The boys want to learn to budget.  They want to learn about money.  They wanted to talk about saving, spending, tithing, and credit vs. debit.

This is a lot.  It is complicated by the fact the boys really struggle in math.  So if you say 10% it honestly means nothing to them.  I decided we would start with the 80/10/10 rule of money. 

I explained how the 80/10/10 concept means you save 10%, you tithe 10%, and you have the remainder to meet your financial obligations and to spend as you wish.  Since they are kids they don't really have financial obligations.

I asked the following question...if I gave them 20 dollars how would the money be divided up using the 80/10/10 rule.  Middle Boy said he would give 10 dollars to savings and 10 dollars to church.  Younger Boy was going to do five dollars to savings and 10 dollars to church.  Both wondered how much they would have left to themselves.  I don't know where the disconnect is.  I don't know if it is a complete lack of understanding of percentages, but I suspect it might be.

I think this exercise is going to be a lesson in math almost more than money, because it is SO HARD to manage your money if you have NO IDEA how math works.

As soon as the boys are no longer wards of the state we are going to get savings accounts so they can actually watch their money grow.

Prayers for wisdom for me in how to best explain this.  Prayers for understanding for the boys. 

Praises for the ability to be able to teach them this important life skill.