In the past month I became the owner of an N95, a solar cooker, a Polaroid instant digital camera, an HD-720(whatever is that?), wireless speakers, a kindle ebook reader.
I consider myself lucky.
We, my friend and I, both took this decision together to let our teenage sons run the household for a month for a hands-on experience in budgeting and economy management. I got off lightly with a lopsided budget; while his teenagers ran an excess bill of $4187.00 exactly.
Let your teen take over your household economy and witness it being ruined. You will find shift of priorities. It is not just a generation gap but the increasing awareness and conscious among teenagers to lead a life that is happening. For them all that glitters is surely gold, so they love to keep pace with the changing world regardless of what its costs them. All the household expenses that you thought were important are a waste for your kid. Teens want to live a luxurious life without really caring for how much it is costing you or their lives.
Latest play station, music systems, and other gadgets that you think are a waste of money will be seen all over your place if a teenager manages the household. Get ready for the worst and see how your teen prioritizes things in the monthly budget. Be prepared to be stunned to see your monthly budget and savings being wrecked by your teenage son or daughter.
If a teenager were given the responsibility of running a house, there would be a 360-degree change in the things that are included in monthly expenses. With teens taking the household expenses, one can find expenses towering high and savings going down. This is because teenagers love to live for the present moment. They like to splurge in shopping electronic gadgets and cool stuff rather than worrying about other saving money. They are not concerned whether the electricity bill is paid or not, they are more concerned about buying the latest gadget before it runs out of stock.
You will find credit piling up like never before while savings deteriorating by the day. With credit available easily, teens leave no stone unturned to use it to the fullest. Unlike parents, teenagers do not care about the price of the articles. Their mantra is if you like something, buy it.
Who cares about nutrition these days, teens just want to treat their taste buds well, even if it is at the cost of their health. Green vegetables and fruits are replaced by potatoes, mayonnaise and sugar. Checking the nutritious value of food is passé for youth, they want to consume things that excite their taste buds.
Moral of the story: Train them before allocating responsibility