Child -Like Budgets

Every one of our chlidren should learn to live on reasonable budgets themselves. How are you teaching your child to live on a reasonable budget?  We reward chores with money to some extent, but not for everything.  We save in an envelope until we have enough to buy or do what we want to do.  If we don’t have the money saved, we don’t buy it, we do without or we wait until we do have the money.  Usually if we don’t have the money and we don’t buy it………..months down the road we really don’t want/need it anymore.

Last weekend my daughter and I won close to $100 playing BINGO–something we didn’t expect.  I suggested that we put that money into an envelope and label it “State Fair” as we will be spending an evening there next month.  She agreed and now our trip to the State Fair is paid for and we won’t hesitate paying $5 for cheese curds because we already have the money set aside.