30-year-old self-made millionaire: This is how to make your family smarter about money

Make your family savvier about money with these fun ideas

Self-made millionaire Kyle Taylor knows that you have to make sticking to a budget enjoyable.

Taylor, 30, is founder and CEO of The Penny Hoarder, a site that offers  personal finance advice to millions of readers. He's learned to turn reviewing receipts into a fun "date night" — where he enjoys a nice meal and a glass of wine — to ensure that he'll actually do it.

If you want to stick to the even more difficult task of budgeting for a family, Taylor says having fun is crucial.

"Don't make budgeting a painful task every day," Taylor tells CNBC. "Make it fun. It's a once a week thing where you sit down with your family for an hour."

Kyle Taylor, founder and CEO of The Penny Hoarder

For example, Taylor recommends reviewing weekly spending with your children during dinner, followed by an evening of board games.

Think of ways to encourage your kids to save money as well, such as rewarding them with extra time at the playground in exchange for forgoing a snack at the movies. 

Make it fun. It's a once a week thing where you sit down with your family for an hour.
Kyle Taylor
founder and CEO of The Penny Hoarder

Taylor's parents used these tactics when he was a child. He and his sister would make a game of checking the electricity meter, trying to see if they could save on energy costs.

Other times, they accompanied his mother when she worked as a "mystery shopper." She would take the family to a restaurant where they would eat for free in exchange for her review of the service and the food.

"Don't put yourself in a situation where you are not looking forward to looking at your budget," he says, "otherwise it's too easy to skip it."

Check out the formula Taylor uses to save money

Use this simple rule to structure your savings