Teaching kids about money doesn’t have to mean sitting them down with a spreadsheet. Research from MoneySmart shows children begin forming lifelong financial habits around age seven, which makes primary school the perfect window for playful learning. The trick is wrapping those lessons in games that feel nothing like a lecture. Here’s what you actually need to know.
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This article is general information only and does not constitute professional advice. For your specific situation, consult a qualified professional.
These games work because they turn abstract numbers into something kids can see, touch, and race against. A jar that fills with coins feels different from a number on a screen. A chart that gets coloured in each week builds momentum that a lecture never could. And the best part? Most of these activities cost nothing to set up.
If you’re looking for ways to stretch your own savings further while teaching these habits, switching to generic brands can free up cash that goes straight into those family savings jars.
The central idea here is financial literacy through play — using hands-on activities to build money skills without pressure.
What I tend to notice is that the kids who handle pocket money early — even small amounts — often make wiser choices as teens. The games just give them a safe space to practise before the stakes get real.
What happens when money lessons don’t stick
Kids who never learn to manage small amounts of money often struggle when they start handling larger sums. A teenager with a part-time job and no budgeting experience might blow their first paycheck on impulse buys, then wonder where it went. That’s not a character flaw — it’s a skill gap.
The research backs this up. Children who budget pocket money early tend to make better financial decisions as teens, according to MoneySmart. The difference isn’t about intelligence. It’s about having a framework for thinking about money before the decisions carry real consequences.
Consider what happens without that framework. A 12-year-old who gets $10 a week with no guidance on splitting it might spend the whole lot on lollies by Tuesday. That same kid, given a simple three-jar system and a few weeks of practice, starts asking questions like “Should I save for the bigger toy or buy the small one now?” That shift in thinking is exactly what the games are designed to build.
The gap shows up in other ways too. Teens who track their digital transactions weekly develop healthier spending habits, notes a Commonwealth Bank youth advisor. But that habit has to start somewhere. A 15-year-old who’s never had to log what they spend won’t suddenly start doing it when they open a bank account. The groundwork gets laid earlier, with jars and charts and pretend shops.
If you want to reinforce these lessons at home, building smart spending habits alongside your kids can model the behaviour you’re trying to teach.
Where most parents get it wrong
Treating money as a grown-up topic
A lot of parents shield kids from money conversations, thinking they’ll learn later. But later often means after bad habits have already formed. Kids pick up attitudes about spending and saving from what they observe, whether you explain it or not. The fix is simple: let them see you making small money decisions and talk through your thinking. “I’m choosing the store brand pasta so we can put the extra dollar toward the weekend trip” teaches more than any lecture.
Giving money without structure
Handing over pocket money with no system for dividing it teaches very little. Kids treat it as spending money because that’s the only option they see. The three-jar approach — Save, Spend, Share — gives them a framework. A common starting split is 50% spend, 40% save, 10% share, though families adjust it to fit their values. The key is that every time money comes in, it gets divided. That single habit builds more financial awareness than the dollar amount ever could.
Making saving feel like punishment
If saving means “you can’t have what you want,” kids will resist it. The games flip that by making saving itself the reward. A colour-in savings chart where each block represents progress toward a goal turns delayed gratification into something satisfying. The savings chart for kids you can find online works the same way — visual progress that makes the act of saving feel like winning.
Missing the chance to model trade-offs
Kids learn more from what you do than what you say. If you always buy the cheapest option without explaining why, or always splurge without thinking, they absorb those patterns. The fix isn’t to become a perfect financial role model overnight. It’s to narrate your choices occasionally. “I’m skipping takeaway this week because I’m saving for that new kitchen gadget” shows trade-off thinking in action. That’s a lesson no game can replace.
How to set up the games that actually teach saving
The three-jar system that builds budgeting instincts
This is the foundation game, and it costs nothing. Find three clear jars — glass or plastic, so kids can see the money grow. Label them Save, Spend, and Share. Decorate them together with stickers or markers so each jar feels personal.
Every time your child receives money — pocket money, birthday cash, coins found in the couch — they divide it among the three jars. The 50/40/10 split is a common starting point, but you can adjust it. Some families do 60/30/10 or 40/40/20 depending on their goals.
