How to Teach Your Kids About Budgeting - Episode 144

EPISODE 144: HOW TO TEACH YOUR KIDS ABOUT BUDGETING

Welcome to the Monday Money Tip Podcast! We love teaching our kids new things but when it comes to money, where do you even start? In this episode, we’re sharing tips on how to teach your kids about budgeting, plus what age should you start. In our Current Events segment, we’re discussing the three stimulus checks that have been distributed. Has this money helped you climb up the IWBNIN Ladder? Our success story comes from Amy, who made her final payment on her student loans!

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About the Episode:

  • In this episode, we’re sharing tips on how to teach your kids about budgeting, plus what age should you start.

  • In our Current Events segment, we’re discussing the three stimulus checks that have been distributed. 

  • Our success story comes from Amy, who made her final payment on her student loans!     


Big Concepts to Teach Your Kids  

  • Plan spending before you actually spend the money

  • GIVE | SAVE | INVEST | PLAN THE REST

  • Wait overnight before making a big purchase

  • Take care of needs before wants

  • Mom and Dad aren’t taking care of you the rest of your life - don’t count on us!

  • Invested money will produce money you didn’t work for!

  • Saved money allows you to take advantage of opportunities and overcome obstacles

  • Don’t borrow money for things that don’t go up in value or produce income if you can’t immediately pay it back

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