Ways to Help Kids Learn Good Budgeting Skills
Published:
February 21, 2021
Contributor:
Jeannette Tuionetoa
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Learning about money and teaching a child how to budget are two different things. Be intentional about teaching your child how to responsibly manage money with these different ways to help kids learn good budgeting skills.
Whenever I think of preparing my children for the future (training them in the way they should go), I often think about money and money management.
The Bible is very clear on the importance of money and the dangers of money, for that matter. Therefore, it would be wise to teach our children about money.
I barely knew how to write a check, let alone manage a budget, when I first signed up for the military. It really hurt me early on in my career to not understand and not be wise with the money that I had. I had to learn the hard way as a single mom, and that was tough.
Now that I know the Lord, thankfully, I found there are Biblical principles and guidelines I can pass on to my kids about budgeting.
These are a few things God wanted us to know about money that teach good budgeting skills.
Make sure we place God above all in our teaching on budgeting.
There are plenty more passages on money, but these are great principles to start off with when teaching your kids good budgeting skills at home.
“Prepare your work outside; get everything ready for yourself in the field, and after that build your house.” Proverbs 24:27 ~ Set priorities.
“For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Otherwise, when he has laid a foundation and is not able to finish, all who see it begin to mock him, saying, ‘This man began to build and was not able to finish.” Luke 14:28-30 ~ Make a budget, clearly.
“Let Pharaoh proceed to appoint overseers over the land and take one-fifth of the produce of the land[a] of Egypt during the seven plentiful years. And let them gather all the food of these good years that are coming and store up grain under the authority of Pharaoh for food in the cities, and let them keep it. That food shall be a reserve for the land against the seven years of famine that are to occur in the land of Egypt, so that the land may not perish through the famine.” Genesis 41:34-36 ~ Save money in case of emergencies.
“The rich rules over the poor, and the borrower is the slave of the lender.” Proverbs 22:7 ~ Do not go into debt; purchase what you can afford.
“Honor the Lord with your wealth and with the firstfruits of all your produce.” Proverbs 3:9 ~ The first of ALL we do and earn should be for the Lord, towards His kingdom, and helping others.
Now, explore these practical ways to help kids learn good budgeting skills:
Use hands-on games and activities to help kids practice good budgeting skills.
30 Days of Financial Fitness: Raising Financial Literacy in Kids | Teach Mama
How To Teach Kids About Money & Budgeting (Simple Game) | The CEO Kid
Entrepreneurship for Kids: Lemonade Stand FREEBIE | Learn in Color
Pet Math Budget Challenge – Free Math Printable Game for Kids! (Grades 3-5) | Teaching with a Twist
13 FREE Money Board Games Printables (Kids & Teens) | Money Prodigy
Money Saving Challenge Game for Kids | eSavingsBlog
How to Teach Kids About Money: 19 Tips and Activities | Meraki Lane
Use FREE printables and worksheets to develop good budgeting skills:
Save, Spend, Give! Plus FREE Printable For Kids | True Aim Education
Bank Ledger Practice FREE PDF Download | Chore Charts
FREE Money Tracker for Kids | Moritz Fine Designs
Cute Budget FREE Worksheets for Kids | Living Life as Moms
FREE Financial Literacy Printables – Teaching Kids How to Manage Money | Learn in Color
13 Kid’s Budget Worksheets (FREE Sample Budget Template for Teenagers) | Money Prodigy
FREE Share, Save, Spend Printable | iMom
Absolutely FREE Financial Literacy Binder for Kids | Mrs. Jones Creation Station
FREE Kid’s Budget Worksheet Blue | Moms Budget
Use chore charts to help kids earn money for various (NOT ALL) tasks around the home.
Earning money teaches the value of money and then kids feel the need to learn how to manage it well.
Above all, even with no money earned, chore charts teach responsibility, duty, accountability, and responsibility. All of these are extremely helpful as a foundation for being frugal with money as they grow older.
How to Set-Up a Chore System Like a Pro (FREE Guide)
Motivation for Kids to do Chores
FREE Printable Chore Charts to Manage Your Household
Be an example. Show your kids that you also budget your funds.
Don’t give your kids everything they want when heading to the store – no matter how much we feel they deserve it. Make parameters for yourself, and let your kids in on how and why you are doing that.
Have kids watch some videos about budgeting and what it means if they are visual learners or you want a fun review:
Budgeting Basics for Kids – VIDEO | PursueGod Kids
What is a Budget? VIDEO| Kid Talk Edition
Prioritizing and Budgeting for Kids – VIDEO | Chad Schiel
Here are even more FREE resources to help your kids learn good budgeting skills:
Printables & Resources All About Economics
Activities to Teach Kids About Money
Economics Printables and Worksheets for Elementary
Worksheets That Teach About Money
How to Encourage Kids to Budget Their Money | Self-Sufficient Kid
Teaching Kids About Money Management & Work Ethic | Inspired by Family
How To Teach Your Kids About Money | Inspired Budget
Teaching Kids About Money With Spend Save Give Jars | Infarrantly Creative
Educating Children About Financial Responsibility | Penny Pinchin’ Mom
Teaching Kids About Money: Do I Have Enough for…? | Happy Healthy Messy
How to Teach Kids to Manage Money | Living FREE With Amy T
7 Things Every Parent Should Teach Their Kids about Money | Passion for Savings
3 Tips for Teaching Your Child How to Budget | Kori at Home
Training Your Child to Become Financially Responsible | Frugal Living Mom
7 Ways to Teach Kids What Life Actually Costs | To Love, Honor, and Vacuum
Teaching Kids How to Budget FREE Printable Sheets | Thirty Handmade Days
A budget basically is how much money you earn and then how much of that money you spend.
For the mere fact that the Lord puts emphasis on being a good steward of money, it is wise for us to teach our kids about it even from a young age. Put Him first in your budgeting and teach your children the main reason we budget is to glorify Him. In doing so, you are arming your children with the knowledge of prioritizing and budgeting to carry them through their lifetime.
