The Smart Way to Budget for Your Family

When Your Kid Should Pitch In

Around the time kids are able to start helping you around the house or the yard, they’re old enough to start contributing in small ways. If your kid wants something that you deem a luxury (or just don’t think is worth the cost), have her pitch in.

For example, if she wants overpriced trendy rain boots, have her pay the difference between her pick and what you’re willing to pay for regular boots. She can either pay the amount from her allowance, put in the work for something you deem worthy of $10 or simply get the lower-priced boots.

The same goes for extracurricular activities. Once your kid becomes a bona fide preteen, she’s old enough to pay for part of her expensive activities. Say she wants ballet lessons—you might ask her to pay for half or do “work” worthy of the expense, like watching her brother for a few Saturday nights.

Find Out How to Save More Money With Children

Learn how to avoid going over budget at the grocery store, find out more about IVF and adoption and what it will cost you, and save more money on childcare costs with this tip.

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