Teaching children about money is just as important as teaching them to read or ride a bike. Financial wisdom is a life skill that will set them up for the future. As parents, grandparents, or mentors, we have the opportunity to give the next generation a head start. By weaving in Christian principles like stewardship and generosity, we can help kids develop not only good money habits but also important values.
Here are five practical tips to teach the young ones in your life about money:
1. Start a saving habit early
Encourage kids to save first before they spend. Younger children can still use a clear jar or piggy bank to see their progress, but you could also try a savings app designed for kids. Apps like SquareOne (New Zealand-based) let children set goals, track savings digitally, and learn in a way that feels natural in today’s world.
Help them set a goal – like saving for a toy or outing – and celebrate when they reach it. This shows that small, steady steps add up over time.
“Little by little, the bird builds its nest” French proverb.
The key is to make saving feel rewarding, not restrictive.
2. Teach the difference between needs and wants
Kids often think they “need” the latest gadget. Use that moment to talk about the difference between what’s necessary, like food or school supplies, and what’s optional.
A simple way is to list items under “Needs” and “Wants.”
For teens, this can lead to conversations about budgeting: making sure essentials are covered before spending on extras. These lessons guide children to make thoughtful choices and appreciate what they have.
3. Pocket money and budgets
Link pocket money to effort, such as helping with chores or small jobs. This teaches that money is earned, not just handed out.
Once kids have money of their own, introduce a simple budget method – like three accounts for Saving, Spending, and Giving. For example, a child might put $5 in savings, $4 in spending, and $1 in giving from a $10 allowance. Tithing (giving one tenth of our earnings to church and charity) can be a guide to measure our generosity against.
“Every tithe of the land … is the Lord’s” Leviticus 27:30
This system builds planning skills and helps children experience the value of saving and sharing, while still enjoying some treats along the way.
4. Encourage generosity and gratitude
One of the most important lessons is that money can be used to help others. Encourage your child to set aside a small portion of their pocket money for church, a charity, or a cause they care about.
Talk about why we give: because God has given so much to us. Model generosity yourself and involve them where you can – whether it’s contributing to your church, or supporting a local appeal. These moments remind children that money is not just for ourselves but a tool to bless others.
5. Open a KiwiSaver account
Children can join KiwiSaver, and starting early gives their savings decades to grow. Even small contributions can turn into something significant thanks to the power of compounding.
Christian KiwiSaver Scheme is designed with families in mind – there are no fees for members under 18. That means every dollar invested works for your child’s future. It’s also an opportunity to talk about investing with values, since Christian KiwiSaver Scheme is managed according to Christian principles.
Opening a KiwiSaver account for a child is simple and can be one of the most meaningful gifts you give them – teaching stewardship and providing a head start for their adult years.
Growing wise stewards
Teaching kids about money doesn’t require big lessons or perfect timing. Everyday life offers plenty of opportunities – whether it’s pocket money, a shopping trip, or saving for something special.
Keep it positive and practical, and remember that children often learn most by watching us.
By passing on simple money skills and framing them with faith, we equip the next generation to become wise, generous, and responsible stewards of the resources God has entrusted to them.
Christian KiwiSaver Scheme, The Retire Fund, and the New Zealand Anglican Church Pension Fund is managed and issued by The New Zealand Anglican Church Pension Board (trading as Anglican Financial Care). The Product Disclosure Statement can be found here Documents | Christian KiwiSaver Scheme.
