Kids can budget, too! It’s never too early to start teaching them about money. This printable DIY cash envelope system for kids is a great place to start. It’s cute, functional, and easy to use – which is exactly when you need when you’re getting kids learning about money.
Printable DIY Cash Envelope System for Kids
When can kids start learning to budget?
Kids can start learning to budget as soon as you are able to teach them! One of the reasons we give our kids an allowance is specifically for this reason – they are responsible for spending and/or saving their own money, and I believe this teaches them the value of a dollar (both kids are notorious for experiencing buyer’s remorse – and I think this is a GOOD lesson to learn as a child!). You can read about how much allowance we give them here.
How can kids get involved with the budget?
This budgeting worksheet was designed just for kids. It’s simple and straight-forward. Kids will like filling it in every month – I tried to keep it as non-intimidating as possible, while also making it super useful (and cute!).
We also include kids in some of our family budgeting talk. We want them to understand how much things cost and how we manage our money.
How do I use cash envelopes?
For a full explanation of how to use cash envelopes, start here. This post goes into a lot of detail about how to set them up and use them each month. I’ve also got some ideas for how to use cash envelopes with online payments (a very common question!) here.
But let’s keep it super simple for kids.
Have your child create a separate envelope for every category they want to save for. Some examples might be college, video games, charity, a pet they want to buy (as you can see, my kids want a bearded dragon), a special toy, savings, etc. There are no rules about what categories they need – my recommendation is to help the child set these up based on your family’s values.
Every time your child receives money to put in the envelope, they should deposit the cash and then write down the amount they deposited on the envelope’s ledger.
Every time they take money out, they also need to record their withdrawal as well as the new balance. This hands-on approach to money really helps kids to understand saving and spending.
Here’s what you need to make your own DIY cash envelopes for kids:
- Envelopes (any will do, but ideally you should be able to fit your bills into the envelope without having to fold them – the envelopes in these pictures are size #6 3/4)
- Sticker paper (full-sheet labels work great, and you can get them at Walmart or Target!)
- Scissors or a paper cutter
- Cash envelope downloads (at the bottom of this post)
Let the kids help make them! My littlest had a lot of fun putting the stickers on her envelope.
And here are some other budgeting resources that you might find helpful:
- Budgeting Worksheet for kids
- 60 Day Budgeting Challenge – this is *free* challenge that I run through email and an optional Facebook group. You’ll go from no budget (or one that you’re struggling with!) to a functional budget that you can live with and love in 60 days.
- How to Use Cash Envelopes – if you’re new to cash envelopes, start here!
- Spend Well Budgeting System – if you just want to buy your own, grab one here. Use code BUDGETANDTHEBLOG01 for a 15% discount. 🙂
- Our Debt-Free Story – we sold our house to pay off debt. Here’s how that all went down!
- How to Stay Out of Debt this Christmas – no matter what month it is right now, go read this post!
- Budget Planner – the Budget Planner pictured in this post is only $10! 🙂
Download your printable DIY cash envelope system for kids below. If you have any trouble with the downloads, you can email me at [email protected] and I will send you the files.
If you share on social, please tag @carrieelleblog on FB or IG – I love to see my printables in use!
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