Teaching Kids Money Management Skills

I shared a pictorial of my Personal Finance Notebook and it got me to thinking about what I should be teaching my children about finances at their ages.

At this stage they’re calculating and dividing their allowances into tithe, offering and spending money categories. They are diligently devoting 10% to tithe, 15% to savings and using the rest as spending money.

They are doing a great job and I believe it’s time to introduce lessons on basic accounting and consumer math. In and effort to incorporate as much real world experience as possible I plan to let them begin managing their own savings account bank registers and making more of their on in store register purchases.

In the meantime I am looking into resources like the ones above that will allow them to practice a bit at home first.

Do you purposefully teach your children money management skills?


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