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Budget

Posted by on Mar. 12, 2014 at 2:53 PM
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For the high school and middle school, have you ever did a Budget for bills and they had to pay rent maybe help pay their cell phone bill maybe get a bank account?

by on Mar. 12, 2014 at 2:53 PM
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oahoah
by Helping Hands on Mar. 23, 2014 at 1:04 PM
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I'm not there yet but I definitely want to include some finance/budget lessons for our boys. I think it's important to learn this stuff before they get a job, not just learning the hard way.

Jinx-Troublex3
by Helping Hands on Mar. 23, 2014 at 2:32 PM

DS1 (16 yo current sophmore) is getting a job this summer so we will set up a bank account, with a debit cardfor him. It pays $200 a week plus room and board. He will be gone for 8 weeks. He will be expected to save half in a savings account (he already has) that he can't access until he is 18 yo and he can do whatever he wants with the rest.

KrissyKC
by Welcome Squad on Mar. 23, 2014 at 9:50 PM
In a few years we plan on doing a stewardship course with my older two. We might also take them to a dave ramsey seminar.
AutymsMommy
by Helping Hands on Mar. 24, 2014 at 12:11 AM

It is your job to provide your child necessities (food, clothing, roof).

I am a Home Schooling, Vaccinating, Non spanking, Nightmare Cuddling, Dessert Giving, Bedtime Kissing, Book Reading, Stay at Home Mom. I believe in the benefit of organized after school activities and nosy, involved parents. I believe in spoiling my children. I believe that I have seen the village and I do not want it anywhere near my children. Now for the controversial stuff:  we're Catholic, we're conservative, and we own guns (now there's no need to ask, lol).             Aimee















starbeck96
by Becky on Mar. 24, 2014 at 5:19 AM

My boys are 16.  In the next few months, I am thinkng about letting them see what our income is and write out all the checks for the bills, groceries, etc.

My boys are responsible for paying half of their cell phone bill.  They get to work about once a week with their dad or my dad, so they can earn a little money.  They also pay tithes and missions out of what they make.

I am probably going to get them the Dave Ramsey course next year as well.

When my husband and I got married, I knew nothing about budgeting.  I didn't have a clue how hard it can be...lol.  I want my kids to know how to live in the real world.

starbeck96
by Becky on Mar. 24, 2014 at 5:21 AM

I forgot to mention that once they get a steady job, we will open them a checking account.  My husband is hoping that he can use them more this summer so they can open an account and they can learn how to use it, while they are still under our roof and we can guide them.

Nikah2006
by Welcome Squad on Mar. 24, 2014 at 7:43 AM
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I have a 17yr old in public school. He gets a monthly allowance and he keeps the money from his job. We do not charge him gas money. But he is responsible for all his personal needs. Such as college applications, dorm deposits, senior fees,  yearbook, clothing, toothpaste, deodrant everything except food and shelter. I want him to learn how to budget. I think if childrne learn how to budget at a early age they will know how to budget better as adults.

TidewaterClan
by on Mar. 24, 2014 at 9:05 AM
My girls are just 9 & 12 but they already have bank accounts. They like depositing birthday money in it and watching it grow.

They both plan to get jobs when they're 16 so they can make their own purchases without asking.

I do think it's extremely important for children to understand budgeting. Mine get an allowance. It sinks in better if they spend it all weekly versus saving it for a larger set of Legos, etc. That was much more effective than just having me explain the concept.
AutymsMommy
by Helping Hands on Mar. 24, 2014 at 2:19 PM

?

They can learn it the same way we teach dozens of other things they can't/shouldn't directly experience - books, lectures, classes. Dave Ramsey has an excellent course for teenagers.

Quoting motheroffour186: Huh yes it is now but they have to learn it what better way to teach it to them by showing them
Quoting AutymsMommy:

It is your job to provide your child necessities (food, clothing, roof).


I am a Home Schooling, Vaccinating, Non spanking, Nightmare Cuddling, Dessert Giving, Bedtime Kissing, Book Reading, Stay at Home Mom. I believe in the benefit of organized after school activities and nosy, involved parents. I believe in spoiling my children. I believe that I have seen the village and I do not want it anywhere near my children. Now for the controversial stuff:  we're Catholic, we're conservative, and we own guns (now there's no need to ask, lol).             Aimee















Momof2IA
by Helping Hands on Mar. 26, 2014 at 7:51 PM
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Ww teach our children to save some, give some and spend some. One idea I read about was to have the child pay a small rent and when they move out to give it back to them as a surprise. It teaches them to budget their money and will give them a nice emergency fund.
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