Thursday, June 21, 2007

Teenagers Are Expensive

Ok, you thought having a baby was expensive? All those diapers and formula, daycare and doctor's visits?

Wait until that precious little baby is a teenager. Kids get cheaper for a little while when they are between the ages of about seven and thirteen. Doctor's visits are fewer, there aren't as many wants, nobody cares too much about clothing labels. People are happy with a bike, a skateboard, and a Wii. For about six years you are deliriously happy with your economic state and you don't even know it.

Then, the barrage of expenses hits like a ton of bricks slowly emptying out of the back of a dump truck. A few bricks at a time, until the whole load finally hits you during your child's sophomore year in college. As you are saying goodbye to the teen years forever, the outflow of money is still rising. You are bleeding green by that time.

What could possibly be so expensive? Here's a list:
*a car and insurance (but, yes, your child can help pay for part of that, even though his/her school work may suffer - lol)
*clothes, clothes, and more clothes, only of a very expensive kind approved of by the in crowd (see Chrissie's previous post)
*braces and 7 retainers lost in the cafeteria trash
*dances and dresses/tuxes to wear
*lessons and sports of every imaginable kind
*eating out with everyone else who is eating out
*school - now I know it doesn't seem like school should be expensive, but it is. Clubs, trips, AP Exams, Science Fair, projects, Prom, lost books, choir dresses, fundraisers in which you buy almost all the stuff....it's expensive
*senior pictures and activities
*college tuition
*sororities and fraternities
*that $17,000 expected family contribution the fafsa thinks you can pay - twice if you have two children in college :)

Has it occurred to anyone else that we might need some Depression Era tactics fairly soon? Higher gas prices are beginning to take their toll on people's budgets, as well as on businesses in our area. Wal Mart told me the other day, as well as other merchants in the city, that shoplifting is on the rise. That cost, like health care abuses, gets passed on to one person - US, but it only matters to us in our own individual pocketbooks.

How do you save money in certain places? Use dryer sheets twice? Take your lunch to work? Eat out only five times a week (just kidding)?

Just this past week I had my children's line disconnected. My son, John, is the last one living at home for the summer and he uses his cell phone most of the time. I should have disconnected it last summer, but it was the very last vestige of my former life with children at home, knowing their names were listed in the phone book at our address. Although it cost me money to have it disconnected, it will save me money in the long run.

If you have any great ideas for saving more money, let me know. I know many of you have successfully put your children through professional school and I admire you greatly!

47 comments:

Anonymous said...

I am praying that my child does not want one of those iPhone thingys, $500?

Melony Carey and Chrissie Wagner said...

I do know some kids who have that trio @ $300. They guard them very closely at school to make sure they aren't stolen. You wouldn't buy one for your child, would you?

Anonymous said...

I was never so happy as when we paid off the last college loan for our children. Free at last!

Melony Carey and Chrissie Wagner said...

Well said - I hope to know that freedom someday, but I haven't even gotten started paying them back yet!

How are people with medical school bills as high as $80,000 paying for it? I guess they can get the clinics they sign on with the pay part of their loans?

But, what is a teacher to do who went to Vanderbilt for $120K to do? It woulod take a lifetime to pay that off!

Anonymous said...

Just today on NPR they had a financial analyst discuss the importance of teaching teens to have gratitude instead of entitlement. They were especially talking about affluent teens whose parents could buy and sell most of us. But, financial responsibility and understanding has become such a problem that now the Oklahoma legislature is incorporating financial education as a mandatory part of the curriculum.

Anonymous said...

Hello,

Loved your blog here!! Yep, teenagers are expensive!!! I did a ton of research on this. here's what I found. In the US, the average cost of raising a teenager is $107,000. Pretty expensive huh? Scary age too.

great blog.

:O)

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