A Child's Budget
Teaching children how to budget their money is a lesson well worth teaching. It helps children learn how to save or spend their money more responsibly. Hopefully less on wants and more on needs, like future education and having a savings in times when there is less money coming in. Just remember to teach them not to horde their money and share some of it with others in the form of a donation. Money should be seen like water: some is stored for later use (savings), some allowed to move on (donation) and some used for specific needs (food, toys, etc.).
The Expected column allows a child to create a goal, while the actual column allows them see things more realistically.
Child's Budget Worksheet
|
Monthly Income |
||
| Expected | Actual | |
| Allowance | ||
| Job, not @ home | ||
| Gifts | ||
| Total | ||
The following worksheet helps a child to break up their earnings into various categories. Allow them to create an amount they expect for each category and after a month or so help them decide where to put their money to see if their expectations were realistic or not. and then create a new list for the next month.
|
Monthly Expenses |
||
| Expected | Actual | |
| Toys | ||
| Clothing | ||
| Gifts | ||
| Savings | ||
| Cell Ph Minutes | ||
| Music | ||
| Non-Profit | ||
| College Fund | ||
| Total | ||
