According to Practical Money Skills for Life …
“Ah, back-to-school time: the smell of newly-sharpened pencils, fresh crayons, and flowing cash. If that third one’s got you down, take a look at these tips for creating – and sticking to! – a back-to-school budget. Start early, and take time to get ready.
It doesn’t take much to turn the school’s supply list into a full-on shopping list. But you can do better than that. Before you buy even one notebook, estimate how much you can afford to spend overall and what the costs are likely to be. Don’t leave anything out! It’s better to know ahead of time if things will be tight.”
Click here to read the rest of the article. You will find good advice as well as a handy Back-to-School calculator.
According to Jason Alderman, of Visa in Get your kids involved in family finances
“As a parent, you might feel relief that teachers are taking over the reins, but hold on: School may be the best place for kids to learn the three R’s, but you’re probably still the best source for the fourth R – financial Responsibility.
Although a nationwide movement to institute financial literacy curricula in our schools is gaining momentum, currently the vast majority of schools either don’t offer such courses or don’t require them to graduate. Until that happens, it’s up to parents to ensure their kids have the financial management skills they’ll need to face the responsibilities of adulthood.”
Other Interesting Articles
Financially Intelligent Parenting: Children, Money, and Values, by Eileen Gallo, Ph.D.
Money Management for Kids, posted at kidsgoals.com
Your Children and Money, by Dr. Maryann Rosenthal