Money in Three Jars
Age 14 · Civics
A teenager’s money can be split into needs, wants, and savings. Planning this split helps make spending clear and keeps money aside for emergencies.
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In the picture
- The largest jar: money set aside for needs
- The middle jar: money set aside for wants
- The rightmost jar: money set aside for savings and emergencies
- The row of money pieces: income before it is shared out
Examples
- Paying for bus fare and school lunch from the needs jar.
- Putting birthday money into the savings jar for a broken phone or a rainy day.
Key takeaways
- Needs come first, wants come after, and savings protect you from surprises.
- A budget is a plan for where each part of your income will go.
Quiz: Money in Three Jars (Age 14)
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When sharing out income, what should be covered first?
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What is a budget?
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What is the savings part meant to help with?
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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