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Budget Lessons for Kids and Adults Alike

There are numerous lessons that you can teach your kids using everyday actions. It may not be the fastest thing to do but they will retain the lessons much better if they have an associated event or memory to attribute to it. To explain what I mean, let me give you a hypothetical situation:


You are at the grocery store with your two kids, one is 4 and one is 6. You had to stop there after you picked them up from school because it is taco night and you don’t have all of the ingredients you need. You make a list and give it to your 6 year-old. As your 6 year-old is reading (learning to sound out longer words) you ask your 4 year-old which way to go for each item (this helps them learn directions like left and right, up and down). You are ready to shop for some cheese and there are two brands of cheese. You ask your kids which one you should buy because we want to save as much money as possible. They look at them and one has a sign that says “5 for $5.” The other says $1.99. Your 6 year-old says that 5 divided by 5 is 1 so that cheese is only $1. Your 4 year-old yells “Get that one because it is cheaper!”


A simple trip to the grocery store serves as an opportunity to help teach your kids some valuable lessons in math, reading, and self-help skills like directions. A lot of us are in a hurry, especially in a situation like this one. We just got done with a full day of work and now we have to rush to store to get home to cook dinner. However, the more you do this with your kids, the better at it they become and the quicker it will come to them.


If you have older children, use coupons and specials to help them use more complicated math and see how much savings you can accumulate together. If this is still too simple for your child’s development level, have them choose a toy/device they want (you to buy them). Have them go with you to stores to see how much money you can save from the trip and see how long it takes all of you to save up enough money to buy it with money you saved together. It doesn’t have to be the grocery store, although most coupons and specials are easier to calculate at the grocery stores more often than not.

The long-term benefits of doing this early on with your children is to help them understand the importance of saving money and budgeting. These are becoming more and more important lessons to future generations because of the increase in cost of so many everyday things. This will help them with financial planning, budget adherence, and the importance of prioritizing and monitoring their spending habits.

We at Southern Colorado Insurance want to help give you as many tips and ideas to help you and your children be safe, smart, and prepared for your futures. This is why we work personally with each of our clients and find them the best fitting policies for their situation. To see how we can better help your family, to get information on our Risk Management services, or to get a quote on an insurance policy, give Debbie a call at (719) 329-4441 or email her at youarefirst [at] scicteam [dot] com.


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