By Tim Kowols
Even kids can get a handle on their finances early with a modified monthly expense worksheet. While bills and income may not be on the same level as their parents,’ kids can still keep track of their allowance and what is being spent on them. Gay Pustaver from Money Management Counselors says the tool is a great way to introduce children to adult life.
Pustaver says introducing the monthly expense worksheet to your kids could help you gauge where to set an allowance and assist them to achieve financial independence quicker. You can listen to the entire Money Management Monday interview with Gay Pustaver online with this story.