I recently read a book called " The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money" by Ron Lieber
It gave me an idea on how to further teach my kids about budgeting. One family, the author described, got his entire paycheck in cash and then showed the kids where each dollar went.
The book inspired me to do just that. I withdrew a paycheck’s worth of cash to prepare to teach my kids. Thanks to Tiller, I was able to use my existing budget to make a more simplified list of categories to show where my money goes.
We gathered the kids around the table (ages ranging from 6-17 yrs) and their interest was piqued when they saw all that cash! We explained where each dollar went and had a good discussion about needs vs wants and giving, saving and spending. I used my tiller spreadsheet for notes and explained that we do this same idea each paycheck except only using a spreadsheet instead of with cash.
It was a great experience and a moment that I think the kids will remember! (The next day I deposited the cash back in the bank and my kids still were talking about it!)