ArreniteBudgeting pocket money
Read together
A budget is a plan for money: what comes in, what goes out.
A simple plan has three jars: spend, save and give.
Do it
- Take a week of pocket money, real or pretend. Divide it among three jars or envelopes.
- Choose something to save for and work out how many weeks it will take.
- Choose how to give: to church, a food bank or a friend in need.
- Write down what you spent for a month.
Talk about it
- How many weeks until you can buy it?
- Where will you give?
For the grown-up
Spend-save-give is a common family teaching tool. Do not share bank details with children online. Many families tithe or give a set share, as their tradition teaches. Adjust to your family's means.
Where this comes from
- Consumer Financial Protection Bureau, Money as You Grow: financial habits for children
- Beverly, S. G., and Burkhalter, E. K., “Improving the Financial Futures of Children”, Center for Social Development, Washington University (2005)
Written with AI assistance and checked against the sources listed. Please read it before sharing it with a child.