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Search Results for: savings chart

Teach Your Child About Money – Free Savings Chart for Kids

November 12, 2020 | Leave a Comment

Free Savings Chart for Kids

One of the most wonderful gifts you can give your children is a healthy understanding of money. Not a craving for it or an assumption that it will lead to happiness. Instead, you have the privilege – the responsibility – to teach children about hard work, the power of saving, the dangers of debt, and the gift of giving. To help your children learn, we’ll also set you up with a free savings chart for kids.

How to Teach Your Child About Saving Money

Many people are in crisis mode, financially. It’s impossible to know what they learned or didn’t learn about money at home, but would America look different if more parents taught their children the principles I listed above? What if more parents led by example by communicating together about a budget, saying no more often to frivolous spending, and showing their children how to save up and pay cash instead of using credit cards?

It’s purely my speculation, but I’d go so far as to say we’d have less stress, less divorce, fewer addictions, more giving, and greater job satisfaction. Do you agree?

With the right steps, we can teach our children to live differently.

What About Student Loan Debt?

Free Savings Chart for Kids

Photo by Alexis Brown on Unsplash

You’re probably thinking, “What about student loans? I was just trying to further my education and now I’m overwhelmed by debt as a result.” Totally valid point. I remember approaching high school graduation and hearing everyone discuss their reasons for choosing one school over another. NOT ONCE did my friends and I stew over the debt load we’d receive from student loans. None of us saw what was coming.

In fact, according to StudentLoanHero.com, outstanding student loan debt reached more than $1.64 trillion in 2020.

How can we teach our children to save money in the face of such a burden of debt?

Start the Conversations

A great way to educate your young tribe about the dos and don’ts of spending is to create an open line of communication. Encourage them to ask questions. Show them the process of paying for your groceries or a meal at a restaurant. Take them to the bank and show them how you make a savings deposit.

Also, a conversation is a great way to tackle topics like:

  • Work ethic
  • Getting a job
  • Planning for the future
  • Saving for a major purchase
  • Saving for college (tell them about the ways you are saving for their college while they’re young)
  • Integrity
  • Greed
  • Envy
  • Contentment
  • Generosity

You don’t have to run down this list every night at the dinner table, but the more conversations you do have about these topics, the more seeds your planting in your child’s mind. You’re teaching her how to think about money, not what to think.

Put Them to Work

Free Savings Chart for Kids

Photo by NeONBRAND on Unsplash

We’ve covered the important step of talking about money. Next, it’s time to apply what your child has learned. If he’s old enough to hold a broom or to straighten up his room, your child is old enough to get paid for chores.

It’s important that he knows the money isn’t just for spending. Saving is a difficult concept for young minds, at first, unless they have something for which they’re saving. For example, if your daughter sees a Belle doll in the toy aisle and begs for you to buy it, you have some choices. You can purchase the doll, you can discuss the cost and why it’s not in the budget, or you can write down the dollar amount on a paper, head home, and help her calculate how many chores it’d take to save for the doll.

To aid in that endeavor, here are some free tools you can use with your child.

Free Savings Chart for Kids – and Other Great Savings Tools

Printable Savings Chart for Kids – via CouponsAreGreat.net

Downloadable “Share, Save, Spend” Chart for Kids – via iMom.com

Printable Savings Thermometer Chart – via Frugal-Mama.com

52-Week Money Challenge for Kids

Printable Play Money for Kids

Final Thoughts

Combine a free savings chart for kids with some great conversations and hard work around the house.  You’ll be setting the stage for great financial decisions, which will hopefully follow your children into adulthood!

Got some tips for teaching children to save money? Share one below!

Read More

5 Chores That Teach Work Ethic Principles to Toddlers

How Much, If Any, Should You Pay Your Kids for Chores?

