Raising Money Savy Kids
Posted: September 25, 2009There is no easy road to financial success but there is a proven one ! and that what every kids should learn.
Have you heard of the ” 10-10-10-70 ” rule of budgeting ? It is a concept that guranteed to raise $ wise kids for years to come. Here is how it works.
Each month young kids can be given a small allowance of $1 in coins. Then take 4 containers and label them ” Giving” , ” Saving” , “ Investing” and ” Spending Wisely”/
10 cents goes into the ” Giving ” jar, to be given to a local charity or church. Another 10 cents should go into a ” Investing ” jar to be invested at regular intervals. Another 10 cents goes to the ” Saving “ and this should account for the future. That can be used for personal goals. The rest of the 70 cents can be used for spending on things they need.
Start this habit young and watch your kids growing up into ” Money Savy” Adults.
