One mom uses the new school year as a learning opportunity for her kids (and saves some money) with this budgeting trick.
Page withdraws cash based on each kid’s budget, then puts the cash into envelopes, which they can take with them to the store. She recommends each child gets two separate envelopes: one for clothing and one for school supplies.
For example, if her son’s budget for a backpack is $20 and he wants a backpack that costs $25, he can pay the $5 difference with his allowance, or he can subtract $5 from something else from his clothing budget, like shoes.Cash envelopes are an easy way for kids to break down the math, she says.
“Of course, you can guide them,” she says, “but you really don’t need to be telling them what to pick. You can be walking around and finding the things that fit them best, helping them do some math, but really by that point, they should be making those life decisions.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Being given a death sentence by her doctor motivated one woman to lose 90 poundsGastric bypass surgery helped Dana Curtiss drop 90 pounds, but it was the lifestyle changes that helped her keep it off for more than a decade.
Read more »
Hilary Duff Has 15 Tattoos—& No One Ever NoticedHilary Duff has spent the last few years building up a 15-piece tattoo collection — and no one's ever noticed. So, we tracked down every tiny design.
Read more »
The Italian Pasta Trick No One Talks About'The most elegant pasta dish that Italian cooks have ever invented is astonishingly simple to make, especially now that pesto is made with a food processor instead of a mortar and pestle.'
Read more »