Teaching kids to budget

When I was a kid my mom would tell me to save my money but it was so hard to save it when there were so many things I wanted to buy. She had all these wonderful too she would use to get us to save. It did not always work then, but know I have a great understanding of budgeting, saving and keeping out of debt.

Budgeting tip for kids

  1. Have your child save a percent out of every allowance.
  2. Have a jar for them to save for a neat toy or item
  3. Teach them to give to a charity to help the less fortunate.
  4. Help them work out a budget on a piece of paper
  5. Teach the about credit cards and how they work.

These are just a few tip to start your child on a budget. It may not be easy but it will pay off in the future for you child. There are many site and worksheets to help you on this site.