Money isn’t just something adults talk about - it’s part of your everyday life. Whether you’re saving for a new phone, buying snacks, or planning a mini-business, understanding how money works helps you make smarter choices.
Here are five key money skills every teen should learn:
1. 💰 Budgeting: Know Where Your Money Goes
Budgeting means planning how to use your money. If you get £10 a week, decide how much to save, spend, and share. Use a notebook or a free app to track your spending.
💡 Example: If you want to buy headphones for £40, and you save £5 a week, you’ll reach your goal in 8 weeks. That’s budgeting in action!
2. 🏦 Saving: Pay Yourself First
Saving is like planting seeds for your future. Even small amounts add up. Create a savings jar or open a youth savings account.
🎯 Tip: Save at least 20% of any money you receive - birthday gifts, pocket money, or earnings.
3. 📈 Understanding Value: Not All Deals Are Good
Learn to compare prices and spot real value. A £5 item that breaks in a week isn’t better than a £10 item that lasts a year.
💡 Challenge: Next time you shop, compare two similar products. Which offers better value over time?
4. 🧠 Smart Spending: Think Before You Buy
Ask yourself: “Do I really need this?” “Will I still want it next week?” Waiting 24 hours before buying something can help avoid impulse spending.
Ask yourself: “Do I really need this?” “Will I still want it next week?” Waiting 24 hours before buying something can help avoid impulse spending.
5. 🚀 Earning: Turn Skills into Income
You don’t need to wait until adulthood to earn money. Offer tutoring, sell crafts, walk dogs, or help neighbours.
💡 Mini-project idea: Create greeting cards and sell them at school events or online. Track your costs, set prices, and learn how profit works.
Learning about money now gives you freedom later. It’s not about being rich — it’s about being wise, confident, and ready to shape your future.
