Teaching your Kids about Budgeting
I am not a financial expert, I assure you. We have made our mistakes financially, but we are trying our best to teach our children sound fiscal wisdom to hopefully change their financial trajectory. Greg and I set a budget each month, but we wonder when to teach this to our children?From an educational perspective, there's really no bad time to start! You just have to be sure the lesson is age appropriate. For instance, younger children may only have three things to allocate money to in a budget: giving, saving, and spending on fun stuff. Older children may have more: giving, saving, auto insurance, gas, clothing above and beyond the family budget, entertainment, etc.Just because we can, though, doesn't...