Sometimes clear communication with your teen takes the written word. Below is a parent to teen contract for your personal use. Use the print button on this page to print it out. Please feel free to use as it is or make it your own.
Parents and Teens Contract: Teen Spending
I know having access to spend money is a privilege. I respect that my parents love me and want me to learn to spend my money responsibly. My parents respect that I am becoming a young adult and want the privilege of spending money without always asking for permission each time. With that in mind, we agree:
- To keep communicating about our family values on budgeting, positive uses for money and staying out of debt. (Define your family values below or on a separate but attached sheet.)
- I will keep my parents in the loop when it comes to how much money I have and how much I'm spending on what. While I do not need to ask their permission to buy items, I do need to keep them aware and listen to their suggestions.
- I will not purchase alcohol or drugs of any kind with my money. I will not purchase anything illegal with my money.
- I will not lend my money to others without permission from my parents.
- I will actively learn more about my personal finances, the value of money and how to save my money.
- I will not purchase any item in an online store without my parents first checking the safety of the online store. (Make a list of approved online stores on the back of this sheet.)
- My responsibilities come first. (Define responsibilities below or on the back side of this page.) I will keep up with these responsibilities or possibly lose my money spending privileges.
The consequences for not following through are: (Break it down to first offense, second offense, etc.)
