Teaching Your Kids How - and Why - to Budget

What memories or emotions does the word “budget” bring to your mind? Perhaps it’s a childhood memory about buying clothes – or not buying clothes – for the new school year. Perhaps it’s calculating how much money you have left over after paying bills to do the “fun” stuff.

As inflation tops newcasts and minds once again, it’s a good time to return to the word – and practice. The good news? Budgeting in today’s app-driven, tech-enabled world is a much easier task than budgeting back in our day. Apps like SyncUp take all of the manual arithmetic out of the practice, tallying debits from your bank account or charges to your credit card and subtracting them from budget categories you’ve established. Learning how to budget is easier than ever, and that makes teaching your kids how to budget easy as well. With SyncUp you can set budgets, goals, and get reminders to help you achieve those goals.

Even more good news? The systems you put into practice today could quickly become habits. And because those habits pertain to your monthly bottom line, the new habits you teach your kids today could prove to set them up on a path to financial success for tomorrow.

Source: bizkids.com blog