Teach Them Young: 3 Key Tips to Help Your Child Learn about Money

Filed Under: Education, Family Time, Home and Living, Money and Finances, Parenting Tagged With: 52 week money challenge, how to teach children to save money, kids and money, savings chart for kids, teach your child to save

Free Chore Chart Template for Kids

January 7, 2021 | Leave a Comment

Chore Chart Template for Kids

My kids started helping with chores when they were about 18 months to 2 years of age.  My oldest got his own little broom that would recite, “sweeping, sweeping” as he swept.  He loved that broom, and he loved helping out.  Most toddlers are eager to do what the people around them are doing.  If you have a toddler and want to start working with them on chores or you want a more organized chore routine for your older kids, consider using one of these free chore chart templates for kids.

Why Assign Kids Chores?

Some parents don’t want their kids to do chores.  They argue that kids should just be kids.  However, there are many valid reasons why you should assign your children chores:

They Learn Valuable Life Skills

When I went to college, I couldn’t believe how many kids didn’t even know how to do their own laundry.  My son started doing his own laundry at 12, and my daughter started at 11.  The larger variety of chores you have your kids do, the better they will be able to successfully live on their own.

They Learn to Contribute

There are many things that need to be done to run a household successfully.  If you don’t expect your kids to contribute, they can grow accustomed to the idea of others doing things for them, which can lead to a sense of entitlement.  The family is the first place kids learn what it means to be part of a group and to help run that group.  This, too, will be a valuable lesson for their adult lives.

Should You Pay Kids for Chores?

Chore Chart Template for Kids

Photo by Anna Earl on Unsplash

This can be another devisive issue.  Some families don’t pay their kids money for chores because they want them to realize that they are part of a family and family members help one another.

Others, like my family, pay their kids for chores because they want kids to firmly make the connection between work and income.  You work, and you earn money.  You don’t work, and you’re broke.

Still others don’t pay cash but instead let their kids earn privileges like watching a show, or playing a video game, or staying up late based on the chores they do.

The choice is up to you and what your family decides will work best.

Free Chore Chart Template for Kids

There is no need for you to create your own chore chart template for kids when there are so many out there!  Here are a few of our favorites:

Healthy, Happy, Impactful has a chore chart template that gives blank lines to list up to eight chores beside squares for days of the week.  Just check off each day that the chore is completed.  There is also a box at the bottom for notes.

Plan for Awesome has a chore chart template for toddlers.  This one is unique in that rather than words, there are pictures so your littlest helpers can understand.  You can also use the pictures and words for the preschool and early elementary set.

Make any one of these chore charts last longer by laminating them or placing them in a plastic sleeve so you can use them week after week.

Final Thoughts

There’s no time like the present to start having your kids help with chores.  These free chore templates can help motivate them and help them find pride in their accomplishments.

Read More

Teach Your Child About Money: Free Savings Chart for Kids

Parenting Win: Teaching Money Skills to Your Kids

Free Apps that Help Kids Manage Their Pocket Money

Filed Under: Freebies for Parents, Household, Money and Finances, Parenting Blog at KidsAintCheap Tagged With: chores, free chore charts, raising independent kids, responsible kids, toddlers

Identity Thieves Love Children, So Start Building Credit Before Age 17

February 18, 2018 | Leave a Comment

Start building credit before age 17 — that’s not to say you should get your kids their own charge cards if you don’t think they’re ready. But you need to monitor their credit reports early.  [Read more…]

Filed Under: Money and Finances Tagged With: children, credit, Credit Cards, credit report, Credit Score, Identity Theft, Social Security

How to Save Hundreds on Diapers

June 25, 2020 | Leave a Comment

You might have seen those scary numbers that tell you the cost to raise a child is over $200,000 from the time of birth until the age of 18.  While there are plenty of ways to cut costs when raising your children, there’s one expense that hits you as soon as your child is born—the cost of diapers.  We had two kids in diapers for 1.5 years, and I remember being so glad when they were potty trained as we got a large chunk of our budget back.  While there’s no way to avoid this expense, there people do learn how to save hundreds on diapers.

