have plenty of additional gadgets to keep them entertained, so it won’t reduce their fun. 

Don't cave into their pressure for certain branded food either.
Grocery shopping is one of the biggest expenses for any modern family. However, you can reduce the costs by a considerable amount simply by using coupons and buying items that are on special offer. Your teen might have a slight preference for a certain brand of fries, but it’s not worth paying over double the price you need to. There’s nothing wrong with sticking to your favorites in some areas, especially if you have dietary needs. On the whole, though, keeping an open mind to achieve the best possible saving will work wonders.

Manage your finances.
Regardless of the steps taken, you will find that raising a teen is expensive. Knowing where you stand financially will enable you to seek any temporary relief or support that is needed, even if it means borrowing some cash. The reason that installment loans are so popular is that they can be tailored to your needs, even if your history is bad. No parent wants to take on additional debt, but money isn’t the most important thing in the world. Providing your child with a happy upbringing is the most rewarding thing you can do in life. If this form of assistance allows you to do it, that’s great.

Seek financial assistance for their educational needs.
Not everyone wants to attend college. However, if your son or daughter wants to take this pathway, it will probably fill you with pride. Building a college fund is harder than ever for this generation, but you may be able to help your teen gain a scholarship or bursary. Even if it isn’t a full payment, reducing the tuition costs can have a telling impact on their future. Frankly, this is one teen's demand that no parent should let money be an obstacle. One way or another, finding ways to fund those ventures is key. As long as they appreciate the importance of this opportunity, it’ll be one of the greatest investments the family ever makes.

No two families are the same, especially on a financial front. As such, there is no one right or wrong solution to juggling those demands. Nonetheless, maintaining control with each (or at least some) of those tricks will put you in a far stronger position.

You’ll have a happy teen and a better bank balance. Right now, you wouldn't want anything else as a parent.

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