💰 Money Skills for Kids & Teens · Lesson 3 of 7
Allowance and a budget
Three jars: spend, save, give.
What is a budget?
A budget is a plan for money: how much comes in, and where it goes. Instead of asking at the end of the week “where did my money go?”, you decide ahead of time. Countries, cities and families all work with budgets.
Three jars
| 🛍️ Spend | Small things now: a snack, stickers, a game with friends |
|---|---|
| 🐷 Save | A big goal that takes time |
| 💝 Give | Charity, a donation or a gift for someone |
Example: $10 a week
- Choose a split: 50% spend, 40% save, 10% give
- Spend: half of $10 = $5
- Save: 40% of $10 = $4
- Give: 10% of $10 = $1
- Check: $5 + $4 + $1 = $10. Every dollar has a job
Tip
💡 Split the money into the jars the moment it arrives, not at the end of the week. Money in the save jar does not come out for candy.
✏️ Practice: your turn
- Make three jars or boxes and decorate them
- Agree together on a split in percent
- Split this week’s allowance (or pretend money) into the jars
- Keep a small notebook: each time you spend, write the date, what and how much
🧠 Quick quiz
Answer all 4 questions correctly to mark this lesson as done.
0 of 4 correct
All lessons in Money Skills for Kids & Teens
- 🪙 1. What money is and where it comes fromBartering, dollars and cents, and how people earn money
- ⚖️ 2. Needs or wants?What you must have, what is nice to have, and how to decide
- 🫙 3. Allowance and a budgetThree jars: spend, save, give
- 🎯 4. Saving for a goalHow many weeks until I can buy it, with a full example
- 🛒 5. Smart shoppingComparing prices, unit price, and the tricks of sales and ads
- 🏦 6. Banks and interestAccounts, debit cards, interest and compound interest in dollars
- 🔐 7. Money online, safely — and a final projectIn-game purchases, scams, card details and a family budget