💰 Ages 8–12: How to Save and Budget

💡  Money Explorers. How to Save & Budget

Now that you know what money is, let’s take it a step further and learn two very important money skills: saving and budgeting.


These skills are your secret weapons to help you make smart decisions, reach your goals, and feel confident with your cash — now and in the future.

💸  What Does It Mean to Save Money?

Saving means not spending all your money right away  — instead, you put some of it aside for later.


You might be saving for:


  • A cool new toy or video game
  • A birthday present for someone special
  • A school excursion
  • Something big, like a new bike!


When you save, you're saying:  👉 “I don’t need to spend this now. I have a goal!”

A 3d illustration of a growing graph with a bag of money and coins.

🐷  Ways to Start Saving

Even if you only get a small amount of pocket money or earn money from chores, saving can start   right now.


Here’s how:


  • Get a money box or piggy bank: Keep coins and notes in one place so they don’t disappear.


  • Set a savings goal: Choose something you want to save for and write down how much it costs.


  • Track your progress: Each week, check how much you’ve saved. You’re getting closer!


  • Open a kids’ bank account: Ask a parent or carer to help you open a savings account just for you. Some Aussie banks offer great accounts for kids that even earn interest!


📊  What is a Budget?

A budget is a plan for your money.


It helps you decide how much to:


  • Spend now
  • Save for later
  • Give to others


Think of a budget like a treasure map.


It tells your money where to go, so you don’t get lost or spend it all too fast.


🎯  The 3-Bucket Rule for Kids

Here’s a simple way to budget your money, called the 3-Bucket Rule.


Each time you get money, divide it into three parts:

Bucket What it's for Example
Save For future goals Saving for a new scooter
Spend For small things now Buying a treat at the canteen
Give To help others Donating to a charity or school fundraiser

Let’s say you earn $10 from chores.


You could:


  • Save $5
  • Spend $3
  • Give $2


This teaches you to balance fun today with smart planning for tomorrow.


Win-win!

📌 Top Tips for Smart Savers

  • Set a clear goal – Know what you’re saving for and how much you need.


  • Use a savings tracker – Colour in a chart or use stickers as your money grows.


  • Think before you spend – Ask, “Do I really need this, or should I save a bit more?”


  • Celebrate milestones – Hit a goal? Awesome! Enjoy your reward — you earned it.
Ozzy the koala is pointing at a white board

🧠 Why Saving & Budgeting Matters

Learning to save and budget helps you:


  • Build healthy money habits early
  • Avoid running out of money too quickly
  • Reach exciting goals faster
  • Feel independent and responsible


These skills aren’t just for now — they’ll help you become a money-smart teenager and an even smarter adult. 💪

🔍 Explore More: Fun Money Challenges

  • ⭐ Start a 30-day saving challenge
  • 🛍️ Try a no-spend week
  • 📚 Create your own money story comic
  • 📈 Keep track with our free printable Money Journal and Weekly Tracker


🦘 Australian Money Fact

Did you know?


Some Aussie banks like Commonwealth Bank and Bendigo Bank offer school banking programs or youth accounts that make saving even more exciting — with rewards, online tools, and learning resources just for kids!

 🎉 Final Thought

You don’t need to be a grown-up to manage your money — you can start right now.


So, Money Explorer:


   What will you save for first?


And how will you make your money go the distance?


Let the budgeting adventure begin! 🧭💰