Spending is one of the most important aspects of financial literacy children should learn.

Spending is one of the most important aspects of financial literacy children should learn.

Teaching young children the basics of spending can be incredibly important to help them understand that the things we buy cost money and that money isn’t endless. Instead of simply buying everything they want, they need to plan ahead to determine if they can afford what they want.

Here are some activities to help teach kids spending basics from our partners at Banzai https://banzai.org

Spending Simulation: For younger kids, you can simulate the experience of spending to teach them about tradeoffs. Give your child some money (maybe $5) and set up a small, at-home store. The store could include one item that will cost the whole $5, a few between $2 and $3, and multiple small things for $1 or less. These items can be small toys, treats, or even “coupons” for extra time playing games or a movie night. The point isn’t what they’re buying, but that the child recognizes that they can’t get everything—they’ll have to prioritize what they want most. Repeat the store every so often, perhaps with money they earn instead, to see how their understanding grows. Perhaps you agree on a reward when certain milestones are met.

Expense Tracking: For older kids, help them track all of their spending for a week or month. They can do it on a piece of paper, a spreadsheet, or even an app. At the end of the tracking period, have them evaluate all of their choices. Did they spend more than they expected? Less? What would they like to change? Help them create a target for the next period and suggest ways they can improve. Repeat the process to see what changes.

Property Tax Exemption for Senior Citizens in Colorado

Property Tax Exemption for Senior Citizens in Colorado

The senior property tax exemption is available to senior citizens and the surviving spouses of senior citizens. The state reimburses the local governments for the loss in revenue. When the State of Colorado’s budget allows, 50 percent of the first $200,000 of actual value of the qualified applicant’s primary residence is exempted.

For the purpose of the exemption, a primary residence is the place where an individual is registered to vote.

An applicant or married couple may apply for the exemption on only one property. Married couples and individuals who apply for this exemption and/or the disabled veteran exemption on multiple properties will be denied the exemption on each property. Two individuals who are legally married, and who own more than one piece of residential real property, shall be deemed to occupy the same primary residence and may claim no more than one exemption.

If an applicant owns multiple-dwelling units in which the applicant occupies one of the units, an exemption will be allowed only with respect to the dwelling unit that the applicant occupies as his or her primary residence.

No more than one exemption per tax year shall be allowed for a residential property, even if one or more of the owner-occupiers qualify for both the senior exemption and the disabled veteran exemption.

Any applicant who attempts to claim exemption on more than one property, knowingly provides false information on an exemption application, or fails to provide notice to the county assessor of any change in the ownership or occupancy of a property within 60 days of such occurrence will be subject to the penalties prescribed by law.

For more information and requirements:

Click Here

Direct links

Senior Long Form Instructions 2024

Senior Citizen Long Form Application 2024

Senior Short Form Instructions 2024

Senior Citizen Short Form Application 2024