Spending
When you spend money, you have less left for something else.
What is spending?
Spending means using your money to buy something — a toy, some food, an activity, anything at all. People spend money because it's how you get things you need or want.
Spending is a choice
Having money doesn't mean you have to spend it. Before you buy something, it's worth asking yourself a few questions:
- Do I really want it?
- Do I need it?
- Is it worth the price?
- Would I rather save the money?
- What else could I buy with the money?
Spending isn't a bad thing — it's one of the things money is actually for. The goal is just to make it a decision, not something that just happens.
Choosing one thing means giving up another
You have $10. You could spend it on a toy today. Or you could save it toward something that costs $30. Neither choice is automatically right or wrong — what matters is making the choice on purpose.
Needs and wants
Some spending is on things we need — like food or school supplies. Some is on things we want — like a toy, a game, or an outing. There's a full lesson on this coming later; for now, it's just worth knowing the difference exists.
What would you choose?
There's no single right answer here — it's your call.
What would you choose — and how much money would you have left afterwards?
A real shopping trip is a great way to practise this. Give your child a small amount of money to manage, and let them:
- Choose what they'd like
- Check the price
- Count their money
- Pay for it themselves
- See what they have left
This works with an amount you're already comfortable giving them — no need to encourage a purchase that wouldn't otherwise happen. The point is simply for them to feel that spending reduces what they have available.
MyKidsMoney treats spending as one part of managing money, alongside saving and giving — the same idea behind a real family's Spend, Save & Give system.
Where to next
Sometimes the best choice isn't to spend at all — it's to keep your money and work towards something you really want. That's the idea behind the next lesson: Saving.
Next lesson: Saving
Sometimes the best choice is to keep your money and work towards something you really want.