Today's Tip for Families

[En español]

10-06-2024

Use an 'Account Book' to Teach Money Management

Providing an allowance can help your child learn financial responsibility. But you may not always have the right cash on hand.

To solve this problem, create an "account book" for your child in a notebook. On the first day of each month, "deposit" your child's monthly allowance in the account book by writing it down. Have your child add the amount to any previous total.

When your child is ready to make a purchase, show how to record the amount in the account book and subtract it from the total to keep track of the money remaining. Then you can pay for the item.

Keeping a log of income and expenses is an important money management skill, and your child will also be practicing math.

Brought to you by:

West Point Consolidated School District

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