4 Tips for Teaching Kids About Money
Consider Charitable Donations
Parents, with help from their kids, can set the dollars amount or percentage towards each goal. For example, a rule could be to donate 10%, save 20% and have the remaining 70% to spend. The important thing is that kids get acquainted with the notion that every penny earned can’t be spent (think: taxes). And getting used to paying themselves first is a habit that will serve them well throughout life. There are even multi-chambered piggy banks designed for this purpose. Or, for $30 per year, you can allocate allowance dollars for different purposes and keep tabs on your kids’ I.O.U.s with threejars.com.
So maybe you can’t change your health overnight. But you can get a head start.