How to Save Money

Teaching Kids About Money | 3 Budgeting Basics

Comments (2)
  1. I love the idea of the kids making their own banks, at least when you’re first starting out. I think for older kids, though, sites such as http://bankaroo.com might be a better choice, simply because they speak to the love of technology kids these days have. You can use the site to set goals or track funds without any real money, so it works for anyone in any class. Plus, it’s available as a mobile app!

  2. Renae says:

    We’ve done Financial Peace Jr. with my daughter and we’re doing it in her Sunday School this Fall. It’s so easy for kids to understand concepts like DEBT, SAVING and BUDGETING when you listen to the stories and do the workbook. I highly recommend it. My daughter is 6 now and equates toys she wants with chores. She’s often murmuring at Walmart, “Now, if I rinse dishes after dinner this week, make my bed, water the flowers, feed the dogs and take my dishes to the sink, I’ll have enough money for this Barbie.” She also has “special” activities that will earn extra money (like taking things to our neighbors, helping people at church, walking one of the dogs, or helping with weeds in the flower beds). She’s saving up for The Olivia House in Lego’s Friends and it’s $70. In 2 weeks she has earned $25! It helps them to understand that money is NOT a hand-out. I have to earn it and so does she.

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