A Clothing Compromise Teens and Parents Can Love
Parents, are you fed up with your teenagers nickel-and-diming you for the latest clothing that they just must have? Teenagers, are you sick and tired of your parents not understanding why you need those new jeans?
Compromise by following this process. It may make both sides happy and teach teens some money skills.
Here's how it works:
1. The teen and parents negotiate a set amount of money for clothing on a quarterly basis. For example, clothing money will be given for January, February, and March, and it must last the entire three months.
2. The teen organizes the items by category (for example, jeans, shoes, etc.) and tracks expenses. This allows both parents and the teen to see where the bulk of the money is going.
3. At the end of each quarter, the parents and teen review the purchases and see if spending needs to be adjusted.
4. After a year, the teen can negotiate for more money; the teen must state a case and back it up with data gathered throughout the year. Note: This is where tracking expenses using an app comes in handy.
5. The teen can negotiate to get extra money for special occasions, such as prom or homecoming.
6. Parents must stick to the agreed-upon budget and not dole out more money if the teen runs out. The point is to learn how to budget money. Teens who spend all the money in the first month and have nothing for the rest of the quarter will quickly learn to control their spending.
7. Define what does and doesn't constitute clothing. Do purses, belts, and jewelry fall into that category? The more details you spell out up front, the fewer arguments you'll have.
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