Why is Budgeting Important?

Here's how to talk to your child about it >>>

Hey your child, budgeting is all about managing money and planning ahead. That way, you won't run out of money and you can get the things you want!
4 activities you can do with your child now >>>

- Talk about what budgeting is and why it is important to your child. Explain how budgeting helps them make sure they can buy the things they need and still save money for later. - Use the example from the video to help your child create their own budget. Explain how Jamal was able to save for his new bike by budgeting his allowance. - Help your child create a list of items they want and how much money they need to save in order to purchase them. - Show your child how to keep track of their budget. Explain how Jamal used a chart to keep track of what he was spending. Encourage your child to make a chart of their own.
Pretend play with your child >>>

Game Name: Budgeting Balance Instructions: You and your child will take turns pretending to shop with a pretend budget. You will discuss how much money your child has to spend and what items they can buy with that budget. After each turn, discuss why budgeting is important and how it can help your child in the future. Have fun!
1 moral thought for your child inspired by this >>>

your child, budgeting is the foundation of financial success. Learn to create and maintain a budget now and you'll thank yourself later!

Tips for Parents