Teen Spending Contract

    

I, {Name}, understand that financial responsibility is an essential part of adulthood and agree to the following conditions concerning spending and saving:

That I will deposit {number}% of my {allowance/wages} every {period of time} into a savings account in order to pay for {desired future goal, such as college/house/travel}.

That I will not spend beyond my means. I understand that I am being entrusted with a {credit/debit} card and/or checkbook, and that all overdraft charges or interest will be paid by me.

That I will consult with parents on all purchases over {amount of money}. I will also check with them before lending money or purchasing any item from an online store that has not been previously approved.

That I will make every effort to learn about investing, saving, stocks and retirement funds in the next {amount of time}.

That I will not spend my money on illegal activities such as drugs, alcohol, cigarettes or gambling.

___________________________
Teen's Signature

___________________________
Date

__________________________
Parent's Signature

__________________________
Parent's Signature

Index of Printable Contract Examples