The magic happens when the Save jar starts filling up. Kids see progress physically. They start asking when they can spend it, which opens conversations about goals. You can incentivise by matching their savings — if they save $5, you add $5. That’s the same principle as employer 401k matching, just with jars instead of a retirement account.
The family savings tracker for shared goals
Pick something the whole family wants — a weekend away, a new trampoline, a bigger television. Set a target amount and break it into smaller chunks. Then design a visual tracker together. A thermometer drawn on poster board works well. So does a path with milestones, or a piggy bank outline where each section gets coloured in as money accumulates.
Set rules for how money goes in. Regular deposits from allowances or chore earnings. Matching contributions from parents. Bonus amounts for family efforts like a no-spend weekend or cooking at home instead of ordering in. Track progress together weekly. Celebrate each milestone with something small — a picnic at the park, a family movie night.
When you hit the goal, use the money for what you agreed on. Then talk about how it felt to work toward something together. That reflection is where the real learning lands.
The budget buffet for hands-on decision making
Set up a table with items priced with sticky notes — snacks, small toys, craft supplies, maybe a few pricier items they’d really want. Give each child a limited budget, say $10 in play money or real coins. They can spend it however they want, but once it’s gone, it’s gone.
Offer a savings incentive: if they save $2 of their budget, they get extra spending money in the next round. After the shopping, talk through their choices. Did they wish they’d saved for something better? Were they happy with what they bought? The discussion matters more than the outcome.
This game teaches price awareness, prioritisation, and delayed gratification in about 20 minutes. You can run it with items you already own, which keeps the cost at zero.
Coin challenges that turn saving into a daily habit
The $1-a-day jar challenge is about as simple as it gets. Drop a dollar into a jar every day. In a month, you’ve got $30. In a year, $365. The lesson isn’t the amount — it’s the habit of consistent saving.
The Save the Change challenge works similarly. Every time you get change from a purchase, drop it in the jar. Kids start noticing how often they get coins back, and those small amounts add up surprisingly fast.
For a more competitive twist, try the coin collecting race. Everyone searches the house, car, and couch cushions for loose coins. Whoever finds the most in a set time wins a small prize. It teaches that money can be found in unexpected places, and that saving can feel like a treasure hunt.
If you want to automate your own savings while teaching these habits, setting up automatic transfers can free up mental energy for the hands-on lessons with your kids.
The 52-week challenge for older kids
This one works best for kids aged 10 and up who can stick with a long-term goal. Save money once a week for 52 weeks. Start small — $1 in week one, $2 in week two, all the way up to $52 in week 52. By the end, they’ve saved $1,378.
The challenge teaches consistency and delayed gratification on a scale younger games don’t reach. It also introduces the idea that small, regular actions produce big results over time — a concept that applies to saving, investing, and pretty much every financial goal they’ll ever have.
You can adjust the amounts to fit your budget. The structure matters more than the numbers. A 52-week challenge at 50 cents a week still builds the habit, even if the final total is smaller.
Frequently asked questions about teaching kids to save
What age should I start teaching my child about money? ▾
How much pocket money should I give? ▾
Should I link pocket money to chores? ▾
What if my child spends all their money immediately? ▾
How do I teach saving without using cash? ▾
What’s the best way to introduce the Share jar? ▾
Start the games this week, not next year
The research is clear: kids who learn money skills through play develop better habits than those who don’t. And the window starts closing earlier than most parents realise. You don’t need a curriculum or a budget. You need three jars, some sticky notes, and 20 minutes to set up a pretend shop. The games work because they’re fun, and the lessons stick because they’re lived.
Remember: this article is general information only. For advice on your specific situation, speak to a qualified professional.
If this was useful, you might also want to read Simple Tips for Building Financial Security in Australia.
Sources and Further Reading
Save More with Simple Budgeting Tips for Australians — Practical budgeting strategies that complement the hands-on money lessons you’re teaching your kids.
Savings Showdown: Comparing the Best Bank Accounts for Aussie Savers — Compare accounts that could work for youth savers once your kids are ready for real bank accounts.
MoneySmart (2024). Teaching kids about money. 🔗
Suncorp Bank (2024). Activities to teach kids about saving. 🔗
Money Bliss (2024). Fun savings challenges to teach kids about money. 🔗
Big School Kids (2024). Teaching money smarts: age-appropriate financial literacy games. 🔗
