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:
A PLAN FOR SPENDING MONEY.

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!!

Start the New Year with Allowance

A is for Allowance!

Allowance is a great way to help children develop positive money habits.
Children who are asked to make choices with their own money on a regular basis are more likely to ask questions about money, save money and understand the importance of giving back.

As a parent, the toughest piece is sometimes remembering to have "cash on hand" for "payday".  We were successful with a allowance in our house when we made the collection piece our children's responsibility.   When I was growing up my dad remembered to give us allowance each week but in our busy house I am lucky if I remember dinner so it worked for us to have them come to us on Sundays. 

Allowance is a tool to give kids a chance with money management! The amount the kids are given does not make nearly as much difference as the fact that they are given money on a regular basis and asked to manage it. Older children can be given real responsibility with allowance, like buying lunch at school once a week.

They say it takes 21 days (weeks in this case)  to make a habit stick......give it a try!