Budget Planning and Spending Game
Give your child a pretend budget and a list of items with prices. They must plan spending, make trade-offs, and calculate change — real financial literacy in action.
What You'll Need
- 1Homemade shopping catalog (paper with item names and prices)
- 2Play money or a written budget tracker
- 3Pencil and paper for calculations
- 4Calculator (optional)
What You'll Need
A homemade shopping catalog (item names and prices on paper)
Play money or a written budget tracker
Pencil and paper for calculations
A calculator (optional)
How to Play
Create a catalog: 15-20 items ranging from $2 to $15.
Hand over a $25 budget. "Buy whatever you want — but don't go over."
Make a wish list first. "Total it up. How much?"
Over budget? "What will you cut?"
Finalize choices. Calculate total and change.
Discuss: "What was hardest to give up? What's a 'want' vs. a 'need'?"
Next round: add a savings option. "Put $5 in savings and you earn $1 interest. Worth it?"
Why It Works
Budgeting is one of the most practical math skills and one of the least taught in schools. This game requires addition, subtraction, comparison, and decision-making under constraint. The trade-off conversations — choosing between a $10 item and two $5 items — develop economic reasoning and delayed gratification. The savings option introduces the concept of interest, which is one of the most powerful ideas in finance.
Tips
Use items your child actually wants — real toy names, real snack brands. Motivation drives engagement.
Start with round numbers (no cents). Add decimal prices for older kids who are ready for that challenge.
The trade-off discussion is more valuable than the math. Ask: "If you save $10 this week, what could you buy next week that you can't afford now?"
Try it at a real store: give your child $5 to spend however they choose. Real spending cements the concept.
For advanced kids, add a "tax" (10%). This requires percentage calculation and makes the budget tighter.
Frequently Asked Questions
How long does this activity take?
This activity takes about 25 min, with 10 min of preparation time beforehand.
What materials do I need?
You'll need: homemade shopping catalog (paper with item names and prices), play money or a written budget tracker, pencil and paper for calculations, calculator (optional).
What age is this activity for?
This activity is designed for 8-12 years. You can adapt it for younger or older children by adjusting the complexity.
Can this be done indoors?
This activity is designed for indoor play, making it perfect for rainy days or when you're staying inside.
How difficult is this activity?
This activity has a moderate difficulty level. It may require some preparation or guidance, but is manageable for most families.
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