Friday, January 31, 2014

Budget is not a 4 letter word

When the word budget comes up it can evoke fear or memories of long drawn out meetings in the corporate world.  Kids don't have that reference, for them it is a map!   A great way to introduce a budget is simply to tell them what it means:

Sometimes the plan will work out just as it was laid out and other times the plan will have to change but taking a little time to create a plan and track it will help to create wonderful money habits.

Try keeping a budget this month.  You can even work it backwards to start- keep track of everything you saved, spent and shared for a month. Then next month start with that map to help you decide if you would like to save a little more and spend a little less or maybe you want to make a big donation to school so there will be less to spend.  There is no right or wrong answer but the practice of creating and following a budget will be sure to help you feel good about what you are doing with your money! Make sure you celebrate when you match your budget!!

No comments: