7 Creative (and Surprisingly Fun!) Ways to Teach Children About Budgeting

Let’s be honest – the word budgeting doesn’t exactly scream fun, does it? It might sound more like spreadsheets and stiff chats than something you’d bring up over the breakfast table with your 7-year-old. But teaching children about money, especially how to manage it, is one of the best life skills you can give them - and it doesn’t have to be boring.

So if you’ve got a curious primary schooler and you want to start planting the seeds of money wisdom early (without putting them to sleep), we’ve got you covered. Here are some quick, easy and fun ways to introduce budgeting – with minimal faff for you and maximum fun for them.

1. Pocket money with a twist

A classic with a clever twist. Give your child three jars (or old jam jars with cute labels – they’ll love decorating them):

• Spend – for small treats like sweets or stickers.
• Save – for bigger goals like a new toy or book.
• Share – for giving to a cause they care about (like the school pet fund or a local animal shelter).

It helps children see where their money’s going – and gets them thinking about balance. Want to level it up? Offer a tiny "interest" bonus each week to encourage saving. Yes, you become the Bank of Mum or Dad – but it's worth it.

2. The mini budget challenge

Next time you’re heading to the shop, give your child a mini challenge:
“You’ve got £3 to buy snacks for the week – what would you choose?”
They’ll need to make decisions: do they blow it all on chocolate or find ways to stretch their money across a few items?

This teaches budgeting, price awareness, and how to make choices based on value – all in the crisp aisle. And yes, they may become very interested in “price per 100g” labels, but that’s a win in our book.

3. Host a family toy sale

This one’s a rainy-day gem. Grab a handful of their old toys, set up “shop” in the living room, and hand out a fixed amount of Monopoly money to each family member. Let your child be the shopkeeper and the customer.

They’ll learn how pricing works, what things are “worth,” and how to make trade-offs when they’ve only got a set amount to spend. Bonus: it’s a brilliant way to clear out the toy box!

4. Create a “wants vs needs” treasure hunt

Here’s a playful twist on a vital budgeting lesson: the difference between wants and needs.

Write down a mix of items on cards – e.g. “school shoes,” “ice cream,” “water,” “sparkly unicorn pen.” Hide them around the house. When they find each one, they have to decide if it’s a “want” or a “need.”

Great way to open up conversations (cue: “but I need the unicorn pen!”), and helps them understand how budgets work in the real world.

5. Let them be the birthday party planner

Got a birthday or family celebration coming up? Hand over a mini “budget” and let your child help plan part of the party – like decorations or the snack table.

“I’ve got £10 – should I spend it on balloons, or on party hats and cupcakes?”
This gives them the thrill of decision-making and a real-life sense of what budgeting looks like when it matters.

6. Try a “no spend day” adventure

Pick a Saturday and turn it into a “No Spend Day” game. The challenge? Have as much fun as possible without spending a single penny. Bake using what’s already in the cupboard, go on a scavenger hunt, make DIY board games, or visit a free local museum.

Afterwards, talk about how much fun you had without spending money – it’s a sneaky way to teach children that not every good time has to come with a price tag.

7. Invent a family “coin counter” job

If your family has a change jar, let your child become the “official coin counter.” Once a month, they count up the coins and log the total. You can even throw in simple maths:
“If we save this much each month, how much will we have by Christmas?”

Add a little badge or certificate – children love a fancy title – and you’ve got budgeting and numeracy in one tidy little activity.

Teaching your child about budgeting doesn’t mean sitting them down with a calculator and a lecture. It’s about weaving small, meaningful lessons into everyday life – and making it playful along the way.

The goal isn’t to turn them into mini accountants (unless they’re into that sort of thing). It’s to help them grow up understanding that money is a tool, not a mystery – and that they’re capable of using it wisely, even now.