Your teens will soon want to manage all their affairs.  Use this contract to give you a template by which you can talk about it all.  The more your write down ahead of time, the fewer surprises you will have later.  They are eager to succeed.  Let them.

Agreement Between  ____________   and Mom and Dad

for the Year of _________ .  The "Global Budget".

The purpose of this contract is for each of us to write down just what we expect from each other, and just what is allowed in the coming year.  We intend to be fair and honest.

1. Provide $ ______ for the use by __________ for the purpose of buying the items in categories as listed below.
2. This sum will be delivered/deposited, on a monthly basis or lump sum directly in the account established at the bank.
3. Promise not to interfere in choices of items unless Young Adult agrees/asks to/for an Adult Consult.
4. Promise help with ideas such as sales, rummage sale transportation, newspaper clippings or help with sewing, hand me downs, etc.

1. Agrees to limit, in all good faith, cost of all items in this Global Budget to $ ________ for the year ______ to ______.
2. Agees to save $ ______ every month in saving account. Because Mom and Dad are providing this budget for day to day expenses, also agrees that ____% of money earned in any job be saved for college/education expenses.
3. Agrees to contribute $ ______ to church/synagogue/temple or to work ____ hours as a volunteer per week/month/year.
4. Agrees to perform the following errands without being asked:
5. Agrees to shop for reasonable value.
6. Agrees to keep all receipts and tags from clothing and to keep track of them in their Budget Book.
7. Agrees to dress with reasonable neatness for special occasions such as ________________ (church/synagogue, school parties, weddings, birthday parties etc.) and obtain clothes for such.
8. Agrees to not ask for more money for extra clothes.
9. Agrees to make a check list and plan ahead for expensive items needed later in the year.
10. Agrees to try not to shop out of envy for what other kids have.
11. Agrees that the items included in the Global Budget shall be those items that the Child shall be completely responsible for: (circle below in table of choices)

Miscellaneous Agreements:

1. Any money left over will belong to Child.
2. Any inadvertent tragedy or loss will be insured by parent such as loss of suitcase, major theft. Parent promises not to let child be in harms way without proper clothes.
3. Both parties agree that any item in this contract may be unable to be kept and that the contract may be reopened for amendment if that should occur - but that any one item not being met shall not mean that the rest of the items in the contract will not still be followed.