Teaching kids about money

 

 

 

So I have been wanting to teach the kids about money for some time now. I could not figure out the best way to do it. I’m sure there is not a perfect way, but I have been reading about it for some time. K.C. sent me a BankRate article that was really good. I bought these bins from OfficeMax and I labeled them into 4 compartments: Save, Spend, College/Retirement, Tithing. The kids have a list of chores to do around the house. They earn an allowance once a week. There is also a list of chores they can do to earn extra money. They get paid at the end of the week. We split the money up so they pay 10% to each area and what is left goes to spend. It’s been working great so far. You have to make sure you get small bills and change.

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