How to Save Hundreds on Diapers

How to Save Hundreds on Diapers

There are many techniques you can use to save, but you’ll save even more if you put several of the strategies together.

Use Cloth Diapers

How to Save Hundreds on Diapers

Photo by Padmavathi Ashok Kumar on Unsplash

The best way to save is to use cloth diapers.  Most people dismiss this idea because cloth diapers aren’t allowed at daycare.  If that’s the case, use cloth diapers at home and buy disposable for daycare.  You’ll still see significant savings this way.

Buy Cloth Diapers on eBay

I cloth diapered my son almost exclusively.  I bought several lots of used cloth diapers on eBay with mixed results.  I ended up with some very nice diapers, but I also ended up with some worn out diapers that I couldn’t use.

Do Your Research First

If you’re going the eBay route, first research which diapers you’d like to use.  (There are so many brands of cloth diapers with so many different features.  Cloth diapering is not like it was 30 years ago!)

If you buy new, your diapers will likely last through several of your children.

If you buy used, check the quality description carefully.  You don’t want to end up with diapers that have very little life left.

How to Save on Disposable Diapers

There are quite a few strategies to save money on disposable diapers.  Use as many as you can to save even more.

Buy Off Brand Diapers If You Can

Of course, the biggest diaper brands, Huggies and Pampers, cost the most.  However, there are many off brand diapers that are much cheaper than the big brands.  Look for Target Up and Up diapers, Walmart’s White Cloud diapers, or Luvs.  Likewise, Walgreen’s and CVS each have their own house brand of diapers that are cheaper, too.

Use Amazon Subscribe & Save

If you have an Amazon Prime account, make sure to use subscribe & save.  When you go to put the diapers in your cart, you’ll see an option to make a one-time purchase or to make the item subscribe & save.  Thanks to Amazon Family, when you choose subscribe & save, you save 20% off your diaper purchase every time.  You just have to make sure you have five or more products on auto-delivery at the same time to the same address.  (FYI, baby food is also included in the eligible products list, so you can save there, too.)

Use Coupons

There are many, many coupons for diapers.  You can check out Coupons.com, Ibotta, or Checkout 51 for diaper coupons.  You can also email the company and sign up for their email.  (Luvs is known to be especially generous with their coupons when you sign up for their mailing list.)  Even Costco and Amazon have coupons for their diapers occasionally.

A Covert Way to Save

Diaper packages generally have a size range.  For instance, Huggies Snug & Dry size 2 one-month supply has 222 diapers in a box and fit babies weighing 12 to 18 pounds.  Size 3 of the same has 200 diapers and fits babies 16 to 28 pounds.  Some moms save money by keeping their child in the smaller size diaper as long as they can because you get more diapers per purchase in the smaller size.

You’ll know it’s time to move up to the bigger diaper size when your baby has frequent leaks or blow outs.

Build a Diaper Stash

How to Save Hundreds on Diapers

Photo by Nathan Dumlao on Unsplash

Another option is to build a diaper stash before baby is born and when you can find diapers at a great price.

Some women ask each person attending their baby shower to bring a box of diapers or wipes.  Other women start stocking up the minute they find out they’re pregnant.  (You can find quite a few good sales on diapers in nine month’s time and end up with a nice diaper stash.)  If you’re not sure what sizes to buy, there’s a handy chart one mom created documenting how many diapers in each size her daughter used during her first year.

One caveat here—be careful building a diaper stash.  I’m actually glad I never built a diaper stash.  Why?  All my kids were born over nine pounds and didn’t even fit in the newborn size diapers.  Second, one of my children had very chunky legs, so Pampers’ slimmer cut didn’t fit her well.  We had to keep her in Huggies.  If I would have stocked up on Pampers, I would have lost all of that money.  Some babies are allergic to some diapers, so those can’t be used.  For these reasons, I’d actually discourage new moms from building a diaper stash.

