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Every Household Should Have a Budget - Get young children involved

kathy sheehan

 

Every Household Should Have a Budget - Get young children involved!

It is my belief that it is never too early to start teaching children how to manage money.  While they won't be making a significant cash contribution to the household, it is important that they start to learn the basics of managing their money.  In my opinion this should begin as soon as they start to receive a weekly allowance.  Instilling these good habits at an early age will surely help them as an adult.

The idea here is to set up parameters for them to follow for their lifetime.  Here are two suggestions for you to consider:

  1. 10-20% of their allowance goes to savings - identify it as a long term goal such as money for their first car or their college education
  2. 5-10% of their allowance goes to charity, church contribution etc. 

Every household should have a buget and it is never to early to get young children involved with managing money.

 

Every Household Should Have a Budget - Getting Started

Every Household Should Have a Budget - Step 2

Every Household Should Have a Budget - Savings

Every Household Should Have a Budget - Checking Account

Every Household Should Have a Budget - Life Insurance

Every Household Should Have a Budget - Auto Insurance Policies

 

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Kathy Sheehan Senior Loan Officer

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770.634.4021

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Bay Equity LLC

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11475 Great Oaks Way, Suite 350, Alpharetta, GA 30002

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The opinions and general information in this blog are soley those of Kathy Sheehan.  Specifics regarding an individual case should be discussed in detail with a loan professional.  For a confidential consultation, please feel free to contact me via phone or email.  All terms and conditions are subject to change.

 

Comment balloon 8 commentsKathy Sheehan • September 01 2013 02:29PM
Every Household Should Have a Budget - Get young children involved
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