A family dollar can’t go as far as the bachelor’s dollar in the house next door. It’s difficult to even go out to dinner without worrying that the check is going to be $50-$100 or more. And as the kids get older, the bills just continue to pile up. Eventually its time these kids learned exactly what they are costing mom and dad. Between their after school activities, new clothes for school each year, the amount of food they eat, and all little luxuries they have become accustomed to, like XBOX, iTunes, and premium cable, it starts to take a toll on the family budget.
Having a working budget that is easy for your family to follow is absolutely essential. If your family budget tells you you are spending more than is coming in this could lead to a big problem down the road. While there are few jobs that allow kids under 16 to make decent money, there are other ways that kids can contribute. For instance, if the XBOX is so important to them, then they might be convinced to do so minor chores around the house before they play it, or help cook dinner before their favorite show comes on.
On the other hand, kids can’t always be responsible for the increasing costs of your accommodating lifestyle. You might want to give them a chance to find better prices for your every day services. Most kids are tech savvy today and could find a great number of deals on the internet. Have them see what you are getting for your money and research competitor companies when dealing with services you would like to cut back on, but no terminate. For instance, Brighthouse may be getting too expensive for you, so have them check out Direct TV deals to see how much your family could be saving. You can lower your utility bills, cut services you don’t need off your cable bill and fine tune your entertainment budget as necessary. Maybe look into signing up for Netflix as opposed to going to the movies every Friday. The cost for a pizza and a few noisy friends might be slightly more economical than the gas to drive to the movies, the popcorn, and the ticket.