Three jobs for pocket money

Label three envelopes Spend, Save and Share.

Discuss what each can help your child do, without requiring a fixed split.

Sharing can include time and help.

Later, ask whether the arrangement worked and what they would change next time.

The idea behind spend, save and share

Pocket money can do more than one job. Splitting it into three simple purposes helps children aged about 6 to 8 see that money is a tool for choices. Spend is for things they want soon. Save is for a bigger goal later. Share is for helping others or giving a gift. Using three envelopes, jars or boxes makes the idea easy to see and touch.

How to set it up

1. Label three envelopes or containers: Spend, Save and Share. Let your child decorate them.
2. Talk about what each one could be used for. Write one or two ideas on each envelope.
3. When pocket money arrives, let your child decide how to divide it. You can suggest a split, but avoid making it a strict rule at the start.
4. Keep the Save money somewhere safe, such as a piggy bank, so it is not mixed with spending money.

Sharing does not have to mean money

As the story says, sharing can include time and help. A child might use the Share envelope to buy a small gift for a grandparent, or they might decide to share by helping a neighbor or making a card. Talking about both kinds of sharing shows that generosity is not only about how much money you have.

Review together

After a few weeks, sit down and ask:

• Which envelope was used the most? Which the least?
• Did you get what you wanted with your Spend money?
• How close is your Save goal?
• What would you change next time?

Adjusting the arrangement is part of the lesson. Some children want more in Spend at first and then choose to save more once they have a goal. Let them experience the result of their choices in small, safe amounts.

Next steps

To give the Save envelope a clear target, try drawing a path to a saving goal. Parents who are still deciding how pocket money will work can read pocket money starts with a conversation. A wooden piggy bank makes a good long-term home for Save money.