Everyday money basics for all ages
Children are like sponges and they’ll learn just by watching you.
Talking about money as you go about daily life, such as when you're shopping, paying bills, planning ahead, will help make it feel normal and understandable. If you use cash, showing them an ATM receipt can help explain that money comes from your bank account, not the machine itself.
If you mostly bank online, showing your balance in internet banking or a mobile app can teach the same lesson in a way that reflects how money works today.
Encouraging kids to save for something they want also helps them learn patience, goal‑setting and trade‑offs. Tracking progress together makes the learning visible and rewarding.
Age-by-age money lessons
Ages 0 to 6 — Making money real
At this age, the goal is familiarity. Simple activities like using a money box or jar, sorting coins or saving towards an item they really want will help kids understand that money is limited and choices matter.
Ages 7 to 9 — Saving and patience
As kids get older, they’re usually ready to take a more active role. This is a good age to talk about why saving matters and how small amounts can add up. You could encourage them to:
- Save part of their pocket money
- Set a goal for something they really want
- Show them their bank balance to see progress over time.
Ages 10 to 12 — Planning and responsibility
Kids at this stage can usually start connecting money to real‑world choices.
Encourage them to keep working towards their savings goals, and talk through the steps they could take to reach them.
You can also help them understand the value of money by involving them in simple family budgeting decisions. For example, if you’re doing the grocery shop, talk about what things cost and how you decide what fits within your budget.
Ages 13+ — Independence with support
Teenagers are typically ready for more independence, but still need guidance.
Giving them responsibility for certain expenses, like clothes or hobbies, can help them learn to plan and prioritise. A regular budget — weekly or monthly — helps build confidence and accountability.
It’s also important to talk about online spending, keeping personal details safe and recognising scams and risky behaviour.
Before increasing access to digital banking, take time to talk about online security. Netsafe.org.nz has practical resources for families navigating this space.
Banking tools, when you’re ready
As your child grows and their confidence builds, you might choose to add a savings account and/or an everyday account to support what they’re already learning.
Think of banking tools as just that — tools. They work best when paired with ongoing conversations and support as your child grows.
Explore the different account options for kids and teens, and see what could work for your whānau (family).
Financial literacy in school
We think it's important that all Kiwi kids are prepared for the financial world ahead, so we work with Banqer to help provide financial literacy lessons for free at schools throughout the country.
Banqer is an online tool that can be used in classrooms to create a complex and realistic virtual economy that students participate in. Find out more about Banqer and how you can get it in your child's class.
This page provides general information and isn't intended as regulated financial advice. To review your specific situation and financial requirements please talk to one of our Kiwibank Representatives or your Financial Adviser.