The Budgeting Money Game
Keeping an account book
Budgeting money is an important life skill. It can be learned at an early age if you help your children.
Make it into a game:
It is never too early to learn the value of saving and keeping track of your income.
When they are wanting to buy something, ask them if they want to spend their own money on it. Priorities change when you ask that question. I always found out how much my kids actually wanted something. If they really, really wanted it, they would spend their own money to get it.
Have a monthly or weekly accounting session with your child -- whichever way they receive their allowances. Let them tell and show you what they did with their money.
Ask them if they think they spent their money wisely.Ask them if they could improve upon it.
By making them accountable for their money, they can see where their money goes and make mistakes while they are still young.
Learning to live on the income that they have and budgeting money helps them to make hard choices and sets the pattern for life of living within their income no matter what that is. Life will be so much easier for them in the long haul if they learn this lesson early in life.
"You're Never Too Old to Play"
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