Though it is tough to see children waste money, it may not be wasted if they learn a lesson from having made a poor decision. Encourage children to budget. As they get older, children gain experience at budgeting by having a set amount each month for certain expenses, such as lunches, recreation, and clothes. If they come up short, think twice before you provide them with an advance. Set a good example for your children.
Children take their money cues from their parents.
If you earn, spend and save wisely, your children are more likely to 'money smart' also. This web site is supported in part by the University of Missouri Outreach and Extension Outreach Development Fund . McKinnon Diana Hammond University Outreach and Extension does not discriminate on the basis of race, color, national origin, sex, religion, age, disability or status as a Vietnam-era veteran in employment or programs.