Budget is a simple 5-letter word. In reality though it's complicated. Even to the adults. How much more to the kids. How do parents like me then introduce the idea of budgeting to the kids? I would say it depends on the age of the kids. Also, in their orientation growing up in the family. As for me, these simple steps helped me a lot to educate my daughters about money and budgeting.
"How do you budget for your family?" That is the usual question me and my friends asked from each other every time we had a chance to meet. Yes, teachers also do the budget. I used to teach Basic Economics at the University. And our senior colleagues shared with us their budgeting experiences. Why do we need to budget?