Don’t buy your teenager a car for Christmas. Just don’t do it. The need to woo your teen with a generous present, like a new car, is something every loving parent feels. If it were up to you, you would gift them the world. This desire shows them you not only care, but you’re a cool parent who just purchased their kid, say, a BMW. Like we said before, just don’t buy them that car.
Still not convinced?
Well, here’s an argument that will persuade you to not sink your money into an expensive car this Christmas. Instead, purchase them a pair of socks. A quality pair of socks will go a long way. Any other present will do, really. Just don’t buy them a car.
Budgeting and Finances
Something more valuable than online traffic school and walking outside to see a car parked in the driveway is the gift of learning how to manage your money. Adults struggle with managing a budget. They flourishly spend money and refuse to save any of it. This creates long term problems for paying the important expenses in life, like bills, rent, or food. Attack the issue at a young age.
Help your teenager save and manage their finances and also find out if they, or if you can register their car online. Doing so will assist them in their car purchase, and it will teach them important money management and saving skills. This has long term benefits for their financial security.
Ownership and Property Value
Sure, an SUV is wonderful gift, but so is respect for your property. When your teenager saves their own money to purchase a car, they will learn how to value their purchases.
In other words, they won’t take your gift for granted. Often, teenagers expect their parents to buy them a car. It’s akin to your parents providing shelter for you while growing up.
When your teen doesn’t connect with the effort of earning the gift, they value the it less. Instead, they will take it for granted.
When your teenager spends their own money on a car purchase, they will feel invested in the vehicle. Along with this, they will feel inclined to take ownership and invest in the car’s well-being.
Help Them Earn Credit
Convertibles are sleek and cool, but great credit is cooler. Your teenager can get a head start on building solid credit buy purchasing their own vehicle.
Your teenager can use this opportunity to earn great credit by withdrawing an auto loan. Paying the loan back timely and through monthly installments will help them build excellent, long term credit. Along with this, they will be getting a head start on their financial portfolio at a young age.
Your teenager will develop self-esteem when they wake up Christmas morning to see a new sports car in the driveway. But this confidence will be disingenuous.
When catering to your teenager you run the risk of ruining their character. Parents spoil their children by gifting them expensive presents. This teaches them to value objects over fulfilling their greater needs.
For example, they will pursue objective earnings as opposed to building a greater sense of character through hard work and commitment.
Builds their confidence
Speaking of confidence, nothing will build confidence more than knowing you can buy your own car. This is the newfound realization that your teenager can be gifted when they buy a vehicle.
Being a guide for your teenager is always appreciated. It’s your role as a parent. But, overstepping this line will lead to the destruction of your child’s moral being. That’s why you shouldn’t buy your teenager a car this Christmas.