Buying A Car For Your Teen

Since my son recently passed the written exam for his driver’s license, we’ve begun looking at possible cars to purchase.  I think a more practical vehicle for an 18-year-old young man would be a Toyota or a Honda.  We’re not in the market for a new car, but a – vehicle, with relatively low mileage.  My son’s friends drive Mercedes Benz and BMW’s, but unfortunately we cannot afford those high-priced vehicles.  Besides, I think if a kid drives a BMW, he should work for such a car.

Having rich parents is one thing, but working and understanding the value of a dollar is another.  I am trying to teach my son how to save money and work for what he wants in life. Living in the community in which we live, many people here are very materialistic and this attitude is reflected in the kids.  The clothing they wear is designer, the handbags are all designer bags.  However, I want my son to value the “things” I have worked so diligently for and realize the sacrifices I have made in my life to raise him.

I am a huge fan of Suze Orman and I have tried to take her advice.  I have an emergency fund that I am building and I do shop at places like Target, Wal-Mart and H and M.  The simple things in life are what’s more important than the label on a pair of jeans or the make and model of the car you drive.  This is what I want to teach my son.  I wish other parents would do the same.  More parents should teach their kids responsible attitudes about money.  Maybe then we’d have fewer people on government assistance.  So many people overspend and purchase things they simply cannot afford.  As a helicopter mom, I live within my means and teach my kid the same.

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