Hey there,

It’s time for the next edition of Mini Millionaires.

Thanks to everyone who wrote to us last week. We’ve loved hearing from you. Hit reply and tell us what else you’d like to know more about to teach your Mini Millionaire.

In this edition, we’ll cover giving their money a place to go: How to teach kids to budget…

So, let’s get into it.

Whether you’re a kid, a teen, or even an adult, when you’ve got a bit of cash to burn, it sometimes feels like it’s burning a hole in your pocket, right?

And if it’s like that for someone with a fully developed pre-frontal cortex, imagine what it’s like for someone under 25, who is still developing this key tool for impulse control…  

So it’s not that kids are bad at controlling the “I want to buy this thing now” thought process; it’s that their brains are still developing. And what a great time to introduce them to budgeting, to help them train their brain in a solid financial principle.

But we know that even just the word “budget” can send shivers down your spine. And it’s not any different for kids. Which is why we’re calling it something new: a Money Map…

Let’s get into today’s mindset to cultivate, a habit to form, and one tip/trick for you to try…

Budgeting isn’t about restriction, it’s about freedom.

At first glance, a budget might seem like a boring set of rules that gets in the way of buying what you want right now.

But let's flip the script: a budget is the plan you make to get what you want most.

It’s the difference between drifting along, hoping for the best, or steering your own money ship in a specific, intentional direction.

And it’s (almost) never too early to start. A Cambridge study found that children as young as seven years old already develop basic money habits, making early lessons about financial planning critical to shaping long-term behaviours.

Takeaway: Budgeting isn’t about saying no. It’s about learning to say yes to the right things.

Split money into categories right away.

The moment kids receive money, whether it’s their pocket money, allowance, or money for their birthday, show them how to divide it up intentionally.

A simple, powerful system is to think about four categories:

Getting into the habit of categorising your money before you spend it helps build intentionality, and has a lasting effect…

Studies show that financial education covering everything from increased savings and speedier loan repayments was still detectable more than a decade after the young learners had left school.

Takeaway: Think about where your money should go before you spend it (not after it’s almost gone).

Make it visual.

In one of our very first Mini Millionaires editions, we introduced the simple but powerful Jars System — and it’s a perfect match here.

Kids need to see how their money is divided. Set up four jars or envelopes, or even use a kid-friendly budgeting app labelled:

Here’s a tip to try: Figure out a ratio of how to split their money between their four jars (or envelopes). This leaves no room for any confusion and gives them a formula to stick to. 

A simple rule of thumb to start with is the 7-1-1-1 Rule:

So, for every R10 they receive, they can: 

Of course, the less the spending category could be, the better for long-term financial health…

Takeaway: Making budgeting visual makes it real and turns good money habits into second nature.

Chances are kids don’t need complex spreadsheets and formulas (just yet)...

So our easy-to-use (not to mention cool-looking) Money Map is the perfect way for them to see exactly what’s going on in their budget and, most importantly, teach them the fundamentals of budgeting.

Simply download it, print it out, stick it up somewhere, and start writing down everything that’s coming in and how much needs to go to each of Spending, Saving, Sharing, and Sowing…

Who knew it could be that simple?

Whether you're an economic management sciences teacher or a parent of an EMS learner, Fintr4Schools has everything you wished you learned about money, now for your students…

Equip EMS students with essential money skills through a gamified, CAPS EMS-aligned digital learning platform that makes financial literacy fun and unforgettable.

Turn your classroom into a financial adventure where students unlock superpowers, battle money villains, and build smart habits that last a lifetime.

It’s not only fun, but also official. Fintr4Schools features:

Get in touch to talk about getting Finter4Schools in your school today.

Last week, we asked what’s the best way for kids to get money, and it seems housework is the way to go… 

⬜️⬜️⬜️⬜️⬜️ 👜 Generous Grannies and Grandpas FTW

⬜️⬜️⬜️⬜️⬜️ 💸 A monthly allowance or pocket money

🟩🟩🟩🟩🟩 🧹 Put ‘em to work around the house

🟨🟨⬜️⬜️⬜️ 💡 If they have a cool business idea, I’ll help them start

⬜️⬜️⬜️⬜️⬜️ 🦷 The tooth fairy that visits our house seems to be loaded

What you said: 

“I'll totally encourage the creative juices and be the VC, Haha.”

And cash out with a healthy retirement if all goes well. :-)

“It's all about them learning to solve problems and create value!”

It’s just a bonus if it’s a problem of ours they’re solving…

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.