Ever forget your child's allowance?

MoneyTrail automatically keeps track of allowances and keeps you organized.

Every Dollar Counts!

Teach your child to keep track of their money. It reduces impulse spending.

Finances shouldn't cause headaches!

Practicing money skills when young can lead to stress-free, responsible finances as an adult.

Monday, December 10, 2012

Buying Teacher Gifts? Why Not Teach Your Child about Budgeting at the Same Time?

From The Daring Librarian on Flickr.com

Many kids love to give their teachers a present for the holiday season. When my daughter was in elementary school, she wanted to give presents to practically every teacher and adult in her school. It was very sweet, but not the most budget friendly attitude to have!

At the beginning of December, I would ask Brittany to make a list of all the teachers that she wanted to give a gift to. Then we would talk about the total amount of money we were willing to spend on teacher presents and do the math to determine how much she could spend on each present. I honestly did not realize it at the time, but this process was modeling budgeting skills for her. It was age appropriate and was relevant to her, both of which are key to making the concept of budgeting less abstract to kids.

When Brittany wanted to hand out 15 – 20 presents, we had to come up with gifts that would still fit our budget. Here are some of our more creative, frugal ideas:

Monday, December 3, 2012

Pam's Picks: Teens & Credit Cards

Teens and credit cards?  That thought could strike fear in the heart of even the bravest parent!  However, it doesn't have to be a bad experience.  The difference between a useful financial tool and a dangerous debt builder boils down to educating your teen about credit cards and debt.  

Here are some useful resources for you: