Create a Slush Fund - How to Get the Whole Family Involved

A little extra money is always a good thing.

When I was a kid, I remember my Dad getting frustrated by my continued requests for things - he would ignore me for awhile, and then would say - so who's going to pay for that?

With summer holidays soon upon us, parents are feeling the burden of their children's wants and desires for summer, but does it have to be just Mum and Dad paying for everything?

Families who want to help kids understand the value of a loonie or toonie can make a plan to help everyone lean how to save money, and create a family slush fund.So how to save money as a family? Set some rules and follow through with these five tips:

1. Learn to say no. It's not easy, it's not fun, but just because you want something, doesn't mean you need something. It's a good lesson for the entire family.

2. Set up a money jar - make it a visible spot to save the money - and count the savings every day. So instead of buying lunch or getting a popsicle, the money goes into the jar.

3. Create a goal - start with something small like going to the movies or a family fun day at a local water park to focus everyone. Asking the kids to donate their allowance and for you to put aside your change teaches everyone how much it costs and what it takes to do it.

4. Assign jobs - make chores and actions worth money, such as walking the dog or helping with yard work. This will give kids a focus on accomplishing a task and what it could be worth for something fun.

5. Quality time - remind family members that fun doesn't have to cost a penny. Heading to the park or going for a bike ride can be just as fun as spending $$$ on a day at the amusement park.