Buy in Bulk

If you can afford it, buying diapers in bulk is the way to go.  The bigger the box you can afford, the less you pay per diaper.  Costco is a great place to buy diapers if you don’t have an Amazon Prime account.  Target also has sales for boxes of diapers where you buy a certain amount in diapers, say $100, and then you get a $25 gift card.  This deal gives you a great incentive to buy in bulk.  (Don’t forget to get and use the Target Red card to save 5% off your purchase.)

Final Thoughts

While diapers are expensive, there are strategies to learn how to save hundreds on diapers.  Use some or most of these techniques and see how much you save.  And remember, while diapers are a big expense temporarily, this expense will usually go away in three years.  Then, it’s on to the next expense for you child.

Filed Under: Money and Finances Tagged With: baby expenses, best ways to save money as parents, Diapers, Frugal

What To Do When You Are Overspending at Christmas

December 10, 2019 | Leave a Comment

Overspending at Christmas

I have a confession.

I overspent my Christmas budget.

(And I’m not done shopping.)

Overspending At Christmas

I did everything right. I made a list of who I was shopping for and created an overall budget. All was going well until I deviated from my plan.

Typically I plan a vacation for Christmas. I prefer to gift experiences to my family over wrapped presents. Last year, we went to Disney World. The year before, we went to Great Wolf Lodge.

However, this year, my daughter wanted a saddle, and my son had been asking for some 1000+ piece Lego sets. These were items I’d buy for my kids outside of Christmas, so I thought let’s go ahead and have Santa buy them. We’ll stay home this year and spend our budget on Christmas presents.

I also expected this would create a more relaxed Christmas. I wouldn’t have to coordinate the logistics of travel, and I wasn’t planning to buy much for Christmas. After all, the presents I was going to buy weren’t extra for the sake of Christmas.

I was wrong.

It’s not more relaxed and I’m buying more presents than what was on my list.

Creating A Budget Buffer

Something I always do is that I plan to go over budget ahead of time. I do this by creating a budget buffer – usually 5 to 10% of my overall budget. Because overspending at Christmas is not an unrealistic scenario.

Since we’re home this year, I’ve been more inclined to accept invitations to Christmas parties. Also, because we are home, we’re going to my in-laws Christmas morning. This added additional people to shop for that were not on my original list.

But good plans are fluid, so I adjusted the budget per person to accommodate the extras.

Another thing that surprised me is my kids wanted to buy presents for other people. I appreciate this, and it was a simple budget obstacle to overcome.

They pitched ideas on what they would do in exchange for extra money. I was able to secure some “maid” service for the next few weeks in exchange for some small gifts. The amounts were small enough that it didn’t set me over budget because I had built in a buffer for unexpected purchases.

Plan For Budget Obstacles

What I didn’t expect was nostalgia to travel over Christmas. Impulsively, I booked a 3-day trip to Legoland. I paid the full price for the hotel room and park tickets. I was able to use miles for two of our plane tickets and paid for the other two. This was the primary reason that led to my overspending at Christmas.

So what am I going to do now that I’m WAY over budget?

Good plans should be fluid and be able to accommodate roadblocks.

I have to sacrifice in other areas of my budget. I reduced the amount my husband is allowed to spend on me and I pulled from our travel savings account to cover the hotel and tickets.

To pay for the plane tickets, I pulled from January’s budget by cutting expenses. Food was cut back, clothing was eliminated, and I cut the flash cash budget in half.

What I Learned

Through this process, I have been reminded of how grateful I am that:

1) I have set my budget up to accommodate impulse decisions – knowing this is standard behavior for me,
2) I have diversified my income so that I know I can generate some back-up income when I needed, and
3) I am committed to remaining debt-free. A few years ago, I would’ve slapped the trip on a credit card and not thought twice about taking two years to pay for it.

 

Have you gone over budget this Christmas? How do you handle impulse purchases? Is your budget set up to accommodate your personality? Let us know in the comments.

Read more:

5 Ways to Buy Cheap Christmas Gifts for Kids

Three Things You Can Do to Make Money for Christmas

Favorite Family Christmas Traditions, Modernized!

