Enjoy this guest post from Lindsay, our Child Learning contributor from One Beautiful Home. Take it away, Linds!
Hey Everyone! I am back today to share with you a new printable that will help your kids save money and learn how to budget and save up for specific purchases – AND save your wallet from spending unnecessarily!
Well, in preparing ourselves for this change I have evaluated all aspects of our budget and lifestyle. Since Scott and are making these changes we feel it is important that Greyson “gets on board”. Well, as much as possible for a 3.5 year old! So I've created a printable to help teach Greyson (and all kids) how to save their money! Here's how it works:
The purpose is to help him save up his own money for things he'd like to have. It can be anything from a matchbox car, arcade style games at the grocery store to some new play-doh. In the past I have always purchased something for Greyson pretty much anytime we go to the store. It was a terrible habit to get into, but instead of continuing with it, we are changing it. Anything Greyson could ever “need” he has. And if we are being honest he has pretty much anything he has ever wanted too….except for a real dinosaur.
Greyson gets “coins” (pocket change) everyday from Scott when he gets home from work. It can be anything from 1 cents, up to 99 cents. It completely depends on the change from buying his lunch. Greyson immediately puts his coins in his piggy bank. He also gets money from his grandparents and great grandparents for holidays, and birthdays. –Seriously his great grandma sent him ten bucks just for valentines day!
You can also check out Jordan's list of chores that kids can do to earn some extra money around the house.
So now Greyson can track his money coming in, and specifically save it for something with THIS PRINTABLE:
(Click HERE to download the PDF file)
- The upper right hand box is meant for your child to draw in their wish item.
- You can either write in the information for your child, or if they are older they can fill it in
- Their Names
- What they are saving for
- WHY they are saving for that specific item. It is completely okay if they say because “It's blue” or “I like it”. This is just a great way to open up a dialogue with your child about WHY they want something.
- Total amount they need to save
Jordan has spoken about the 3-Month Rule for adults many times. This file was created with that concept in mind. Though children may not be able focus on saving for a specific item for that long, it is still great to get them going in that direction for later in their lives
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Thanks so much Linds, you're the best!