Ages 8–12: Smart Spenders
Introduction to Saving: Why Saving is Super!
For Aussie kids aged 8 to 12, learning about saving is a smart and exciting step on the journey to becoming money-wise.
At this age, kids are starting to understand how money works, how it’s earned, and—most importantly—how it can be used for things they want now and things they’ll want later.
So what’s saving all about?
Let’s dive in.
🌟 Why Is Saving Important?
Here are just a few great reasons to start saving:
- 🛴 Reach your goals – Want a new scooter or a cool gaming controller? Saving helps you get there.
- 📅 Plan for the future – Birthday gifts, school trips, or something special later in the year.
- 😌 Feel confident and in control – Saving gives you the power to make smart choices.
- 🧠 Learn patience and discipline – It’s not always easy to wait, but it’s always worth it.
🐷 Meet Your New Best Mate: The Savings Jar
One of the easiest ways to start saving is with a savings jar, tin, or wallet.
Label it clearly and keep it somewhere safe.
Every time you receive pocket money, birthday money, or earn something through chores, put a little into your savings jar.
You can even try the "3 Jar Method":
- Spend Jar: For small things now
- Save Jar: For bigger things later
- Share Jar: For helping others
💡 How Much Should You Save?
A good rule for beginners is the 50/30/20 Rule:
- 50% for spending (a little treat or toy)
- 30% for saving (towards a big goal)
- 20% for sharing (if you choose to help others or donate)
But remember—there’s no "perfect" amount.
What matters is that you
start small and stick with it.
🎯 Setting Savings Goals
Saving is easier (and more fun) when you have a goal in mind!
Here’s how to do it:
- Pick something you really want (e.g. a LEGO set for $50).
- Work out how much you can save each week (e.g. $5/week).
- Figure out how long it will take to reach your goal (10 weeks in this case).
- Make a tracker—use stickers, colour in squares, or use a savings chart.
🎉 Reaching your goal will feel like a big win—and you’ll know you earned it all on your own.
📱 Fun Saving Tools for Kids
There are plenty of kid-friendly savings tools available in Australia, like:
- Bank accounts for kids: Big banks like Commonwealth Bank (with its long-running Dollarmites program) offer savings accounts made just for young savers.
- Apps and digital piggy banks: Try “Spriggy” or “ZAAP” to track savings and spending using parent-supervised apps.
- Printable savings trackers: Download colourful charts you can hang in your room.
📚 Real-Life Examples
Let’s meet some Smart Spenders!
- Olivia (age 10) wanted a new skateboard worth $120. She saved $10 each week for 12 weeks and reached her goal.
- Zac (age 9) saved half of his birthday money and used the rest to buy Pokémon cards.
- Lily (age 12) created a “pet care savings plan” to help buy toys and treats for her dog.
👨👩👧 Tips for Parents and Carers
💬 Talk openly about money – Discuss saving goals and celebrate small wins.
✅ Offer matching incentives – For every $1 saved, you could add 50c to help build momentum.
📅 Make saving a weekly habit – Encourage a set “money day” to sort out jars or banking.
🎈 Make it visual and fun – Charts, stickers, or countdown calendars keep kids engaged.
🧠 What Kids Are Learning Through Saving
- Planning and goal-setting
- Delayed gratification (waiting for something worthwhile)
- Basic numeracy and budgeting skills
- The joy of independence and achievement
🦘 An Aussie Angle: Why Saving Matters Down Under
Whether it’s saving for an NRL jersey, a Bunnings LEGO workshop, a trip to Luna Park, or a family holiday to the Gold Coast, saving money helps kids in Australia take part in life’s adventures—while learning responsibility.
🌱 Ready to Start Saving?
Saving isn’t just about money.
It’s about building good habits, learning how to think ahead, and becoming a Smart Spender who’s ready for whatever comes next.
Get your jar, set your goal, and start saving today.
Your future self will thank you!
