Random Thoughts About Family Budgets and Teaching Children About MoneyJuly 15
t is important for parents to teach their children how to identifying the different dominations of coins when they are at an early age, which will help them as they grow. In fact, this will teach them the individual values of each coin.
When your children are under the age of five, then this is a great time to start them identifying the coins you give them to put in their piggy banks. If they are able to begin to understand the value of each, then when they go to purchase something with their own money they will have a better understanding of how money works.
Parents should start their children out with an allowance at an early age to help them learn how to be responsible with money. For instance, for the ages of three to five a child could receive a dollar each week for simply helping to pick up their toys.
With this dollar, parents could then help their children to spend it or teach them the proper way to save their their dollar. Parent could also give their children their dollar allowance in the form of coins, then go over the dominations of the coins with them so that they understand the differences of each coin. It’s very important to teach children to be responsible with money at an early age. The last thing you want is for them to have to look to purchase a car with bad credit at just 21 years old! Teach them while they’re young and they’ll have a successful financial future.
Parents should really spend the time necessary with their children teaching them how to figure out whether or not they are getting the correct amount of change back from a purchase that they make. I do not know how many times I have purchase an item and later found out that I was given back the wrong amount.
If your child knows how to count their change before leaving a store, then they will know how to give someone the correct change if they are placed in a position later in life where they have to give others correct change.
As a family with three teenage children, we have decided that we needed to change things around the house to match our much tighter family household budget. Our youngest daughter came up with a brilliant idea and a fantastic contribution, which was to restyle, adjust, and pimp all our old clothing.
The biggest problem was to get the others involved, but it does not seem to be a suiting male event. However, for my youngest, oldest, and myself it was a nice rainy weekend filling activity. Admitting, we did ruin some pieces in our attempt to adjust them, but if we had not tried we would never have worn them anyway either.
The best part, is that we now get compliments on all the things we thought we would never wear again, because they look good as new are completely restyled into fashion.
How much good food can one family throw away? Well, there are answers to this question, but since I do not have them at hand, I will give a much more honest answer to this question. Way too much!
In times of crisis, we seem to hold on to habits we developed in the years it was financially better. However, that still does not mean there is any reason to throw away good food just because it did not get used. Leftovers can be eaten the next day, maybe for lunch, be used in soups, or even made in whole meals again.
If you make sure that the food left over will be packed and cooled properly, then there is no reason to throw them out. Now the most interesting question could be. How much would that save you in your household budget?
15 Jul 2010 | 4:15 am | Automotive
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