Simple Budgeting for Kids Using Lunch Money

dollar signThis is how buying lunch works in our school system:

  • Parents deposit dollars into their child’s lunch account at school.
  • Every time a kid buys lunch, the cost is subtracted from the balance.
  • When the account is close to zero, parents get a notice from the school cafeteria to send in more lunch money.
  • And the cycle continues.

This system worked well when my kids were younger. But as they grew, their appetites grew right along with them. Between buying double lunches and a la carte items at the middle school, my lunch money bills were getting a bit out of hand. (remember – 4 kids!)

To put a stop to this madness, I set a limit. On the first of every month I send in a check for x dollars per kid. (you can decide what amount is right for your family). And when this money is gone – well, it’s GONE. No more until the first of the following month.

I can’t believe how well this system has worked for us. My kids now plan out the days that they are going to buy lunch. They circle their choices on the menu and add up the total. And they make darn sure that they don’t go over their budget or come in under.

The bonus: any arguments between me and them over buying and taking lunch are gone.

The kids know their limit and budget their money accordingly. They feel in control. A win win situation all around!

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{ 5 comments… read them below or add one }

Rachel November 10, 2007 at 7:53 am

Wow. You go mom! That is a fantastic idea and what a great way to teach them budgeting and responsibility. We have a few years before the kids are in school, but I’m putting this in the vault ;-) Thanks!

Jeff November 10, 2007 at 12:55 pm

Good tips. My son is not in school yet, but it won’t be long so I’ll have to remember this tip.

Thanks.

Nilam November 10, 2007 at 1:49 pm

This is a FANTASTIC idea!

Simonne November 25, 2007 at 5:34 am

Your idea was great, but your kids are even better! Imagine if they would have spent everything in the first three days of the week, and starve in the others :)

Neena November 25, 2007 at 8:20 am

Simonne,
Sometimes I don’t give those kids enough credit (no pun intended). They are smart kids – and they have a lot of common sense.

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