Associated Press
- Tim Sheehan is the co-founder and CEO of Greenlight, a debit card for kids that their parents can manage.
- He says that back-to-school shopping season is a great way to teach children about budgeting and money by letting them take the lead.
- Create clear budgets with kids, help them assess what they already have, help them bargain shop, and have them handle checkout.
- Visit Business Insider's homepage for more stories.
It's that time of year again - back-to-school season is in full force, and families around the country are flocking to stores with their shopping lists in hand. According to the National Retail Federation, families with children in elementary school through high school will spend a record amount of money this year.
Back-to-school shopping presents a great opportunity to teach kids about money and the importance of budgeting. Putting kids in the driver's seat (with some adult supervision, of course!) can help instill ownership and prompt first-hand lessons in trade-off decisions.