What children will learn
- Set a savings goal and work out how long it will take to reach
- Tell the difference between needs and wants
- Use division and multiplication with money
You'll need
- Paper and pencil
- A calculator (optional)
- A jar or envelope for savings (optional)
How to do it
- Choose a goal and find its price — for example a book, a board game or a day out costing $40.
- List the money you expect to receive each week, such as pocket money or doing extra jobs at home.
- Decide how much to save each week. Divide the goal by the weekly amount to find how many weeks it will take ($40 ÷ $5 = 8 weeks).
- Draw a progress thermometer or bar split into equal parts, one for each week, and colour a part each time you save.
- Talk through a 'temptation test': if you spend $3 on something else this week, how much longer will the goal take?
Make it easier
Use a small goal under $10 and real coins to count the savings each week.
Make it harder
Split money into three jars — spend, save and give — and work out what percentage goes into each.
Parent tip: Reaching a real goal is powerful. Consider offering a small 'matching' bonus to show how saving can grow faster with a little help.
Fantastic work! Every little step helps you grow.