5 Budgeting Activities for All Ages

Budgeting is a crucial life skill, and everyone who earns money should know how to manage it wisely. It’s never too early—or too late—to strengthen money practices. These five interactive activities are tailored to different age groups, ensuring kids absorb the right financial lessons at the right time.

Activities for Early Elementary (Ages 5-7)

1. The Jar System: A Hands-On Way to Teach Kids About Money

Help kids understand money management with the Jar System. Use three clear jars labeled "Saving," "Spending," and "Sharing." Give children a small allowance—real or fake—earned through chores, merits, or other activities. Together, decide how much goes into each jar and stick to the allocations as they earn more.

Along the way, explain key financial concepts like short-term vs. long-term savings, instant gratification, and the importance of giving. If using fake money, ensure there's a meaningful reward for saving—such as exchanging it for prizes, experiences, or a special treat once they reach their goal.

For a deeper dive into this activity, check out Banzai’s free article, "Three Jar Allowance for Kids," available in the Banzai Wellness Center.

2. Needs vs. Wants Sorting Experience

Use pictures or real items and have kids sort those into either "Needs" (things they must have) and "Wants" (things they'd like to have). This can be a hands-on approach with physical objects, or you can use any of Banzai’s downloadable/printed resources in our free teacher toolkit. The key is to help kids understand the difference between wants vs. needs, and prioritize spending. Sign up anytime on our site.

3. Lemonade Tycoon—FREE Banzai Course

Engage children in financial literacy with Banzai’s Lemonade Stand activity. This interactive exercise teaches kids to manage their own virtual lemonade stand and learn essential money management skills. They'll track income and expenses, make change, and understand the implications of borrowing and debt. By setting savings goals, children experience the importance of budgeting and planning for future purchases. This hands-on approach not only makes learning fun but also instills practical financial habits that benefit them in the long run. For a comprehensive guide and resources, explore Banzai's Lemonade Tycoon unit. This real-world experience teaches about costs, pricing, profit, and managing money.

Middle School/High School (Ages 8-11)

4. Life Scenarios—FREE Banzai Course

Introduce students to real-life financial challenges with Banzai's Life Scenarios course. This interactive program presents learners (grades 7-12) with realistic financial dilemmas, such as deciding whether to sign a lease on a new apartment or determining the best course of action when their car breaks down. By navigating these situations, students develop positive financial habits, enhance their decision-making skills, and learn to balance a budget effectively. The course emphasizes the importance of planning for future expenses and adapting to life's financial ups and downs.

5. Advanced Budgeting—FREE Banzai Course

For a deeper dive into financial literacy, Banzai's Advanced Budgeting course guides students (grades 10-12) through complex financial processes. Learners practice allocating funds across various categories, including essential needs like food and rent, as well as saving for significant future investments such as purchasing a home. The course also delves into the intricacies of credit, teaching students how to manage credit cards responsibly and understand the factors that influence credit scores. By engaging with these advanced topics, students are better prepared to navigate the financial challenges of everyday life and make informed decisions about their financial futures.

Financial literacy is a lifelong journey, and a strong foundation in money basics helps kids develop smart financial habits that last. Introducing these concepts early makes managing money feel natural as they grow. Want even more engaging resources? Explore Banzai’s free courses and tools to bring financial education to life for learners of all ages.