- Do you feel like every time you turn around, your kids are asking you for money? 
(car horn honks)
 
- Mom, they're here. I need the $5! 
- It's on the table by the door. Have fun skating. Be careful!

- It's only $3.95. Please? 
- Okay, okay.

- I need $10, remember? 
- No, I do not remember. 
- Narrator: There are other ways to deal with situations like these that can help both you and your kids, ways that can avoid a lot of the pestering.

Actually giving kids their own money to spend is one way to help them understand what things cost, and lets them practice making decisions about how to spend their money. 
- Here's the deal. From now on, I'll be giving you $20 every month. And you get to decide how to spend it. 
- Every month? Cool! 
- Now, instead of asking me for money every time you want something, you'll be the one to decide if you can afford it. Can you handle that? 
- Yes! Totally! 
- Okay, here you go. 
- Narrator: With this plan, you still pay for all your child's essential needs: housing, meals, clothing, and sometimes even treats. But you don't have to say yes or no to every sudden whim. 
- This is what we call budgeting. 
- Duh! I have heard of budgeting, mom! 
- Well this is how it's gonna work in this house. First, make a list of everything you might want to do or get this month. 
- Hmm, movie... 
- Narrator: When you give your kids control over money, they will get hands-on experience budgeting and making decisions about how to use it responsibly. 
- Or that bracelet. 
- Last week, you were begging for music. Don't you want that on your list? 
- Oh, yeah. 
- Now put down how much each of those will cost. Then you can start to figure out which you really want, and which you probably can't afford.

- So many cool ideas we could do. 
(car horn honks)
 
- Oh, I have to go. Bye! See you after the game. 
- Okay, have fun!

- Narrator: And what happens if their first attempts at budgeting aren't entirely successful? 
- Can I please have some money to go to a movie with Nyika and Aidan? 
- You know, that's supposed to come out of your budget. How are you doing this month? 
- I guess I'm kind of out. 
- Wow, that's gotta hurt. 
- Can't I just have the money this time? Please? 
- You know that's not the deal. The deal was you get $20 a month and manage your own budget. I think next week is when you'll get your next $20. 
- But Nyika and Aidan! 
- I know it's tough. But that's what you agreed to. You know, it's your job to manage that budget. Maybe this time you could think about having your girlfriends over for a movie. 
- Narrator: Sooner or later, everyone makes mistakes managing their money, but preferably not big mistakes.

Letting your kids learn from their mistakes early in life, before they're out on their own, will go a long way to help them make the right choices and be financially responsible, and avoid those big mistakes.