Hey there,

Welcome to our next edition of Mini Millionaires.

We’ve loved hearing back from you – hit reply and tell us what you'd like to see more of from us.

This week, we’re chatting about teaching kids about the value of money.

Let’s go…

Game On

• 🪴 Main feature: Help kids grasp the value of money

• ✔️ Resource: Little household earning opportunities? Get the chore tracker 

• 🎲 Make it fun: Get your copy of FinMaster to play your way to wealth

• 🐖 The votes are in: How you learnt to save

Money Smart

Understanding What Their Money Is Worth

Depending on their age, most kids see money simply as pieces of paper or coins in a wallet or money jar or, even worse, numbers on a screen. 

But what do these pieces of paper or numbers on a screen actually mean? How can we help them learn that money represents their effort, time, and choices of spending it wisely?

Teaching kids the value of money is not about making them obsessed with every Rand…

It’s about helping them make the connection between money and real-life decisions.

Here’s one mindset to instil, one habit to practice, and one easy trick to make it stick as we teach kids about the value of money…

1. A mindset to cultivate

Money represents our efforts, not simply numbers

Kids often experience money as something that magically just appears. Whether it’s pocket money, gifts when it’s their birthday, or even a little something Granny slips them “to buy something nice”...

But getting to the real crux of understanding the value of money means linking it to effort.

When you explain that money isn’t just “given” but rather it’s earned by working hard, creating something, or solving a problem. 

You can use a relatable example to explain this further: “It takes Mom/Dad X number of hours of work to pay for this toy.” (Be warned though, this might be a very painful exercise for you yourself…)

This encourages your child to think beyond the price tag. Like, is this item even worth the time it takes to earn that money?

Takeaway: Kids who connect money to the effort it takes to make it are less likely to waste money and more likely to appreciate what they have.

2. A habit to form

The “Work for It” Method

One of the best ways to teach kids the value of money is to let them earn it, not through random handouts but by rewarding their efforts.

The way to do this is by creating small earning opportunities for them to earn some money. This could be anything from extra chores over and above normal household duties to encouraging small entrepreneurial activities like making something to sell. Hello Mini Moguls…

This creates an opportunity for them to work toward something they want rather than you just buying it for them.

This also provides a great opportunity for them to see how money grows, reinforcing its value, and shifts their mindset from “spending money” to “spending time.”

Takeaway: When kids earn their own money, they make smarter spending decisions and feel a sense of accomplishment.

3. A tip/trick to try

The “Price in Time” Rule

Instead of just stating how much something costs, help kids measure it in time worked.

For example:

• If they earn R20 for a task, a R100 toy, it means 5 tasks need to be completed.

• Or if they earn R50 an hour, a pair of sneakers that cost R500, requires 10 hours of work.

This helps to shift their mindset from money as an endless resource to money as something tied to effort and helps kids decide if a purchase is really worth it.

Takeaway: When kids learn to equate money with time and effort, they naturally become smarter spenders.

Your Thoughts…

Use This

Keep Track of Them Chores

Part of teaching kids the value of money is helping them connect effort to earnings.

Our simple, printable Chore Tracker gives families a clear way to keep track of the tasks and chores they've completed and the reward they've earned. 

It turns "working for it" into a fun, visual challenge that helps reinforce today’s Mini Millionaires’ mindset, habit, and tip that money doesn’t just appear; it’s earned through time, effort, and responsibility.

Print it out on a magnet and stick it to the fridge to make it reusable and more sustainable. 😉

Plus: Try This

Play Your Way to Wealth

The first edition of our FinMaster board game was an absolute hit with families and schools alike, selling out completely.

So we’re doing another run really, really soon.

FinMaster’s mission is to make financial education fun and accessible by letting you:

• Buy exciting assets and build your portfolio.

• Prepare for the ups & downs of market events.

• Use sneaky powers to gain the upper hand.

• Build wealth and claim the title of FinMaster!

The Tribe Has Spoken

Last week, we asked what helped you finally learn to save, and it looks like there are some pretty awesome savings role models out there. 

⬜️⬜️⬜️⬜️⬜️ 🤷‍♀️ Honestly? Trial and (expensive) error

⬜️⬜️⬜️⬜️⬜️ 🐷 My first piggy bank — I was obsessed

⬜️⬜️⬜️⬜️⬜️ 💡 A lightbulb moment when I wanted something big

🟩🟩🟩🟩🟩 👀 Watching someone close model good habits

🟨🟨🟨⬜️⬜️ 📚 A book, blog, or podcast opened my eyes

What you said: 

“I truly have done a good job saving from the onset of my career, purely from good examples in my life.”

Nicely done. Start young, finish strong.

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.

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