Freedom 18 Response
After discussing with my parents about my budget, we came to an agreement that it is realistic, and that it meets my family’s expectations when I am 18. My budget is realistic because I will stay at home, along with my parents, who will pay for most of my expenses. Items such as gas, utilities, electricity, internet, housing, tuition, etc., which I won’t pay for. I am fortunate to have parents with decent salaries, but this doesn’t apply to everyone. For my income, I will work a part time job, for about 12 hours weekly, which is about $130 before taxes. Also I will get allowance from my parents for things such as movies, dining out, extra clothing, and going out with my friends. I will have a surplus of around $100 per month, which I will save. The importance of a budget is great, because you can know your needs, and you can organize your wants to buy them. When my parents were 18 years old, their budget was much different. There was not internet, phone plans, housing was much cheaper, and education wasn’t extremely needed as today. Their budget was easier to handle because all the technology today wasn’t there, which saved them tons of money for other items. Also my parents moved out at a young age, due to the cheapness of houses in the past. Comparing me when I am going to be 18, from my parents, it is better for me to live within my means. Many teenagers going into their adulthood is different than mine, they need to keep an organized account of their budget without spending a lot of money on wants, rather on their needs to survive. In conclusion, it is suitable to have a budget, with a surplus, because being young does not last forever, and when you grow up you need to plan your life with great care and responsibility, and this keeps note of how much money you can spend on specific items.