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give them a weekly allowance. start with a weekly one, and slowly increase until its monthly (increase the amount of allowance as well). That way, they'll slowly learn to manage their money for longer amounts of time. Make sure you don't give them more money if they beg or they wont be learning how to budget very well

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Q: How can one teach their children about budgeting money?
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One typical way to teach a family about finance is to teach them the basics of budgeting. For children, it can be helpful to utilize an allowance, or a set amount of money that they can use towards purchases.


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Children can be taught to manage money as early as when they are able to count. Teaching them as early as possible will ingrain it into their minds. One should also teach a child the value of saving their money.


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You can download free spreadsheets that are designed to help you improve your budgeting from several internet sources. One good free household budgeting spreadsheet can be found by following this link: http://www.bankrate.com/finance/money-guides/free-household-budgeting-work-sheet.aspx


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