Teaching kids to be financially responsible can be part of your everyday life.


Discuss budgeting and saving with your child and help them to implement those skills with allowance or earned money.

Be open with your children about your family’s budget. It is not necessary that they know all the details but you should discuss with them how you make decisions on where the money goes.


Play games that require counting currency, budgeting, and spending. (e.g. Monopoly, Life)

Provide opportunities for children to earn, save, and spend money. This can be real money or pretend money and can be used to buy items or privileges (e.g. later bedtime, friend sleepover, etc.)

Ask family and friends to participate in a $3 birthday party for your child. Teach your child that $1 is to save, $1 is to spend, and $1 is to donate. Let your child pick the charity of his or her choice to which to donate the money!


Assist older children with opening checking accounts with earned money and assist them in balancing their checking account.

Encourage your children to earn money in age appropriate ways (e.g. setting up a lemonade stand, babysitting, cutting a neighbor’s grass, getting a part time job) and require them to save a certain percentage of every “paycheck.”

Consider matching your child’s savings discipline by matching or doubling his or her savings at certain points of the year.