Thrifty RegretsNow that my children are at the stage where they were moving away to pursue their own adult lives, I find myself having moments where I am absolutely consumed with regret. We never went to Disney World.
Teaching Kids to SaveI have this coconut bear coinbank which I got four years ago. This was a freebie from opening a kiddie bank account for my child. The bank gave this to encourage parents to teach children to keep at least a single penny a day.
Save $5 a Week for CollegeAll kids should go to college or trade school, but it can be outrageously expensive. I recommend setting up a savings account for your child and depositing five dollars a week their whole life. This adds up very quickly without taking a tremendous toll on your financial situation.
Save Half, Spend HalfEncourage your child to save half of any money that they receive, whether it is from their allowance or a gift. Work with them on how they would like to save the money.
Teach Children About Money With a Weekly AllowanceMum gave us weekly pocket money which was about double what we needed and used to tell us "Right, this is your money for the week. It's up to you how you spend it. Don't come asking for more before the week is up because you'll get nothing."
Frugal ToysWhen my three children were younger and money was tight, we would find ways to add to their toys without purchasing items. One of the things the girls loved was a silver tray and tumblers just the right size for Barbie. The silver tray was the top of a Nestle's Quik box.
Chore Jar for Kids to Earn Extra MoneyI have two children who love toys, just like any other child. We have given them an allowance since the age of 4, for which they have to earn by performing chores. With this money, they are allowed to purchase a new or used item once a month.
Teach Your Kids How to Budget by ExampleAlong with a set dollar amount, I give the kids some suggestions about cutting here and spending more there and tell them they can keep any leftover money.
Teach Your Children the Value of MoneyAs a retired school teacher, I saw many teenagers who had no idea of the value of money. They felt they should be given whatever they wanted. They also had trouble taking responsibility.
Pay Your Child SupportWin the war in the end! Pay your child support. Non custodial parents: when your children are grown they will respect you so much more if they know you paid your part to get them raised.
Being a Parent During Tough Economic TimesThe basic principles of survival are shelter, warmth, food, drink and hopefully love. Everything else is just WANTS.
Teaching Children the Value of a DollarIn a time when materialism is at a high, the task of teaching children the value of a dollar becomes difficult. Someone recently told me, "What you teach your children in the first ten years of their lives is what molds them into the people they become."
Teaching Kids About FinancesWe have tried to prepare our daughters for the real world in terms of finances and here are some of the strategies we have employed.
Deposit Allowance in a Real Bank AccountI have 4 young kids that each have a piggy bank for collecting coins and putting their allowance in. When the banks are full we take them to the bank and deposit them in their accounts, usually around twice a year.
Save Money on Kids ClothingKeep kids in nice clothing can be a major expense for parents because kids are always growing. Here are some tips from the ThriftyFun community to help you save on clothing for your kids.
Mommy Can I Have It?Children are great at breaking a budget, but it's important to set boundaries. What do you do when your child asks for something that is financially out of the question?
Extra Expenses at the Beginning of SchoolI remember when my children were in school, there were always extra unexpected expenses in the first weeks of school.
Single Parenting: Dealing With Dead-Beat DadsMy heart goes out to the innocent children who are dragged into Talk Shows with two cursing, yelling parents letting the world know they have a problem with support for their child. Children have feelings too, and the bitterness only produces frustrated adolescents. Then parents wonder why kids go off the deep end and commit crimes in an effort to get someone to listen.
Budgeting for AdolescentsIf your adolescent seems to have no idea about money and budgeting issues, set up a monthly or quarterly clothing allowance. When it's gone, that's it.
