Allowance 2.0 for Teens
What's the real cost of your lifestyle? Often we under or over estimate how much we spend on the daily incidentals of life, especially when it comes to invisible expenses. These are the costs that are being paid by someone else, often a family member or parent, that don't draw from your bank account (think the shared family Netflix account, the trip your parents paid for at Thanksgiving, the new school clothes Mom paid for at the start of the year.)
By completing a monthly expense tracker, we're able to see in black and white the realities of what we think things cost, what they actually cost, and all of the invisible expenses that we might need to factor into our plans for the future when/if we have to take them over ourselves.
By compiling monthly expenses into a yearly overview, you'll be able to see the ebb and flow of some expenses throughout a year as well as recognize the consistency of other categories. Seeing these patterns can bring into focus your financial reality and what you can expect when managing your income and expenses in the future.
