Teens, Employment & Household Contributions

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THE YEAR YOU TURN 16

• Create your resume

• Apply for jobs in person (Minimum 4 jobs per month)

• Apply for jobs online (Minimum 4 jobs per month)

Once employed, this should be your breakdown of where your income goes:

Household Contribution

- 10% of your wage should pay the household to assist with mortgage, rent and bills.

Savings

- 10% of your wage should be saved for your future vehicle and/or future household purchases (for example, furniture, crockery, tools, etc...)

- 5% of your wage should be saved for your future home

Total contributions and savings from your wage

- 25%

Spending money

- 75% of your wage is left for your own use

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THE YEAR YOU TURN 17

Household Contribution

- 15% of your wage should pay the household to assist with mortgage, rent and bills.

Savings

- 20% of your wage should be saved for your future or current vehicle and/or future household purchases (for example, furniture, crockery, tools, etc...)

- 15% of your wage should be saved for your future home

Total contributions and savings from your wage

- 50%

Spending money

- 50% of your wage is left for your own use

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THE YEAR YOU TURN 18

Household Contribution

- 20% of your wage should pay the household to assist with mortgage, rent and bills.

Savings

- 20% of your wage should be saved for your future or current vehicle and/or future household purchases (for example, furniture, crockery, tools, etc...)

- 20% of your wage should be saved for your future home

Total contributions and savings from your wage

- 60%

Spending money

- 40% of your wage is left for your own use

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THE YEAR YOU TURN 19

Household Contribution

- After deducting contributions from those in the house who are under 18, home mortgage or rent is split equally between all adults in the house.

- After deducting contributions from those in the house who are under 18, household bills are split equally between all adults in the house.

Savings

- 20% of your wage should be saved for your future or current vehicle and/or future household purchases (for example, furniture, crockery, tools, etc...)

- 25% of your wage should be saved for your future home

Total Savings

- 45%

Total contributions and savings from your wage

- 45% savings on top of the equal share of mortgage/rent and household bills.

Spending money

- Whatever is left. Welcome to adulthood.