Teaching Kids About Budgeting


My three youngest children have been “working their jobs,” receiving incomes, budgeting their money and keeping track of it all in their ledgers for the past four weeks. And? They love it! I wasn’t sure if the income would be motivation enough to continue the work but for the past month, six days a week, they’re on top of it. They’re always looking forward to Fridays which is payday around here and figuring out their totals on their ledgers.

Some of you had questions about the differences between their jobs and their every day responsibilities. So their every day responsibilities and what they do NOT get paid for includes personal hygiene, like brushing their teeth, combing their hair and other similar chores. They’re also responsible for keeping their personal space organized. This includes their beds, desks and the floors surrounding these areas, cleaning up after themselves after each meal and putting away the things they play with every day. None of that is included with their “jobs.”

I divided the main area in our house into four sections. These are areas they mess up throughout the day so assigning them these jobs was agreed upon by everyone. 😁 These four sections are expected to be cleaned up twice a day. A thorough clean at 3:00 PM which takes them about 15-20 minutes and then a quick clean at 6:00 PM which only takes them about 5 minutes. And that’s it! They’ve not only been getting it all done but the older ones have sometimes helped out the younger ones without being asked. They wanted to jump in the leaves with them and they knew helping them would hurry up the process. 😍

I made available a PDF of my children’s ledger which keeps track of their income and teaches them how to budget. I also included an example for you to follow on the second page. My children get paid between $6.00 and $7.00 a week, depending on whether they complete overtime or not. They also get paid vacation and paid personal days just like the grown ups. 😊 They’re money is deducted weekly from our family budget and kept in their own bank account. And when they want to spend their money, they use the debit card from their account.

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  • Alert! Sad story ahead. Don't read if your day has been fabulous so far and you don't want anything ruining it. 😄
So two days ago I cried into these stairs for soooo many reasons. If you've been following my stories, then you know the counter top installer cracked our IKEA no-longer-being-made kitchen sink. Because we had to run out and quickly buy a similar one, they didn't charge us for the install. Ya. What I didn't mention before is that even though these two came highly recommended, the install of the counters was poorly done. They left gouges in the wall, they didn't finish the trim and the trim they did finish was cut unevenly. Thankfully I knew how to fix everything but what a disaster. I should have just installed it on my own. Then this past Monday we had our carpet replaced. We paid extra so I wouldn't have to move the furniture. When they arrived, not only did they say that they don't move furniture, while it was being torn out (different than the counter top people), they tore off parts of the wall along the stairs. I only showed one photo in my stories but it was all along almost every step. Then he told me to expect lots of scuff marks on the wall. "It's to be expected. They should have warned you." What?! So I told him that I just finished painting this entire house and to please do his best in not scuffing them up. He agreed. They finished early Tuesday and as soon as they left, I got to work fixing their mess. Only this time around, it was a lot more challenging than fixing the counters. This is when I just broke into pieces. The next day we were refunded our "furniture moving" money but the damaged wall is in dispute. Ya. But let's look at the bright side, we were able to fix and repair all the damage left behind. Happy Thursday 👍 .

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