Teach Money Skills to Your Family at and Early Age

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Teaching Money Skills - Give Children an Allowance

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Teaching Money Skills to Your Family

Give Your Child an Allowance

Starting kids off with good spending and saving habits is essential to a life of fiscal responsibility. If you give your child an allowance, show them how long it would take to get a large toy if they saved their entire allowance. Also, show them how long it would take them if they only saved a small amount.

For example:

Allowance: $5/week

Big toy: $30

Weeks needed to save: 6

If they only save $2 of the $5 it would look like this.

Allowance: $5/week

Saved: $2

Big toy: $30

Weeks needed to save: 15

Debt Tips Main Menu | Give Your Child and Allowance | Teach Money Skills Early in Life

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