7 fun activities to hone your child’s budgeting skills

You’ve learned about the 7 budgeting superpowers, and now it’s time to help your kid put them to use. Not sure where to get started?

 

Here are some activities to help you turn these abstract concepts into sustainable financial habits. You can adapt them for your child’s age. Each activity is designed to help your child develop attitudes and behaviours that will help them manage their money.

 

01. The financial adventure log

Objective: Understand where your money comes from and where it goes

 

Help your child make a log to track their “financial adventures,” with sections for money coming in and money going out. Have your child draw or write down their income and expenses in each section. This way, they can see where their money is going.

 

How to make it age appropriate

Little ones

 

Make it bright and eye-catching with lots of drawings, stickers and pictures they can glue in. Use an arrow in one direction to show money coming in and an arrow in the opposite direction to show money going out.

 

Older kids

 

Make a table with columns for the date, description, amount and balance. Your child can categorize their expenses (hobbies, gifts, goals) and do a quick review at the end of each month to see which categories they’re spending their money in.

 

What you’ll need

• Age-appropriate notebook
• Pens, pencils, coloured pencils
• Stickers
• Magazines (to cut out pictures for your little ones)

 

02. The goal-o-meter

Objective: Reach more ambitious goals

 

Help your child make a goal-o-meter to track their progress toward their savings goal. Draw a large thermometer on cardboard, add hatch marks to track their savings progress, and put a picture or drawing of their goal on top. Your child can colour in a new section each time they save more money towards their goal.

 

How to make it age appropriate

Little ones

 

Make the goal-o-meter simple and choose a goal that’s easily attainable, so they only have to colour in a few sections.

 

Older kids

 

Create a goal-o-meter with more sections to colour, for a more ambitious goal. You can even include dates and percentages to introduce the concept of planning.

 

What you’ll need

• Large piece of cardboard or sheet of paper
• Pens, felt-tip markers, highlighters, coloured pencils
• Ruler
• Image of the goal (drawing or cut-out)

 

03. The “rainy day” piggy bank

Objective: Prepare for the unexpected

 

Create a special “rainy day” piggy bank that’s separate from your child’s regular one. Encourage them to put a little bit in every time they get some money. It’s reserved for unforeseen situations and unexpected expenses. Curveballs are a bit less common for children, so keep your eyes peeled for opportunities to show them why it’s important to save up for the unexpected. It could be anything from replacing something they lose to repairing a friend’s toy that they broke.

 

How to make it age appropriate

Little ones

 

Get a transparent piggy bank so they can watch their money accumulate. Explain it in simple terms: “This money is for problems you don’t see coming.”

 

Older kids

 

Make a logbook to go along with the piggy bank so your kid can record deposits and withdrawals and indicate what they were used for. It will help your child learn about the different types of unexpected events that can occur.

 

What you’ll need

• Piggy bank or other container
• “Rainy day” label
• Small notebook for older kids

 

04. The “spend smart” challenge

Objective: Make informed decisions

 

Go to the grocery store or toy store. Give your child a budget that makes sense for their age (and your bottom line) and let them decide how to spend it. Ask your child questions to help guide their choices: “Would you rather get this more expensive toy, or those two smaller toys for the same price?” Or, “Would you rather buy this snack now, or save up for something bigger later?”

 

How to make it age appropriate

Little ones

 

Offer clear choices between two options and keep the budget small—a few dollars is fine. Help your child compare prices and think about the concept of value.

 

Older kids

 

Offer a slightly larger budget and let your child pick from multiple options. Introduce concepts like value for money, durability and brand comparison.

 

What you’ll need

• Dollars and coins for the chosen budget
• Your walking shoes (to get to the store!)

 

05. The patience bonus

Objective: Avoid impulse buying

  

Set up a savings system with a “patience bonus.” When your child wants to buy something, offer them a bonus in exchange for waiting a predetermined period of time. For example, you could offer them $4 to wait a month before making the purchase.

 

It helps your child see the real benefits of being patient and teaches them that the urge to buy something often fades with time—a great way to understand the difference between what we want and what we actually need.

 

How to make it age appropriate

Little ones

 

Make the waiting period one week and make the bonus tangible, like coins the child can put in their piggy bank. Colour in each waiting day on a calendar and ask if they still want the object as badly at the end.

 

Older kids

 

Make the waiting period one month and explain the concept of interest and how we earn it. At the end, ask “Do you still want to buy it? If not, you not only earned the bonus, but you also saved all the money you would have spent!”

 

What you’ll need

• Bonus money
• Calendar

 

06. A plan for giving back

Objective: Practice planning to give back

 

Encourage your child to plan acts of generosity to help others. Come up with an idea, like collecting school supplies for children in need or preparing meals for a family who could use a hand. Discuss the importance of giving back and including it in your budget, so your child can learn to be generous without putting themselves in financial difficulty.

 

How to make it age appropriate

Little ones

 

Use stories or drawings to explain the concept of generosity. Make a generosity box and encourage your child to put in a little bit of money every so often, along with toys they’d like to give away.

 

Older kids

 

Encourage your child to choose a cause they care about, then include donations for that cause in their savings plan. Discuss the different ways of giving back and the impact their actions have.

 

What you’ll need

• Generosity box or piggy bank
• Notebook for writing down the plan
• Pens, coloured pencils

 

07. The diary of financial wins

Objective: Gain self-confidence

 

Help your child make a diary all about their financial literacy. Take a few minutes to note every positive financial decision they make, whether big or small:

• What was the situation?
• What decision did they make?
• And above all, how did they feel afterwards?

 

This exercise in reflection helps develop self-awareness and encourages them to associate positive emotions with responsible financial behaviours.

 

How to make it age appropriate

Little ones

 

Make a colourful diary where your child can draw their “moments of financial pride.” Draw a different financial adventure on each page. For example, “The toy I saved up for,” “My first $100 in savings,” etc.

 

Older kids

 

Encourage them to keep an actual diary where they write about their successes, the challenges they encounter and their lessons learned. Encourage them to reflect on the decision-making process rather than the outcome.

 

What you’ll need

• Notebook
• Pens, coloured pencils

 

Help your child hone their financial superpowers: Activities to improve their budgeting skills

Making these fun and educational activities part of your child’s daily life will give them the tools they need to develop strong budgeting skills. Each activity is designed to hone one of the seven financial superpowers, from self-confidence to understanding where their money comes from and where it goes.

 

Helping your child learn these valuable lessons will make them a true superhero of financial management who’s able to make informed choices, reach ambitious goals, prepare for the unexpected, avoid impulse buying and more.

 

Every child is unique, and these activities can be adapted to fit their age and interests. Cultivating these skills from an early age prepares your child to manage their personal finances effectively.

 

Have fun while helping them polish their financial superpowers. Start today and watch the magic unfold!

 

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To take your child’s financial learning even further, check out the School Caisse app. It has fun games, challenges, educational tools and videos to help kids continue sharpening their financial superpowers!