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Splitting Pocket Money Into Three Jars

Before spending, you decide how your pocket money will be divided between things you need, things you want, and savings. Planning first means the important things are covered and your savings keep growing.

In the picture

  1. The pocket money received: the whole amount to plan before spending
  2. Needs jar: the biggest share, for essentials like lunch or bus fare
  3. Wants jar: a smaller share for fun things like a new football
  4. Savings jar: money put aside for later goals or emergencies

Examples

  • With 20 of pocket money, you might put 10 toward school lunches, 4 toward a game, and 6 into savings.
  • Saving a little each week for a month so you can buy new headphones without borrowing.

Quiz: Splitting Pocket Money Into Three Jars (Age 12)

  1. When is the best time to decide how your pocket money will be split?

    • After spending, to see what is left
    • Halfway through the week, once you know what you want
    • Before spending any of it
  2. When you split your pocket money, which share should usually be the biggest?

    • Money for essentials like lunch or bus fare
    • Money for fun things you want
    • Money put aside for later
  3. Your needs take most of your pocket money this week. What should you still do?

    • Skip saving until you get more money
    • Spend what is left on wants and save next time
    • Set something aside for savings anyway

The answers, each with its explanation, are in the app. This lesson has left the free week, so its quiz is part of the subscription.

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Daily Life, Age 12