How to Teach Your Kids About Money This Summer

Summer’s here - long days, no school runs, and a perfect chance to teach your kids something school rarely covers in depth: how to handle money. With a little creativity, you can turn the next few weeks into a fun, hands-on crash course in financial literacy. And no, it doesn’t have to be boring or complicated!

Let’s walk through some easy, age-appropriate ways to help your children earn, save, and spend smart this summer.

Why Summer Is the Perfect Time to Talk About Money

During term time, it’s easy for life to feel like a whirlwind. But in summer, there’s space. Less routine means more opportunities for your kids to explore, learn, and take on new challenges, like managing their own money.

Even better? You’ve got time to sit down together, plan goals, and chat about how money actually works in the real world. Whether your child is five or fifteen, there’s always something age-appropriate you can introduce.

Set a Summer Savings Goal

Start with something simple: ask your child what they’d love to have by the end of summer. Maybe it’s a new toy, a trip to the arcade, or even saving up for back-to-school bits. Having a clear goal gives them a reason to save and a sense of purpose when they start earning.

Write the goal down, draw a chart, or use a savings jar. Whatever suits their age and personality best. Just keep it visible, something they can track and celebrate progress on.

Help Them Find Ways to Earn

Once they’ve got a goal, it’s time to help them earn. Here are age-appropriate ideas:

For Young Kids (Ages 5–9)

Run a lemonade stand or bake sale
Walk the neighbour’s dog
Take on extra chores (beyond their normal ones)

At this age, kids are just starting to grasp the link between effort and reward. Keep it fun, light, and encouraging.

For Tweens (Ages 10–12)

Sell crafts or handmade goodies
Do garden work (weeding, sweeping, planting)
Help neighbours with tech or light organising

They’re old enough to handle more responsibility and are often keen to feel grown-up and capable. It’s a great time to introduce basic entrepreneurial thinking.

For Teens (13+)

Get part-time jobs (cinemas, restaurants, camps)
Offer babysitting or tutoring
Try side hustles like dog walking, car washing, or even DJing

There are loads of teen-friendly ways to make money online, too, from selling crafts on Etsy to becoming a digital learning assistant. Just be sure they’re doing it safely and legally (teens under 16 can work up to 40 hours a week in the summer in the UK, but there are still restrictions).

Teach the Big Three: Save, Spend, and Give

Now they’re earning, what comes next? Teaching your kids how to use their money wisely is just as important as how to earn it.

A tried-and-tested method is the three-jar system:

Save: For future goals or larger buys
Spend: For fun, everyday things
Give: To help others - be it charities, community efforts, or even friends in need

Use actual jars or envelopes for younger children. For older kids, try apps or spreadsheets to help them see where their money is going. The main idea is building the habit of mindful money management.

Go Deeper with These Easy Extras

If your child is doing well with the basics, here are a few more things to try:

1. Match Their Savings

Want to really motivate them to save? Try matching what they set aside. It teaches them about compound growth and introduces the concept of earning interest, an early glimpse into real-world financial rewards.

2. Involve Them in Family Budgets

Planning a holiday? Doing a big shop? Let your child help you compare prices or decide where to cut back so you can splurge elsewhere. These experiences show them how budgeting works in real life - something they’ll need when they’re managing their own bills one day.

3. Use Real-Life Mistakes as Lessons

Let them make the occasional bad buy. Experience is a great teacher. If they blow all their savings on something they regret, talk it through. It helps them learn without judgment.

Boost Their Understanding with Modern Tools

Digital tools can be game-changers when it comes to financial education. Consider setting them up with a prepaid debit card like GoHenry or a savings account like MiGoals4Kids. These come with apps that teach budgeting, interest, and saving goals in a fun, hands-on way.

They can even start investing using child-friendly platforms, custodial accounts, or even by picking a stock in a company they like (hello, Roblox or Nike!).

Keep It Real, Keep It Ongoing

Money talk shouldn’t be a one-off summer activity. Make it part of everyday conversation:

Share your own saving or budgeting wins and challenges
Let them see you comparing prices or turning down impulse buys
Ask them about their saving goals and celebrate their wins

And don’t forget: financial literacy isn’t just about saving. It’s about building confidence, independence, and resilience.

Start Small, But Start Today

You don’t need to be a money expert to raise money-smart kids. You just need to give them the time, space, and support to learn.

Summer is the perfect time to start - less pressure, more opportunities, and heaps of teachable moments hiding in everyday life. Whether it’s earning their own cash, helping you budget for a family day out, or saving for a goal that matters to them, it all adds up.

And remember: these early money lessons aren’t just about pounds and pence. They’re about giving your child the tools to make smart choices, now and for years to come.