I was never allowed to go to parties with alcohol when I was a teenager. This taught me to lie through my teeth to my parents
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I have a son in year 9, and no. I wouldn't let him go to a party where it was okay for 14 year old's to be taking alcohol. I would speak to the parent involved. You might find the poor fella knows nothing about it! Teenagers are a devious little bunch!
These issues have got to be talked through properly though. Plenty of teenagers get drunk hanging around the park where there is no adult to supervise.
Just saying 'no' all the time isn't enough. Open honest discussion about the reasons why it isn't a good idea is more important in my opinion. The kids have got to learn to make responsible choices for themselves, they need have the possible consequences pointed out to them.
Peer pressure is a monster and whether we like it or not, being liked by your mates to many 14 year old's is a lot more important than doing what your Mum says.... I don't know many teenagers who don't test the boundaries! Not many resist all temptations just because they are doing what their parents have told them to do. We just like to think that's the case.