Budgeting means handling how much money comes in and goes out. It's about planning what to spend, save, and invest to reach money goals. By keeping an eye on spending and making changes when needed, people can stay financially stable and use their money wisely for a better future.

• Budgeting is the process of creating a plan to manage income and expenses within a defined period, typically monthly. It involves estimating all sources of future income, and allocating funds to cover expenses such as housing, utilities, groceries, transportation, debt payments, savings, and entertainment.

• Budgeting helps individuals track their financial health, identify areas for improvement, and make informed decisions to ensure that spending aligns with financial goals and priorities, while also avoiding overspending and accumulating debt.

• By monitoring actual spending against the budget, adjustments can be made to achieve financial stability and long-term prosperity. Effective budgeting requires discipline, careful planning, and periodic review to adapt to changing circumstances and priorities.

• Involve kids in the process of planning meals and grocery shopping. Show them how to compare prices or explain why certain products are chosen over others based on budget constraints.
• Utilize games, such as setting up a mock store where they can "purchase" items within a budget or creating a savings challenge with rewards for reaching specific goals. Incorporating visuals, like charts or graphs, can also help children visualize their progress and understand the concept of saving and spending.
• Read ‘Alexander, Who Used to be Rich Last Sunday’ to find out what Alexander learns about self-control after he overspends.