Money Management for Kids (8-5-13)

Today’s Parenting Tip:

Decide:     You can teach your children the difference between needs and wants.

Practice:     Today, establish a money management system for your child. Set some rules about what happens to money that the child receives for allowances and gifts. Decide on what percentage of each allowance or gift will be for the following.

Free spending: decide whether you will have approval of what this is used for or not; if so, only judge for matters of safety or morals, not the wisdom or maturity of their choices.

Savings for needs: for example, college fund

Savings for wants: for example, new bike or computer game

Charity: of their choice

Let us know which tips you like the best or any others you think of that you want to pass along to others.

Come back each day for another good parenting decision and how to practice it.

Today’s Decide and Practice daily parenting tip was inspired by our featured picture book, KATIE AND THE PUPPY NEXT DOOR.  Read the book to a child in your life each day as a reminder of what you are deciding and practicing that day.

Come back each day for another good parenting decision and how to practice it. (Each day’s activity will also be posted on Daily Parenting Tips page for easy access.)

Read the whole story at Kids and Sharing.

One thought on “Money Management for Kids (8-5-13)

  1. Pingback: 8-4-13 Daily Parenting Tip. | Picture Book Parenting

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