Angela K. Love
Personal + Business Finance Consultant

Blog

Helping Kids Learn to Budget Using Practical Tools

There are three key learning styles: auditory, visual, and tactile or kinesthetic.  Auditory learning is through listening or speaking.  Teach.com states there is a fourth learning style, read & write where students learn best by learning and writing notes.  Visual learning is accomplished with the use of diagrams, maps, graphs, and charts.  Tactile or kinesthetic individuals learn by doing.  One type of learning style is not better than another and most people use all three learning styles to gain knowledge of new material.  However, most people have one learning style that works best for them.  Personally, my preferred learning style is tactile.  I learn best with a hands-on approach. 

Since tactile learning is my go-to method, it is not a surprise that I designed the newest budget learning tool for kids to be hands-on.  My First Budget Planner explains how to create and manage a budget through written instructions and spreadsheet examples.  The written instructions will help visual learners.  Then, kids are given the opportunity to create their own budget and to maintain it on a weekly basis.  This is great learning method for tactile learners.  For kids who are auditory learners, they are read the instructions aloud and talk through the instructions and their weekly budget with a parent. 

Regardless of a child’s learning style, the planner is designed to open discussion and get kids into the budget mindset at an early age.  Following through on a weekly basis will become a habit.  As kids see success from their efforts or learn to try again when they do not meet a goal, they will be encouraged that they can keep trying.  Budgeting is a never-ending activity throughout life.

Learning budgeting skills also teaches planning and organizational skills.  Planning and organizational skills are beneficial for school and work when kids enter their adult lives.  Check PAFS’s website for more information about our latest financial learning tool, My First Budget Planner.

If you interested in your learning style, there are some fun, quick quizzes at EducationPlanner.org and vark-learn.com.