Comments on: Teach Kids About Budgeting

By: Help little kids to learn about money : Thrifty Mommy - Time and Money Saving Tips from Thrifty Mommy

Thu, 10 Dec 2009 05:42:21 +0000

[...] As my son has gotten older he’s really started getting a grasp on money but when he was 7 years and under, he just didn’t get money all that well. Some of us, as parents make many mistakes when dealing with money and kids, so the kids aren’t just to blame. How we can help our youngest kids is to make money more real. Your child may not get it right away but the more you focus on money as a real issue that matters to your child, the more he’ll start to understand. Below are some simple things you can do to teach your little one about money and finances. [...]

By: Tips for dealing with teen money issues : Thrifty Mommy - Time and Money Saving Tips from Thrifty Mommy

Fri, 24 Apr 2009 03:04:45 +0000

[...] younger than the teen years: Hopefully, you did talk to your kids about money from the get-go, because that sets your teen up for money know-how early. If you keep mum about [...]

By: Jennifer Chait

Jennifer Chait — Wed, 15 Apr 2009 12:43:24 +0000

Hey, thanks! I’m big on experience learning too – I raised my son as an unschooler actually. Now he’s at a child-led free school, so we’re always learning by doing. I agree too, about allowing them to get the worse decisions out of the way when they’re less pricey. A bad toy decision is sure better than a bad car or house or investment idea.

By: app

app — Mon, 13 Apr 2009 10:06:40 +0000

To stop the grocery shopping trip begging that is so common in a lot of families, involve them in the pre-trip planning for both the groceries and weekly meal menu.

Let them know how much is the spending limit, what needs to be bought and why. Let them look through the sale papers to find the items, clipping coupons for them, etc. Let them help with making the list and planning the meals based on the budget and what you already have in the house.

When they start things like the cereal aisle begging, just reply with “it’s not on the list” and then ask them why it isn’t on the list. Also pointing out that if it goes in the cart, something else can’t be bought or a cheaper version of it needs to be bought instead.

Teach them about unit pricing, too. This is very important. I am amazed at how many adults don’t understand it and actually think a box of 100 tea bags for 1.99 is a better deal than 150 for 2.79. (recent argument with my husband who still doesn’t get it)

By: Suzanne Wells

Suzanne Wells — Mon, 13 Apr 2009 02:46:44 +0000

Hi, Jennifer. Love this post! I am a firm believer that kids learn best by experience. The only way to teach kids to handle money is to let them earn some and then let them handle it. If they make bad choices, let them feel that uncomfortable feeling of “I spent all my money on this?” It is better for them to have that feeling for the first time when they are young, rather than when they are an adult and the purchases are very expensive.