It’s a bittersweet moment when your children begin driving. On the one hand, it’s a sign that they’re becoming their own person and that they’re on their way to having more responsibility. But on the other hand, it means that it won’t be long before they no longer need us in their lives! And that’s a little sad.
Of course, when they start driving, you may wish that they were a little more self-sufficient than they currently are. After all, if you’re a driver yourself, you’ll know just how expensive cars can be. And now you’re paying for someone else, too!
In this blog, we’ll look at some useful tips that’ll ensure that you can save some money when your teen starts driving.
1. Buy Lessons in Bulk
The first big expense you’ll have is getting them lessons. While you can technically teach them to drive yourself, if you don’t have any experience in this field, then it’ll be best to let a professional do it. After all, driving isn’t something where you can cut corners. They need to know how to do it properly.
You can save money by buying lessons in bulk rather than individually. This could save you 10-20%. You can save more money by making sure that they take their practical driving test while their theory is still valid. If time is running out and you can’t get a test in time, use the service offered by Earlier Driving Tests. That’ll ensure that they take their practical test while they hold a theory exam pass — otherwise, you’ll need to pay for them to take another test.
2. Share Your Car
Your son or daughter might wish that they’d have their own vehicle, but guess what? Cars are expensive! It’ll make much more sense for them to share your vehicle rather than have their own. Of course, this may require a little bit of organisation and compromise, but really, they should be happy that they’ve got their hands on a set of keys.
3. Shop For Insurance
In many cases, the cost of insurance can be more expensive than the car itself — especially if it’s a young driver. The cost of insurance becomes cheap when you’re younger than 25, but if you’re 18, it can be really expensive. Rather than just adding them to your insurance, it’s a good idea to shop around for the best deal.
As you probably already know, the cost of insurance can vary wildly. It’s important to check what the insurance includes, however, because if it’s too basic, then you may end up out of pocket if you have to make a claim.
We have put together a list here which shows the cheapest cars to insure for teenagers.
4. Let Them Pay Their Own Way
Finally, the smartest way to save some money — make your child contribute to the costs! You won’t be there to foot their bills forever. This is a good opportunity to teach them the value of money, hard work, earning an income, and budgeting. It’s about more than money. It’s about setting them up for adult life.
Sharne is an HR and Office Administrator with a degree in Classical & Archaeological studies. She has a passion for dogs and loves to share money management tricks in her spare time!