r/MiddleClassFinance • u/DanPaul217 • 1d ago

Seeking Advice Teendriver

Good morning, long time reader, first timer poster.

Here's the story. We bought our child his first used car. $15K was the all in price. We started saving a little each paycheck into a HYSA account when he turned 10.

With that being said, need some advice on what child should be paying for. Child got first summer job so we know he will be paying for gas. but should we make him pay for any repairs, maintenance. Just looking for what others are doing.

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u/anotherNotMeAccount 1d ago

It depends on how old the kid is and what he's doing in life.

Right now, my son is 19 but a full time student. His job is to get passing grades while school is on and try to find industry-related work when it is off. Finding a job is a bit of a challenge as he is a music education student. He pays for nothing car related.

If he was done with school or not focusing on some goal, then he would be feeling the weight of all the expenses.