Being the mom of two high school freshmen has opened my eyes to a whole new world of expenses.
No more $10 or $15 notes from school. Now it’s requests for $50 here and $100 there. One week, we were hit with $250 in expenses for testing fees, membership fees, etc.
On the horizon are expenses like car insurance, prom, school club trips, and the looming senior year costs.
While some of these are a couple of years away, my financial coaching instincts kick in, always looking ahead and planning for the future—both for my family’s finances and my clients’.
To stay ahead of these unpredictable expenses, I’ve crafted a plan! No more waiting to be caught off guard; we’re unleashing the power of proactive budgeting. Here’s our game plan:
School Expenses Sinking Fund: We’re saving monthly to cover those surprise notes, testing fees, club dues, pictures, yearbook, prom expenses, etc. We want to be prepared for the financial ambushes that the teenage years are known for.
Teen Contributions: While society may not always agree, we believe it’s crucial for our teens to understand how money works. They’ll be contributing to some of their own expenses. This choice not only instills a sense of financial responsibility but also empowers them to take an active role in their high school journey.
Financial Foundations: We’re guiding our teens in building essential budgeting skills. They’re exploring the basics of budgeting, saving, and navigating the financial aspects of high school.
We’re on a mission to ensure our kids enjoy their teen years to the fullest without breaking the bank! You can, too!
Are you ready to take control of your money and feel confident about your kids’ expenses too? It all starts with a plan. I can help with that! Click HERE to schedule your complimentary consultation.
