Kids Allowance and Money Skills Checklist

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• Set a weekly allowance amount
• Discuss the purpose of an allowance
• Teach how to save a portion of the allowance
• Introduce the concept of spending vs. saving
• Create a savings goal together
• Discuss wants vs. needs
• Encourage tracking of spending habits
• Introduce simple budgeting concepts
• Teach about earning money through chores
• Discuss the importance of financial responsibility
• Explore ways to earn extra money
• Introduce basic concepts of investing
• Discuss the value of giving and charity
• Set up a savings account for the child
• Teach the basics of using cash and coins
• Discuss how to handle peer pressure regarding spending
• Encourage them to make a wish list
• Teach about the consequences of impulse buying
• Discuss the importance of comparing prices
• Introduce the concept of interest on savings
• Plan a family discussion about financial goals

Free — save your own editable copy, customize it, set reminders, and share it with others.