| Kate Rhoten
In recent weeks, my husband and I have been with two sets of friends when the topic of teens and driving has been discussed. These conversations varied on the focus of the topic, but it made me realize we are in the same boat with similar thoughts about this “event” that happens to the teen driver and the parents. Here are my takeaways from these conversations:
1. Invest is driver’s education.
It’s not cheap, but it does require time on the student driver’s part to become eligible to obtain the learner’s permit (as early as age 15 in Indiana.) We like this idea because our son will take 30 hours of classroom or online instruction regarding rules of the road and related situations. Additionally, he will get six hours on the road with an instructor. I think this is especially good, getting him out on the road first before I join him.
2. Teen drivers that desire a car should contribute to the cost of purchasing the vehicle, paying for gas and helping with the insurance cost.
We have determined that our son has to save money to buy a vehicle, and we will match this dollar amount up to a certain amount. Our son already has a vehicle in line within our family, and the family member who owns the car is on the same page as we are. Create ways to help offset the cost of insurance and gas by having the teen do extra chores for cash if he or she is not working somewhere for a paycheck. Get them involved in choosing the car insurance plan at https://carinsurancecheap.net/car-insurance-in-montana/. Be creative.
3. Driving is a privilege, not a right.
We have outlined some minimum standards regarding driving time while under permit license status and after he receives the actual license. School is his number one job. Keep the grades up, and he can keep the privilege of driving; grades slip, license is “suspended” until they are back up to the agreed upon level. If you are from Arizona and you want to get your son a license, you can apply for one today at one of myazmvd locations.
Our son will be 15 in the near future, and we have been having these conversations with him – none of this is a surprise to him. He is looking forward to showing us his maturity and earning a little bit of freedom down the road.
Kids need to have skin in the game. Without working toward and achieving a goal, the child does not “feel” the same responsibility (as it relates to the vehicle) as someone who has some money, time, and effort wrapped up in it. This is an awesome opportunity and responsibility – for the teen and the parents.
What do you think? How are you preparing your teen for driving, and what parameters are you putting into place? I would love to hear from you.
Kate is a financial expert of what to do and not do with money as well as owner of 4 Walls Money Coach, A Coaching-Focused Company. She has attended and completed Dave Ramsey’s Counselor Training. Follow Kate on Twitter 4WFCoach, reach out to her via email at kate.4walls@gmail.com or visit www.4wallsmoneycoach.com. Feel free to share ideas or questions for future articles.
