Outlay for Teen

[Dinosauraddict]

I keep seeing how children get more expensive as they get older, but as mine are not yet school age I'm worried I've not budgeted for something or am in blissful ignorance of the teen years. We pay nursery fees now, and will pay school fees going forwards. He does swimming now which I assume will get more expensive, but most after school clubs are covered by school fees, as are lunches. Uniform and books we have budgeted for as well as smaller school trips. Is it just clothes/tech/bigger school trips that become more expensive? What am I missing?

Once they start school they will be wanting to do clubs outside of school, and if at private school these may prove expensive as they are unlikely to be at the local park!
Then their instrument lessons, cost me 5 figures!

Teens start to get even more expensive as the school trips cost £3k and then there's the "friends inviting them on holiday" dilemma. Tech, driving lessons etc

Oh and budget until at least 25. Mine has changed course which means paying tuition fees too!

I think we now know who they asked as part of those 'did you know it now costs £684 000 to raise a child' type surveys that we read with disbelief.

My teens are very cheap - no school fees, not much interest in clothes or phones etc etc, but what is expensive are family trips out.

Even morning coffee is pricey when there are four of you, and going out for dinner is ££££. Flights are a big one - adults start at 12.

It makes me snort with derision when I see on MN posters pontificating about how dc do not need to be expensive and they can have Christmas presents from charity shops. There is a mahoosive difference between teens choosing trendy charity-shop gear for themselves and being presented with a dvd game of Scene It from ten years ago as their birthday present.

Bikes
Driving lessons / driving tests
Car - petrol - insurance
Dates out with friends
Clubs
Expensive shoes - year 7/8/9 school shoes trainers going out shoes all adult sizes
Meals out
Holidays
Prom clothes
Suits/smart for work experience
Birthday parties
Food - oh my the food they eat

Irma I'm always sceptical at the posters who state that you can make a teen happy by buying Christmas presents from charity shops. There's a reason why parents put Christmas on their credit cards!

No school fees for my DC, we live in London so are lucky enough to have free bus travel (at the moment) and reasonable public transport costs for teens. My two walk to and from school so that costs nothing.

Things that cost more now/didn't exist as costs when they were younger include...

Music

• Music lessons
• Music books (these are not cheap)
• Musical instruments (also not cheap but need maintenance whether that's strings, new mouthpieces, extra instruments in a different key)
• instrument insurance
• membership of orchestras/ensembles
• travel to performance venues
• possibly uniform items
• overseas tours/trips
• residential courses
• junior conservatoire fees

School

• endless supplies of tights for school
• school uniform (ours isn't pricey)
• post it notes, index cards, highlighters and other revision stationery
• subscription to revision material website/app
• school shoes (£120 for size 7 black DM shoes - they last at least a year once feet have stopped growing and are worth it)
• residential trips
• revision texts, any books read in class
• netball-proof glasses
• reusable water bottles!
• laptop
• specialist software
• bigger desk

Sport (a specific water sport for one DC)

• club fees
• storage fees
• boat and equipment
• insurance
• drysuit (annual replacement whilst growing)
• wetsuits, rash vests, boots, gloves, caps, thermals, other specific clothing and accessories
• training/event fees
• trailer
• residentials
• accommodation at events
• prescription sunglasses

We do a lot of buying of things secondhand and sell on equipment and clothing as it gets outgrown so although there's the potential for the water sport in particular to cost thousands, it actually hasn't. My 16-yr-old has a couple of branded items (trainers and her coat). Trainers were a birthday gift and she contributed towards the coat, paying the difference between my budget and the price tag. Luxury items i.e. fancy/branded versions of essential items go on birthday/Christmas lists unless they can be sourced on eBay. We do the same for much of the music and sports kit and both DCs are used to receiving secondhand gifts albeit of desired items, not random clutter.

As others have said, eating out as a family is expensive once the days of the £4.99 children's menu are over. haircuts cost more (although I cut my DCs' hair these days at their request so that's free) as does entry to pretty much anything.

My kids are 16 and 13 now and they are much cheaper than the nursery years! Neither of them are the kind of kids who ask for a lot of things, plus they have their own money (independent of savings they have for 18 plus) if they want to buy something but they rarely do. Of course Uni is looming, DS will 100% be going, he’s applying to Oxbridge and if he was to get in then they can’t work there during term time so will need supporting in that respect. So no, I think as long as you don’t intend to spoil your children with lots of designer clothes etc then you’ll find that the teen years are cheaper than the nursery years!!

Don't assume that music tuition and dance tuition are included in private school fees. IME they mostly aren't.

Hobbies have cost us the most, rowing is away most weekends, with associated hotel costs. Sailing kit costs a fortune and don't even get me started on the cost or restringing a harp.

Rounds of drinks in a pub cost a fortune and restaurant bills are huge, manage their expectations re ordering lobster!

Our 3 are mostly financially independent now and we suddenly feel rich. DH and I had fish and chips recently and it was less than £20! It used to be in the region of £50.

If you have a healthy savings balance as a family, many of the things people mention, can simply be funded from monthly income or savings and don’t need separate pots.

So I find Christmas and birthday presents and most holidays from monthly income. The same goes for clothes and general bits and bobs like money for going out with their friends or new uniform.

I want to fund the uni living costs, so am looking to save for that and would like to out away £36k by the time each child is 18. I realise not everyone can do this, but this is an area I am saving for. Those with more money often like to save for a house deposit too.

Lots of people who don’t need it for monthly expenses save child benefit if they qualify for it. If they put away £100 per month for 18 years, with a bit of interest, you’d be close to £25k by 18.

It all depends on your individual financial circumstances and if your monthly income allows you to pay lots of the standard costs without really thinking too much about them, or if you’ll need to carefully budget for things like school uniform and driving lessons.

Having some set aside for unspecified child expenses rather than everything being targeted to specific things is probably a good idea. There will always be things you haven’t thought of!

@Dinosauraddict

Wow - I'm not sure I realised how much teenagers ate

I have 3 teens and a DH, and I would say I cater for 6-7 adults every meal as the teens have bigger portions than DH and I. Sometimes there are left overs, but one of the teens will eat it later.... Music lessons also cost a fortune.

DD16 is currently having her hair done. It will cost around £120

Hobbies !

Also - devices, phone contracts, proms, photo shoots, friends nights in, friends nights out, spa weekends (plus friends), hair/nails/eyelashes, make up, handbags & heels, holidays, taxis, your taxi, lingerie, driving lessons & licences, thrilling days out, etc, etc, etc.

You’ll look back and weep that you thought you’d budgeted for teenagers.