Family Bank Ledger

Keep track of which child has how much spending money, so they know how much they can spend. Track where they spent in the past, to answer the age-old question, "Where did all my money go?"

While you keep full edit ability, give your kids read-only access on a device they can use. When they ask how much money they have, point them to look it up for themselves. Reinforce the importance of knowing how much they have at any point in time.

Maintain a separate ledger to track savings for the future. Show your child how the saving column continues to grow, while the spending column fluctuates with new income and expenditures.

Weekly updates are manageable, and great if you offer a weekly allowance. Keep track of any extra income or receipts for purchases the kids make and ensure they get added/deducted appropriately.