Teaching your kids how to budget their money and track savings is an important skill they can use as they begin to earn their own money and transition into adulthood, which comes with more financial commitments.
This kid-friendly budget sheet will help you and your child track their monthly income and expenses and calculate the difference. You can then discuss what to do with excess income or discuss opportunities for savings if they don’t have enough money left over at the end of the month.
Our savings sheet will help your child save money for large purchases. Offering to match your child’s savings is an effective way to encourage your child to save more money. Help your child determine how much money they need to save for their goal and how much they will need to save each month in order to reach that goal. You can offer to match each dollar they save beyond that monthly amount.