Tonight, I’m speaking to a local mom’s group about money management. I decided to do my presentation in a FAQ format to cover as many of the big topics as possible in my short presentation time. This is my online “handout.” I figured it would also be useful for my blog readers to get a review of the basics! [Read more…]
My daughter is on a Lego robotics team this year, and she’d love to have her own Lego robot to practice on. One of her teammates has one at home and she asked if we could get one too. While I fully support her interest in robotics, the price is quite a bit more than we currently have in our “kids activities” budget category, and she certainly doesn’t have enough in her allowance money. It’s so hard to say no in situations like this. I agree with the idea, and I have the money (but the money has other jobs in the budget).
So, how do you tell kids it’s not in the budget? [Read more…]
In my post about how I handle allowance for my kids (currently ages 7 and 8), I mentioned that they have a money storage system. When we started the allowance, I wanted to teach the kids about the different ways money can be used: spend it, save it, and give it. While we could have set up a budget system on paper or electronically, I felt that a physical bank would be a better visual for young kids. I figured I could just purchase a Spend/Save/Give bank for each of my kids, but I was shocked to see how much the commercially available banks cost. That was more than I wanted to spend from my own “spend jar”!
What does a frugal gal do when faced with something that is too expensive? Make my own, of course! To make it easier for you, I’ll share a tutorial on how I did it. [Read more…]
I believe that money management is one of the most important skills that children need to learn before they head off into adulthood. It naturally follows that if we want children to learn to manage money, we have to allow them to have some money to manage, right? That’s where allowance comes in! I wanted to start my kids on an allowance years ago but I was always stuck on what was the “right” way to do it. [Read more…]