Now his old car needs about $400 in repairs. We just put $700 in it in January. How much do you provide for an 18 year old? My husband says he has to pay for it this time. DS works with DH one day a week, and plans to add one more in the summer. DH says he also needs to get something a couple more days a week. I think because this is his last summer before college, work, and real life, the two days should be enough.
Where do you draw the line? I want him to learn to be a responsible adult, but I also want to let him be a child for a little longer - which I'm sure is more the mom in me than anything. I look at the "kids" on American Idol and other shows and don't see them as children, but when it comes to my own child I want to protect him, and let him be a child. It's hard to find a balance. I guess that's why it's good that he has his dad - otherwise there's no telling how long he'd let me take care of him.
Made both of my kids buy their own cars.
ReplyDeleteThe gift of learning responsibility is priceless.
I think I'd make him pay. Especially in this bad economy so the kids feel it more. Not to be mean but just so they know what reality is. We are sure to have another recession in the future and no better time to train kids to know how to spend/earn/appreciate money than now. But it is hard to do this in reality especially when they are your kids you want to give them everything.
ReplyDeleteMy dad helped me find my first car when I was a teen - but I had to pay for it myself. Because it was a good deal, he paid cash for it then put together a spreadsheet to have me make monthly payments to him, with interest.
ReplyDeleteIt taught me to budget and appreciate the responsibility...if anything needed to be repaired, I had to pay for it - it was, after all, my car. If I didn't have the money for emergency repairs, my dad would cover it and I would pay him back.
What was really cool was when I made my final car payment to my dad, he surprised me by giving me back all the interest monies I had paid to him - he kept it in a savings account to give me as a 'reward' for making my payments on time...I was so glad I had been consistent with those payments! :)
@Stacy,
ReplyDeleteWhat a great idea! He has a job (well, he cuts lawns) so it wouldn't take him long to pay us back. And, it might be a little less painful this way, rather than having to dish out all the money at once.
Funny, we're having JUST this discussion at our house. Since I believe a car is a luxury item, I am reluctant to pay for it. DD sees "all her friends" (and truthfully, it is a LOT of them) getting cars from their parents the minute they get their licenses. I feel she needs to buy her own car. I am softening a little on the insurance as it is a THOUSAND DOLLARS a year for her. Geez. Right now I'm leaning toward splitting that.
ReplyDeleteCarol
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