What better incentive to help save money than to get kids involved. Their lovely high pitched voice reminding you to stay within the budget is enough to keep you on the straight path.
The amount of involvement depends on the age of the child. For me, it works well because I share our grocery bill savings with my daughter. We track the monthly grocery expenditures and savings on an excel spreadsheet and split the savings. She gets to use 50% of the amount saved for the month to go clothes shopping.
Savings Incentive
She hawkishly watches the monthly budget and almost questions my every expenditure. After all, buying an extra unnecessary box of doughnuts can put a damper on her fashion budget (It’s best to go grocery shopping without kids if possible).
By sharing the grocery savings, I managed to cut the “fashion” category from our family budget. Her clothes are now included in the food budget. Not too bad. I get to kill two birds with one stone. There’s a savings on food and a savings on clothes. I’d say that’s a win-win situation.
Tags: family budget with children, get kids involved with savings, maintaining a family budget, teaching kids how to save