Family Affair: Getting Kids Involved In Back To School Money Management

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Makeba Giles

Makeba Giles

Content Creator and Curator at MELISASource
Makeba Giles is an Health, Family, and Lifestyle Blogger. She is also a Midwest Mother of four, and the Founder and Creative Director of MELISASource.com. |

EMAIL: [email protected]
Makeba Giles

PROTECTIVE CB

Getting kids involved in back to school money management sounds like a challenging task. However, it is actually quite the opposite. Teaching kids in the household about the value of money and the importance of being mindful of finances before and during the school year will not only benefit the overall bottom line of the family budget, it will also instill money management beliefs and practices into students that will serve them greatly once they reach adulthood.

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For this school year, I have an elementary student, a junior high student, and a college student in the household. That’s three different ages and grade levels of kids – each having their own unique set of financial needs. My secret to financially managing multiple kids going back to school this year is to do away with the ‘Mom-Solo’ and collective back to school shopping, and treat them as the individuals that they are. Setting distinct days and times to take each of them shopping on their own helps them to be more focused on their own needs, while simultaneously creating an atmosphere where we can talk one-on-one about being conscientious about spending for school clothes and supplies while sticking to their own designated budget.

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Back to school money management #iamprotective #Ad

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I show my kids how to shave dollars and cents as we shop for their school supplies and other items they need for the year. Before our trip to the stores even begins, we sit down and comb over store advertisements and websites to compare prices on the items they need. We also hunt for coupons and special deals – if we find more savings with online purchasing versus an in-store buy, we take advantage of it and have items shipped directly to the home.

Another way that I get the kids involved in back to school money management is by having them go on a scavenger hunt throughout the house to find any new or gently-used school supplies from the prior year. They also examine backpacks, jackets, hats, and coats for any wear and tear to see if they are in good enough condition to be worn during the new school year. We also upcycle clothing whenever we can. All of these actions saves us lots of money!

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Back to school money management

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For the rest of the school year, I get the kids involved in back to school money management by teaching them about saving and proper spending. My two youngest children save change in piggy banks. They apply towards purchasing supplies for homework assignments, snacks at school, and even new shoes and rain boots. My freshman college student has become well-versed in the saving and proper spending, and he has set himself a fixed dollar amount each week to use for incidentals during the hours he will be on campus attending his classes. In addition to that, I have regular chats with him about responsible spending and saving money for any emergencies that may arise.

As a Mom of four students in the house, my job of getting the kids involved in back to school money management does not end on the first day of school. I am always searching for new ways to protect our school year finances and household budget. Jotting down family financial tips and ideas from Protective serve as a great resource to me as the months go by. The articles from Protective help me to discover new and creative ways to teach my kids to save money for back to school needs, expenses that occur throughout the school year, and even ways to save for a college fund.

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Back to school money management #iamprotective #Ad

 

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When the kids are involved in back to school money management, it makes the entire school year flow smoothly in our household. Not only does it help the family budget, it also helps to instill the value of saving and spending properly in my kids’ minds for years to come.

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Back to school money management 

What are some of the ways you get your kids involved in back to school money management? Share with me below or tell me about it at: [email protected].

Back to school money management

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