5 Tips to Stay Cool When Teaching Your Teen How to Drive

Your teen is turning 16 soon. Many parents dread this period. Not just because teenagers at that age can be difficult to deal with but also because they’re legally eligible to take a driving test and obtain a license.

Having your teen behind the wheel of a car can be the stuff of nightmares for many parents. This is understandable since the National Center for Health Statistics lists motor-vehicle accidents as the leading cause of death among people in their teens.

If you’re lucky, your teen may decide to delay getting their driving license and wait for a time they are more mature. According to the AAA Foundation, only 54 percent of teens that participated in the survey said they had a driving license by the time they were 18 years old. These findings show that teens are waiting longer to get their license.

While this may seem like good news, young drivers are still considered reckless. It should come as no surprise that insurance premiums rise when parents add their teens to the policy. You may score a better rate by changing your insurance provider even after you have included your teen on your policy.

If you want your teen to observe the law and be a more responsible driver, it’s a good idea to instill these principles yourself. There’s no better way to do this than to teach your teen how to drive.

The following are some tips to help you remain calm and cool during those trying trips:

  1. Practice in a safe place

The first step to ensuring that your teen learns how to drive properly is to identify a safe place where they can practice. This space should be free of traffic and other obstacles. A long empty stretch of road or an empty parking lot are great places to start.

  1. Agree on some ground rules

Agree on some basic rules before you begin the driving lessons. These rules may include establishing roles and ensuring that distractions such as smartphones are turned off while driving. Rules offer guidelines for lessons.

  1. Get the basics down

Begin with the basics necessary for driving a vehicle before you hit the open road. Make sure your teen understands just how important it is to learn these basics before you hit the highway. Learning the basics will not only help them to gain more confidence and become safer drivers, but it will also help to develop more confidence in your teen. Once these basics are mastered, it will be much easier on both of you when you hit the open road.

  1. Learn to ignore slip ups

It can be hard to ignore slip ups but doing so is essential to their development. Think about when you were first learning how to drive. You probably made just as many mistakes or even more. Expect your teen to make mistakes and be prepared to accept them. The whole idea of learning how to drive is to gain confidence behind the wheel and avoid slip ups on the road, where it counts most.

  1. Give them a little free reign

The best way to build your teen’s confidence is to be confident in their abilities. This often means giving them a little more freedom and allowing them to tackle bigger challenges. Allow them to drive on the highway once in a while (only after they have their learner’s permit and a licensed adult in the passenger seat). This will go a long way in helping your teen improve their skills quickly.

Don’t panic when faced with the prospect of teaching your teen to drive. Take it as an opportunity to instill good driving habits in them.

November 2016 Net Worth Update

penniesIn order to keep track of my financial progress or lack of progress I have decided to calculate my net worth each month.

My net worth as of 11/1/2016 is as follows.

Assets
Cash – $3263 (-$447)
IRA – $23,212 (-$665)
Roth IRA – $10,281(-$169)
Solo 401k – 969 (-$19)
Car/Stuff – $4400 (-$100)

Liabilities
Student Loan – $130,775 ($594)

Net Worth = $-88,651

My net worth decreased by $1997 since the last update. That was the worst decline since I’ve started tracking my net worth. The decline was mostly due to a downturn in the stock market. My student loan interest continued to accumulate as well. I am making a large payment towards my student loan this month which will almost cover the monthly interest. If the market recovers a bit I should be able to reverse the net worth decline this month. If the market declines or stays flat then my net worth will likely decline since I’m not making enough money right now to add to my investments or pay much extra on my student loan.

I’ve been using Personal Capital (affiliate link) to help track my net worth. It keeps track of all of my financial accounts and my student loan making it pretty easy to calculate my net worth each month. It is free to sign up. If you would like to sign up I’d appreciate you using my link. All blog income, including affiliate income, goes to paying down my student loan.

Personal Capital

October Income – $1245.60

Here is a breakdown of my income for October.

Mystery Shop $6.50
Interest $1.51
Health Survey $75
User Testing $23
Online Income $78.68
Amazon FBA $792.07
Decluttr $20
Cash Back $90.05
Bank Bonus $150
Delivery $8.79
Total $1245.60

My October income was an improvement over September which wasn’t much of an accomplishment given how low my income was in September.  On the plus side my income was greater than my expenses. Although I’d prefer to make more I’m okay with this level of income for now since I know I’ll be making a lot more once my tax job starts.

Most of the improvement in income in October came from increased Amazon FBA earnings.  Since there should be a lot more Christmas shoppers online this month I should be able to make more money this month. My week vacation might hamper that a little bit, but I’m going to try to work extra when I get back to get my earnings higher than last month.

I did have a couple of sources of income carry over from September. I made $20 referring people to Decluttr. If you would like to sign up for Decluttr you can get a $10 bonus by clicking through my referral link and using my referral code DXR9HCGXYL. You need to sell Decluttr at least $10 of stuff to qualify for the $10 bonus. I’ll receive a $10 bonus for the first ten qualified referrals as well. I made $75 referring people to an online health study. If you buy your own insurance then you might qualify for the health study. If you use my health insurance study referral link we can both make $25 when you successfully complete the study.

Overall, my earnings weren’t too bad considering I didn’t work a job at all and I spent less than 40 hours a week working on the various things that did make me money.

October Expenses – $834.53

Here is a breakdown of my expenses for October.

Household $400
Entertainment $44.49
Transportation $32.52
Food $141.11
Student Loan $90
Travel $0
Phone $36.79
Health $89.62
Total $834.53

October was a super low expense month. Since my income was also low it is good that I was able to keep my expenses low. I’ve been lucky the last few months to not have any big expenses come up. That lucky streak will end this month. I signed up for the Chase Sapphire Reserve card and will be paying a $450 annual fee. That is a pretty big fee. It is especially big compared to the size of my expenses. I think the fee will be worth it since I’ll receive a sign-up bonus worth over $1000 and will also receive a $300 travel credit this year and next. I think I’ll be able to travel quite a bit next year using the points from this card.

Other than the increase in travel expenses I don’t think any of my other expenses will change much this month. I would like to decrease my food spending just a little. Since we have a week-long trip to Las Vegas and South Carolina coming up next week it might be difficult to keep the food spending down.  I’m okay with that as long as I feel like I get good value for the money spent.

How was your October?

Free Fast Food For a Year For the Third Time

wendysLast Saturday I won free fast food for a year for the third time. If you’ve been reading the blog a long time you might remember that I also won free fast food for a year from McDonald’s way back in 2007 and 2008. As if that wasn’t enough free fast food, a friend who also won free fast food with me moved away and gave me his free fast food pass. I was eating two free fast food meals a week back in 2008.

Before I stumbled upon this latest deal it had been a long time since I had discovered an opportunity for free fast food for a year. Last week I visited a Wendy’s that had recently opened after a complete remodel and they had a flyer advertising free fast food for a year to the first 100 customers the following day. I showed up the next day and after waiting in line for about an hour and a half I received my pass for free fast food for a year. This deal wasn’t quite as good as the McDonald’s deals. This deal from Wendy’s was only for a premium sandwich or salad while the Mcd’s deals were for an extra value meal.  Considering I like Wendy’s burgers a lot better than Mcd’s the Wendy’s deal is almost as good as the Mcd’s deal.

I know I shouldn’t be eating fast food since it isn’t healthy, but I still eat it frequently.  Since I’m going to be eating it anyway I might as well get it for free. If I get a $5 sandwich each week I will have saved $260 over the course of the year. I think it is worth standing in line for an hour and a half to receive $260 worth of food.

Have you ever received any similar free food types of deals?