1. Managing In Tough Times “Bits & Tips” Youth: Budgeting and Allowance

2. Teaching Kids about Money Hands-on experience is best! Consider allowing your child to open a checking & savings account. Teach them to make deposits and to balance their checkbook.

3. Budgeting an Allowance Children may “blow” their allowance at first. Resist the urge to fork over more money. As long as you are providing for their physical and emotional needs, it will not hurt them to “learn the hard way”. Rewards are more meaningful and appreciated when they are earned.

4. SMART Financial Goals Specific (to buy a new smart phone) Measurable (example: costs $100) Attainable (by saving my allowance) Relevant (because I will use it) Timed (at the end of 3 months)