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Money Management for Kids – the Basics
- 1. Consistent Money Source
- 2. Banking System
- 3. Spending Plan
- 4. Budget
- 5. Spending System
- 6. Spending Tracker
www.moneyprodigy.com/money-management-for-kids/- People also ask
In order for your child to make decisions about their money and use it to the best of their ability, they’ll need a place to store it, a plan for using it, a way to spend it, and a way to track it. These are the basics of a kid money management system. Let’s go over each of these parts. See more
First up, let’s define what money management is – whether you’re an adult or a child. There are 6 components to a complete kid money management system. And we’re going to … See more
How do you move forward with teaching money management skills for kids, especially if you’re not sure what they know (or you have several kids or students at various stages of the game)? There's learning through play, and then there's learning through real … See more
Let's not forget what we're trying to do here. Besides setting up a money management system that makes sense for kids, we also are trying to teach kids some critical money management skills. So, what exactly are the money management skills kids and … See more
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