Released April 6, 2009
AMES, Iowa – Many moms and dads are keeping track of their spending as they try to make their money stretch in today’s economy. It’s a good practice for adults to acquire, but it’s also a good habit for children. Iowa State University Extension has a publication that can help.
“This Is the Way I Spend My Money” (4H 353) is available at no charge from ISU Extension’s Online Store, https://www.extension.iastate.edu/store/ListItems.aspx?Keyword=4H%20353.
The current economy is providing a prime opportunity for parents to get their kids interested in tracking their spending, said Sue Bogue, an ISU Extension 4-H youth development program specialist.
The 57-page workbook helps kids track their spending month-by-month for up to one year, Bogue said.
“As kids use the workbook, they’ll learn to evaluate the way they spend their money,” she explained. At the end of each month, they can examine how much they saved, how much they spent and whether they think they spent their money wisely. They also can plan for the next month.
“Whether they have steady income from a part-time job or occasional income from an allowance or gifts, kids can learn to make wise saving and spending decisions,” Bogue said. “Just like adults, as kids start to keep track of income, savings and expenses, they’ll have a better idea of where their money goes and whether they need to make changes to reach their goals.”
Families can get more information on dealing with today’s economic uncertainty from ISU Extension’s Managing Tough Times website, http://www.extension.iastate.edu/answers. Telephone hotlines, interactive websites, experts and publications are available to help families and households with finances, nutrition and health, and coping with stress.
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Contacts: Sue Bogue, (515) 294-1533, suebogue@iastate.edu
Laura Sternweis, (515) 294-0775, lsternwe@iastate.edu
