Choice and Accountability #7 talks about learning to budget. Let's face it! Girls will get money and then spend it on movies, make up, and fun stuff. Most of them will pay their tithing (Yay!). As a teen, I earned my babysitting money and spent it without much thought about tomorrow. After all, as a teen - tomorrow is a long way away...until you are a Senior Laurel and facing college or a mission.
A great Personal Progress activity is to have them learn to budget. This is my form but there are some great others out there for your use. I will add their links at the end.
1. What do I do to earn money?
2. How much do I earn or how much is my allowance?
3. What do I spend the money I earn on?
4. How much do I save and where do I put my savings?
5. Do I owe anyone money? How much? Am I paying off my debt?
6. What do I spend only on myself and what do I spend on others?
7. What skills am I developing to help me earn the money I need to meet my future goals?
8. Do I keep a financial record?
Income Planned Actual
Wages/Salary (after taxes) -
Other Income -
Church Donations -
Utilities/Cell Phone -
When my daughter left for BYU, we paid her tuition, books, and meals. For extras, she had to earn her own way. It was a wonderful experience for her and she has become a very frugal and thrifty mom today. She was amazed at how much of her paycheck went to taxes and there is the never-ending saving of quarters for the washer and dryer! This activity can be added to a lesson on tithing and fast offerings as well as meal planning or shopping.
Choice and Accountability #7: https://www.lds.org/young-women/personal-progress/choice-and-accountability?lang=eng
A 3 month budget planner from Mormon Share: http://www.mormonshare.com/lds-clipart/personal-progress-choice-and-accountability-value-experience-7-handout
A funny lesson taught by Bill Cosby to his son on the Cosby show: http://www.imom.com/mom-life/mom-management/money-a-lesson-in-finances-from-bill-cosby/