Hey there, 

It’s time for the next edition of Mini Millionaires. In this one, we’re sharing how to teach kids smart spending habits with a mindset to cultivate, a habit to form, and a tip to try, plus a bunch of other helpful stuff to help you teach your kids smart money skills.

We’ve loved hearing about your mini millionaires’ journey so far, so please keep those replies and DMs coming.

Let’s go...

Game On

• 🧐 Mini Millionaires: Big brain spending habits.

• ⭐️ The Spend Stars chart: Track & review spending choices.

• 🎲 Roll the dice: Learn some smart money tricks.

• ✖️ Results are in: How you earned your pocket money.

Money Smart

Spending Smarter, One Rand at a Time

Most kids are taught how to earn and save money.

But then, once they’ve put a decent amount away, few are taught how to (properly) spend money. And yet, spending is where money actually meets meaning, and where their spending choices reveal their values, priorities, and self-control.

Smart spending habits are one of the strongest signals of long-term financial well-being, and they’re the antidote to emotional, and impulse spending. 

And it’s not about saying ‘No’ to everything, but rather about saying ‘Yes’ to the right ones.

1. A mindset to cultivate

Not all spending is bad. But not all spending is smart.

Ever experienced that when a child gets some money, it’s as if it comes with a disclaimer, “use it or lose it”? That money burns a hole in their pockets.

So what if we helped them to reframe their spending from “use it or lose it” to “choose with care”? 

Every spending choice comes with a trade-off. When you buy this item, it means you can't buy that one later on. 

So we can ask questions like: “Do you really want this item specifically, or do you just want something for the sake of buying it?” or “Which item will matter more a week from now?”

Takeaway: Smart spending means choosing what matters most, not just what’s in front of you.

2. A habit to form

A day waited, is never wasted

Have you heard of the 24-hour rule? 

If your mini millionaire wants to buy something that’s not essential, ask them to wait one day before deciding.

This simple delay builds in reflection and gives the impulse a chance to cool off. 

It’s also a great chance to revisit their goals or savings plan. Often, what felt urgent in the moment (right there in the store) doesn’t seem quite as important later on.

Bonus tip: help your child keep a “spending journal” to track how they feel after each purchase. They might just start noticing patterns (and regrets) over time.

Takeaway: A pause before purchase = power.

3. A tip/trick to try

Small stakes mean big confidence.

Give your child their own “Spending Wallet” with a small weekly budget (even R20 is enough).

Let them make their own spending decisions, but review those together at the end of the week.

Ask questions like: “What did you buy?”, “Was it worth it?”, and “Would you make the same choice again?”

Remember, no questions are off the table. Money convos with their parents when they’re younger lead to better financial habits in adulthood.

You can also add fun labels like “Smart Buy,” “Impulse Buy,” or “Regret Buy” to open up discussion without judgment.

This gives them real-world experience (while the stakes are still pretty small) to see them be better prepared when the stakes are higher.

Takeaway: Let kids make small spending choices now, so they’re ready for bigger ones.

Your Thoughts…

Use This

Reflect on what they spent it on

Our Spend Stars chart helps kids reflect on their purchases in a fun, practical way. 

After each buy, they jot down what they bought, how much it cost, and give it a star rating from 1 to 5, from “I wish I didn’t buy it” to “I’ll treasure this forever.” 

By tracking and reviewing their spending choices, kids begin to understand value, cost, and what really matters to them. It’s a hands-on way to build financial awareness. 

Download it, print it, and pop it in their spending journal, ready to guide the next money decision they make.

Plus: Try This

Play your way to wealth

FinMaster turns financial education for kids into an epic board game for kids of all sizes (that’s right, you too, Mom & Dad). 

Buy assets, brave market swings, and use clever strategies to outplay your opponents to become the ultimate: FinMaster.

This fast-paced, family-friendly (not to mention packed with teachable moments) board game makes money talk feel less awkward and more like a key part of your family values.  

Pre-order the next drop of FinMaster.

The Tribe Has Spoken

Last week, we asked How did you get pocket money growing up? And looks like most of us had to earn it.

⬜️⬜️⬜️⬜️⬜️ 🛍️ If I needed or wanted something, someone got it for me.

🟨🟨🟨⬜️⬜️ 🗓️ I got a weekly/monthly allowance, no questions asked.

🟩🟩🟩🟩🟩 💰 I had to earn it to burn it.

⬜️⬜️⬜️⬜️⬜️ 🧼 There were non-negotiables I’d have to do to get it.

🟨🟨⬜️⬜️⬜️ 😎 I was making my own money early on.

What you said: 

“I had to earn it, academically... certain marks warranted specific amounts! ”

Alright! Cause academics are sorta like a job before one is old enough to enter the workplace. Very cool idea.

“Had to earn it. Had big dogs growing up, there was a calendar on the fridge that got marked each day certain things were picked up off the lawn, get all 7 days, I got a shiny R5 coin. Skipping a day meant a deduction from the R5.”

😂 Great way to motivate, and keep you consistent.

“Bought my first laptop in high school from earning R50 per week working in the school tuck shop every break 😭😅”

Wow! That’s amazing. We should connect you with 👇

“Started a nice tuckshop from my kitchen window in grade 2! I still have the bank account till today! 🥹”

Very nicely done. More importantly, are you still running the tuckshop? We’re feeling snacky.

Let’s Connect

Have you tried any of today’s featured exercises yet?

What worked, what didn’t? Or did one of them get you particularly excited?

We’d love to get your thoughts so please hit reply to this email and share your thoughts.

PS: Did someone forward you this email? Subscribe here.