Your Kids vs. Your Wallet

We as parent often wonder if our kids really do think that money grows on trees.  We all want things and our kids who live with us and watch what we do, will see the messages we are sending out.
All kids need to have a savings account and that can be a simple thing like a piggy bank.

Maybe your child works a part time job moving lawn or babysitting and maybe they get an allowance. No matter the resource of their money, they should establish a savings plan, for instance, a certain percent saved for toys or clothes and a certain percent to charity.  These can be seen and both a long term and short term goal.

One evening, you can get everyone together and show them your bills.  Show them where your money goes and in this meeting you might just learn something about your spending.  When done, you can discuss the spending and what things are most important and you might just be amazed by the input from your kids. You can bring out the Monopoly money and use it to show money going out with a visual as some people learn better that way, to see the actual item.