Raising children is not cheap, which is why you need to have some sort of financial stability before you start planning your family. The expenses increase as children start growing up. The relation between the growing age and the needs of children is parallel growth.
When they are young, their expenses are pretty much limited to what we decide. As they start growing up, get their own lives, start going out – their expenses increase exponentially. So, now you are not only paying for their needs, but also for their wants.
Teenage is the age when children start exploring the world. They find out things they are interested in, things they want to do, things they want – most of these things cost money. Short-term loans, like 24Cash, can help you ride the expense train and balance out your pay cycle with expenses. Let’s look at the spending trend for teenagers to identify the pattern.
Age 13 to 15
The beginning years of teenagers are when kids start making their choices and opinions heard. They are still pretty new to the real world and still relatively young, so their expenses don’t see a drastic change as such.
So, you have clothes, cell phone payments, the occasional outing – this in addition to the food and education, which is the basic – not to mention the additional cost if the child develops an interest in music, art, or sports, or any recreational activity.
Age 16 to 17
This is the age when you will see a drastic increase in expenditure. Social life becomes very important to teenagers at this age. Many children do get jobs at this age, but you will still be paying for a lot of stuff.
Social activities increase, so a lot is spent on that. Then you have the basic food, clothing, and even outings cost. If they have a job, then they might occasionally pay for their clothing and cell phone bill. If they get a vehicle, then you also have the gas cost.
More outings and more mall trips mean an increase in food costs as well. The cost also depends on how social the child is. But, it could also be balanced out because if your child isn’t that social, then their cost will be focused else were like different activities – music, games, art, etc.
Age 18 to 19
The last of the teenage years is also the most expensive of all. You have all of the above costs, but in addition to that, this age group will be starting college. College fees are never a small cost, so you already know when your child enters college, the expenses are anyway going to be back-breaking.
If they have a job and are studying from home or not studying, then the expenses tend to lower a lot from even the previous group because basically, they are adults now. Many also move out at this age. With some still living at home, the cost will then depend on the arrangement you guys have like if they are paying rent or paying for utilities and such.
Raising children is a huge expense in itself. When teenage years come knocking, the expenses do increase, which would mean that yes, teenagers do cost more money. This depends on a lot of factors, including their social life, their interests, and whether or not they have a job.