Family Experiment: Motivating Children to Save and Budget for the Family Vacation

By Chris Jordan

My kids, like most kids I would venture to guess, do not really understand the idea of budgeting and saving. They will earn money doing extra chores, or get money as a birthday present, and immediately think of twenty different impulse things they can purchase with it. Things they didn’t even know they wanted, needed, before we stepped into the store. Given the amount of Americans who are deep in credit card debt, the impulsiveness is not something that naturally stops at adulthood.