Activities to Help Your Children Learn about Budgeting

Learning about budgeting should be done at an early age. By starting your child young, you can help them grow up to be thrifty and wiser with their financial decisions. However, when teaching them at a young age, you will also need to take a child-friendly approach to ensure that they understand the concepts.

Below are some activities you can do with your child to help them start learning about budgeting. Make sure that when doing these activities, you explain to your child how it works in a way they understand.

1. Draw Up Your Family Budget With Your Child

Making a budget should not have to be an adult activity. You can create your budget and your child, so they can see what kind of expenses you have. Explain each category of the budget to them and how much you will need to spend on these budgets. You can then allow your child to practice by making their budget with their allowance for the week.

2. Make a Savings Plan for All Expenses

If your child asks for a particular toy or item, ask them to create a savings plan and budget. You can then encourage them to follow this savings plan (with your help, of course!) so that they can experience what it would be like following a strict budget on their own. After they have successfully done this, you can reward them with the toy or item they want and even an additional treat.

3. Show Them Restaurant Bills

Whenever eating out, allow your child to take a look at the bill. Encourage them to add up the bill, and you can ask them to come up with a savings plan to see how long it would take to save up to eat at the restaurant again. You can also ask them to draw up another budget with you, including specifically eating out and how much you spend on doing it.

4. Explain the Concept of Emergency Money

Sometimes, people overlook putting aside a certain amount of their income for emergency money. Ensure that your child knows what an emergency fund is and why it is an essential part of their budget. You can also encourage your child to add an emergency fund as a part of their budget plan and savings.

5. Ask Them to Make Their Monthly Budget

If you give your child allowance, you can ask them to make their monthly budget with their allowance. Remember, only interfere if necessary and allow them to explore their options and learn what spending they need to do. You can guide them along the way while allowing them to understand the purpose of their spending and what necessities they may or may not have. Doing this will enable them to handle their own money and give them the responsibility of spending it wisely and on essential things.


Learning how to budget is an important skill that you can teach your children at an early age, so they know how to make wise financial decisions in the future. Teaching them about budgeting at a young age will also help them understand the value of money and be prepared, regardless of what financial situation they may be in.

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John D Saunders

John D. Saunders is a Web Designer and Founder at 5Four Digital, CMO at Kiddie Kredit and an Automation Expert with a decade of experience building brands online. He's worked with clients including Audi, NAACP and Apps Without Code.