Travel Tip: Kids Pay

If your family is like ours, you plan well in advance of your vacation.

So, here's a way to alleviate part of the family vacation budge.

Have the kids save their own money for souvenirs. Encourage them to start a vacation savings account like you. They will be very choosy on how they spend their own hard earned money and they will pick something they REALLY want. Another valuable life lesson.

Money Saving Tip of the Day - Teach Them While They're Young

Want to save yourself money and teach your kids to at the same time? Start them early learning to save. Open a savings account in your child's name. Help them to find small jobs like raking a neighbor's yard or lending a friend a hand. Perhaps they can recycle cans. Discuss with your child a goal for their money. Is it an expensive game system? Or perhaps a bike? And if you really want to aim high... college?
Show them how to keep a portion for small things now, incidentals to keep them from asking you for $5 for the mall. But, put a good amount in the bank. Discuss what percentage your child will need to put back with each "paycheck" to achieve their goal.
Remind your child when they are paid you need to take a trip to the bank and be EXCITED for them. Afterall, when they use their own money, they aren't using yours! :)