Advertisement

How can I help my kids learn to manage a budget?

Michele Borba
Psychology
From the time your child can write and count, give him some kind of a simple recording book to keep track of his money. A young child can track his earnings (including holiday money gifts); an older child can record his earnings and expenses. Gradually explain the “break-even point” so your older child begins to learn the necessary skills for balancing a checkbook, keeping a savings account and maintaining a budget. The holidays are a perfect time for your child to start a spending log on a limited scale. Just show your child how to keep a log for just a few weeks and track her spending. The lesson can be enlightening!

Continue Learning about Teaching Responsibilities To A School Age Child

How can I help my child plan for a successful volunteer session?
Michele BorbaMichele Borba
Help your child plan for successful volunteer sessions as follows: Suppose your child is tutoring a ...
More Answers
How can I help my child figure out how to accomplish his goal?
Michele BorbaMichele Borba
Once your child identifies his resolution or goal he needs to think through the steps to success...
More Answers
How can giving an allowance help my kids manage money?
Michele BorbaMichele Borba
One of the best ways for kids to learn to manage money and keep a budget is by giving allowances...
More Answers
How can I help my kids learn the value of money?
Michele BorbaMichele Borba
Help you child set up that lemonade stand. Encourage him to print flyers that say he’ll mow the ...
More Answers

Important: This content reflects information from various individuals and organizations and may offer alternative or opposing points of view. It should not be used for medical advice, diagnosis or treatment. As always, you should consult with your healthcare provider about your specific health needs.