Money management and budgeting are arguably some of the most important life lessons you can teach your child. Even adults have trouble being financially respons
ible — all the more reason to start them young! If your child doesn't already have an allowance, you can have them earn money by. Then, with their money, teach them how they can assign each dollar a purpose, whether that's going toward buying something expensive like clothing or toys, casual spending money they can use to buy smaller things like books or snacks, or saving for the future. Bucketing money in this way can help teach them how to work toward short- and long-term goals.
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