Friday, October 28, 2016

Make Kids Journal Their Money Requests (VIDEO)

Make Kids Journal Their Money Requests Video Player

Video Transcript

Hey, Bill here. As always, thank you for the nice mentions on social media.

Sometimes asking mom and dad for extra money is just a little too easy. Not that kids are nefarious or anything, but harried parents are a pretty easy con.

“Ugh, I’m in a rush, so I’ll just flip him a 5.”

“Did I just give her 10 bucks on Monday, or was that last week? Man, I’m losing it!”

“I wonder if he already hit Mom up for that...”

“Did I ever get change back from that 20 bucks I doled out last week?”

Any of that sound familiar?

There’s a simple solution for putting the brakes on impulsive, redundant, or (dare I say?) exploitative money requests from the kids.

Force your kids to write it down. Make’em maintain a little money request journal.

Columns can include:

  • the Date,
  • the Requested Amount,
  • a Justification,
  • the actual Approved Amount, along with some
  • Comments from you about your approval, partial approval or even total rejection,
  • an Adjusted Amount (just in case some change was actually returned),
  • and a Running Total so everyone can clearly see the money stacking up.

By the way, If you want to ditch the pen and paper and go New School, you could use a shared Google Docs sheet or an app instead.

Now, to get money out of you, kids have to take the time to fill out a new entry and seek your formal approval.

It’s amazing how a little thought, a little transparency, a little history, and, yes, even a little red tape can put some big brakes on impulsive spending.

With a money request journal, duping Mom and Dad out of extra dollars just got a whole lot harder.

Want to turn these tips into action? Check out

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