Budgeting

This Monday, September 9th, I went to the Kiddie Academy in Lewisville, Texas and reviewed basic financial literacy with 2 classes of 20 students. Firstly, we reviewed the concepts of saving, spending, wants, and needs. Next, I defined the main concept of the lesson—budgeting. After reviewing the new content, I gave them each $100 as a paycheck for cleaning up their classroom(like a job and a paycheck), and let them budget their money into categories of spending of needs, spending on wants, and saving. After we discussed the optimal budgeting plan(the 50-30-20 rule), I quizzed the children on the lessons covered and rewarded those who answered with stickers.