Budgeting is a valuable lesson that we can teach our children at an early age.
We can begin by creating an allowance and helping teach money management values through various hands on examples.
They’ve created a budgeting worksheet for children, as well as teens and adults. You can view and download the ‘Sample Monthly Budget for Kids’ by Clicking Here.
The worksheet is simple and helps a child identify what their ‘wants’ are and what is needed to reach their goal. The worksheet also asks the child to identify why they want something, which can lead to critical thinking such as ‘Is this worth it to me?’
Thanks for reading. I will continue to search for tools and resources that will help your child develop essential money management skills as I find them. If you have any tips or ideas you would like to share with other parents please feel free to leave a comment.
Source: MoneyAndStuff.info is a free educational resource from the financial experts at Ohio’s credit unions.
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As always, if you have any questions, would like to discuss your financial challenges, or are just looking for advice, please call us at your convenience. As always, we are here to help and look forward to hearing from you.