How do I talk to my child about budgeting?

When it comes to discussing budgeting with your children, make sure they understand the difference between spending for instant gratification and saving for something more substantial. Real-life experience is the most effective way to learn; use Mydoh to give your kids practice in budgeting.

You can also help teach your kids the fundamentals of budgeting through our Budgeting 101 guide. The guide goes over an array of different topics to ensure you have all your bases covered, including but not limited to the following:

1.    What is budgeting?
2.    4 key components of budgeting
3.    Teach your teen about needs versus wants
4.    5 steps to help your teen start budgeting
5.    3 tools that kids and teens can use for budgeting
6.    How to check on your teen’s budgeting
7.    Set your teen up for success

If you have any suggestions for other topics, you would like covered, please don’t hesitate to submit them via the in-app chat or through email at hello@mydoh.ca.