Keeping current and detailed notes serves as a complete record of finances. A balance sheet shows financial data for a specific period, such as a month, a quarter, or a year. A general ledger holds balance sheets and other pieces of someone’s complete financial position, such as documentation about debts, investment interest, and assets (items owned).
Keeping a ledger can teach kids basic accounting skills and a bit of economics. It is actually a fun and practical math activity for kids who love numbers.
For beginners a simple 8-column blank ledger book to keep track of how much money he/she had earned, and how much they had to spend, save or give. You will quickly notice that kids love to write in it, they will work even harder to earn money just so they can write it down!
Here are three fun ledger books for kids:
The financial learning ledger for kid
Even before she learned how to write, designer Stephanie Johnson understood the value of a dollar. Her parents set her up with a ledger early on to keep track of her $1 a week allowance, a tool that helped her develop accountability and good money habits that she’s carried with her ever since. Inspired by her own junior bank book, she developed this kid-friendly financial log as practical (even fun!) way to help your mini magnate allocate their earnings and see how their allowance adds up over time. Made in Battle Creek, Michigan.
Printable bank ledger for kids:
Debbie Brown from Forms & Things free download decided to help children learn about money with this printable bank ledger for kids, decorated with coins, bills and a piggy bank. Free to download and print
Simple Checkbook Ledger Free App:
Created By Gary Streck , Balance your checkbook on your Android smartphone or tablet using a familiar interface that looks like a checkbook register. Here’s a list of all the features this app offers:
- Keeps track of multiple accounts with password protection so that everyone of your children can have their checkbook ledger, and you can keep track of their money management habits. (Password can be turned off in account preferences)
- Saves a list of descriptions/payees so that after you type something once you only need to click on it later.
- Click on a transaction to mark it as cleared (it will be highlighted)
- Several options can be changed in preferences to tailor the app to your kids likings.