HowTech Your Child for Save Money to Four Great Idea's

It is important to teach our kids the value of "money "but keeping it simple is sometimes the biggest challenge. Here are the steps we use to keep it as simple as possible when teaching your kids about budgeting "money".

First

First, take 3 envelopes. Write: "SPEND" on the first one

"SAVE" on the second one

"GIVE" on the third one

Second

This is by far the easiest system we have put in place and frankly, would "work "great if us adults could use it too!

We tell the kids 10% will go into your "GIVE" envelope which for us, is to give to church. You could use this to give in anyway you choose but I think it is very important to teach your children to give and 10% is a great guide.

Third

40% goes into SAVE. This is saved for long term things such as family trips (Dad and Mom still dictate how much is taken out of "savings" because the kids are young yet). The rest will be saved for long term such as college and car.

Fourth

50% goes into SPEND. This is for them to spend when things come up and also if they choose, they can accumulate "money" in their SPEND envelope if they are saving for something short term like a game or a shirt.

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