3 Ways Your Family Can Save Money Together

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In an age of technology with cell phones, smart phones and interactive video games, families may be struggling to try and find time to spend together. Some families make a point to sit down together for Sunday dinner; some families make a point to try and take a family vacation at least once a year; and some families schedule a family fun night. It can be fun to teach your kids about money because even at a young age money is always present in our children’s lives. Teaching kids about money doesn’t have to be boring, and you don’t have to wait until they learn about money in school. There are several ways that you can incorporate money into your family fun night.

Three Fun Ways to Teach Your Kids How to Save:

Give Them An Allowance. Encouraging your kids to work for their money teaches them about the value of money. Working until they save enough money to buy something that they want also teaches them how to budget. There are a lot of great educational toys (such as The Leap Pad) that can teach kids about saving money as well as basic addition and subtraction.

Take Them to the Grocery Store. Make a normal trip to the grocery store a fun learning experience. Tell your kids how much money you have to spend at the grocery store, and let them add up all of your grocery items as you put them into the shopping cart. This allows kids to practice their math skills, and it also teaches them about living within a budget.

Make the Family Budget Fun. Getting your kids involved in spending decisions makes sure that you spend time together as a family, and it also teaches your kids how to be financially responsible. Get your kids involved in setting your family budget by asking them to make a decision on where to spend money on household items if you are deciding between two items. Your kids can research the items online and decide which one they prefer to buy.
Kristina is a lifestyle and personal finance blogger who also contributes to cash advance lender, QuickQuid. You can view her posts on QuickQuid and you can follow her on Twitter @TKBlogs.

Comments

  1. Another way we save money together and spend time as a family is to do home renovations. Painting and refinishing floors can be a lot of fun when you do it as a team. We also like to work outside in the garden during the summer.

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