 

Filed Under: Holidays, holidays, Money and Finances, Parenting Tagged With: buying gifts, Christmas budget, Holidays

4 Creative Money Challenges for Kids

March 20, 2017 | 2 Comments

money challenges for kidsOne of the biggest – and most important – hurdles parents face is that of teaching their kids to save money. In today’s instant gratification world, kids are often led to believe that spending is more beneficial than saving. It’s our job as parents and caregivers to teach them the benefits of saving over spending. By utilizing these money challenges for kids you can help your child learn the importance of saving money.

4 Creative Money Challenges for Kids

The 365-Day Money Challenge

The 365-Day Money Challenge has flexibility in both the amount of money you can use and when you earn it. The first step is to print out a chart that has 365 days of money amounts on it, starting with $.01 up to $3.65. Then, post the chart somewhere where your child will see it every day. Each morning when your child gets up, they pay their piggy bank or money jar an amount from the chart. When they pick a money amount to save, they then cross that amount off on the chart. Each money amount can only be used once throughout the year. By the end of the year, they’ll have saved $667.95!

Wants some ideas for how to help your child earn money? Check out these chores here.

The Matching Money Challenge

This money challenge will involve parents and/or grandparents as well. The first step is to have your child decorate a jar with a lid, such as a large canning jar. They can also use their own piggy bank. Each week your child will put in their bank the money they’ve earned through different sources. Money earned for chores or allowance, or money received from gifts are some ideas for finding money to save.

After the jar is filled up, parent and child bring the jar to the bank to deposit the money. When the money is counted, parents or grandparents match the amount the child has saved. The final deposit into your child’s savings account will be double what they have saved!

The 52-Week Savings Challenge

Similar to the 365-day challenge, this challenge requires kids to save money on a regular basis. First, they print out this chart. Each week has a money amount – payable in quarters – listed on the chart.  Your child chooses which amount he or she wants to save each week, crossing that amount off as they go. By the end of the year, your child will have saved $344.50.

The Make-it-Your-Own Money Challenge

This challenge can be implemented in a number of different ways. The goal is to help kids improve their lives in some way or teach them that work produces income. The first step in this challenge is to determine a dollar amount payout. Parents can work with children to help decide how much they want to earn in a given time period. The challenge can be modified to work for every family’s budget and specific goals.

For instance, some kids may have a goal of earning $10 in a week.  Others might want to earn more over a longer time period. It also helps to determine with your child why he or she wants to save. Having a reason for saving helps motivate kids to save more.

After you’ve determined how much to save and in what time period, parents create jobs or tasks with coordinating payouts. The “jobs” can consist of several different options, such as:

  • Doing chores around the house that are outside of normally assigned chores
  • Doing learning challenges such as reading books or completing math worksheets
  • Implementing healthy habits such as exercising or making healthy eating choices
  • Choosing to cut down on screen time in favor of reading or spending time with loved ones

The challenge can be customized to fit whatever goals your family or your child may have. As a bonus, your child will earn a reward them for achieving those goals.

Teaching kids to manage money well is just one of the things we can do to prepare them for independence. By helping our children develop a habit of saving money, we can prepare them to be financially responsible adults.

Got any money challenges for kids of your own to add? Drop it below!

Are you a stay-at-home mom? Check out these hot tips and pin one for later! 

  • 10 Steps to a Successful Stay-at-Home Mom Budget
  • How to Afford Your Dream of Becoming a Stay-at-Home Mom
  • 14 Online Jobs for Stay-at-Home Moms (That Are Worth Your Time)
  • 13 Ways for Stay-at-Home Moms to Save Money
  • Loans for Stay-at-Home Moms – What Are YOUR Options?
  • The SAHM Budget Test: How to Afford to Be a Stay-at-Home Mom

Filed Under: Education, Family Time, Money and Finances, Parenting, Toys and Games Tagged With: 52 week money challenge, how to teach kids about money, money challenges for kids, teach children good habits

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