Teaching your kids to budget The tooth fairy, chores, grandma and grandpa, friends, family and a lot of other people will give your child money from the day they are born. We use piggy banks and envelopes and even have a savings account for each of our kids. This helps them understand the importance of why they don't get to run to the store and just spend it. Teaching your kids to budget can be a tough and long process - but it will be well worth the time spent as they get older. Kids don't o ...