How Do You Help Young Children Learn To Budget?
As an adult, I often meet other adults who struggle from paycheck to paycheck. When I engage in conversation, I find that many times this struggle is the result of not being taught to budget as a child. I’d like to offer several suggestions on how you can help teach a young child both money management and budgeting: 1. Does your child enjoy buying lunch at school? Create a system/budget with them, where they are allowed to only buy 2 or 3 days per week. If they don’t buy that often, then make their budget for only 2 or 3 times per month. If you allow treats, allow money for them to buy a cookie or chocolate milk a few times. What this does is causes them to learn to make decisions with the money they have. They have to decide which meals they want to spend their allotment on. They have to decide which treat they want to purchase. They also learn that spending it all up front leaves them nothing the rest of the month. This is just a very simple exercise that even young children can lear
