Tools to help your 11-12-year-old kid to be cash clever

At this age your child may want more independence and control over their spending. While it's great for them to take on the responsibility, there are still some things you can do to help them.


Create money independence

Giving your child more independence and the chance to learn from their experiences can help put them on the right track when they're older.

Help them work out a budget for their bus fares or school supplies for the year and let them decide how they want to follow the budget for themselves.

Should I still be giving my child pocket money?

This decision is entirely up to you and your family's values. Your child might not be in the position to earn their own money, or you might simply want to help them out a little.

Take a look at our helpful resources to teach your child more about being independent with money.


Tracking goals

Does your child have a savings goal? Whether it's a small goal, like some new shoes, or a long term goal, like a first car, having a goal can help them stick to a regular savings habit.

The next step is to break the goal into achievable chunks. Sit down with your child and figure out the steps to achieving their goal, and how you’ll celebrate each one.

For example, imagine your child wants a $100 pair of shoes and they get $10 a week in pocket money. Help them work out a good balance between getting the shoes as soon as possible, while still having enough to spend each week. You can set up a goal tracker to help them stay motivated to reach their goal.

As a reward you could match certain saving milestones, offer them their favourite meal if they reach the halfway point of their savings on time, or give them a day off their chores.

Track your child's goals with our Goal Tracker.


Plan your spending to get what you want

Planning how to spend money before they get it could help your child stay on track with their saving goals.

Do they use their pocket money to buy a treat from the tuck shop once a week? Maybe they've got a trip to the movies with their friends coming up?

Once your child starts to think about their future spending they can start putting money aside for it. This skill will help them manage their income and expenses later in life.

Need help getting started? Why not use our Budget Template?

Resources for you and your 9-10-year-old

Help your child learn about financial literacy at home with our fun resources.

Find out more