Learn how to teach kids about budgeting with real South African cost-of-living examples. Build smart money habits, teamwork, and confidence, one Rand at a time
If your grocery bags feel lighter but the amount you spend at the till keeps growing, you’re not alone.
In 1995, the typical South African grocery basket consisting of 15 staple items including: rice, bread, milk, eggs, apples, potatoes, coffee, and a few basics, cost just R82.68.
Today, that same basket rings up at around R644.85, a 680% jump in grocery prices, nearly double the overall inflation rate.
With food, fuel, and electricity prices climbing, most South African families are re-looking at how far each Rand can stretch.
Kids notice these changes too: The “not today” in the sweet aisle, the swap from takeaways to home dinners.
But these moments open the door to a serious money smart conversation.
When children learn to budget, they discover how to make choices, delay gratification, and be in the driver's seat of their finances (even when things cost more than they used to).
Every Rand has a job.
Encourage your mini millionaire to think of each Rand as having work to do. Some Rands have the job of spending, others are saving, some are for sharing, while other Rands go towards sowing for their future.
Behavioural economist Richard Thaler called this mental accounting.
It doesn't matter what it’s for, or where it came from, but every Rand has the same value.
So this means that even if we receive a birthday gift, the temptation might be to spend it all on something nice. It is, after all, “extra money”. But that’s not the case.
Any and all money forms part of our broader financial health, and as such, should be subject to the same planning, or be given a specific job to do.
Takeaway: When every Rand has a job, kids learn that planning brings peace.
Budget together.
Make budgeting something your family does side by side.
(We know. Awkies.)
But you don't need to show them the full picture.
Invite your mini millionaires to help plan this week’s spending. Compare brands at the shop, or decide together what fits into the monthly treat budget. Talk through what happens when something costs more than you bargained for. Do we leave it out for this week, swap it out for something more affordable, or swap it out for something else altogether?
Talking through trade-offs shows them that budgets aren’t simply super secret spreadsheets, but they’re actually the lifeblood of a family’s financial health.
You’ll be surprised how quickly everyone gets on the same page when every family member knows what they’re working towards.
Takeaway: Budgeting together builds awareness and teamwork.
The Four-Jar Challenge.
Give your child four jars labelled Spend, Save, Share, Sow.
When they receive pocket money or gifts, guide them to divide it up:
Many adults still struggle with basic budgeting concepts. Simple, hands-on tools like our “Four Jars System” build early money confidence in mini millionaires.
Takeaway: When every Rand gets a home, kids see that budgeting gives them choices, purpose, and independence.
Free Resource: The Money Map
Kids don’t need fancy spreadsheets or complicated formulas to learn about money (not yet, anyway, unless they’re already some money mogul, in which case, we’d love to know their story).
This week’s free, downloadable, (and printable) resource is not only easy-to-use, but also extremely good-looking.
The Money Map helps mini millionaires see exactly where their Rands are going while learning the basics of budgeting. Just download it, print it, and stick it up somewhere visible.
Then jot down what’s coming in and how much goes into each jar:
It’s a hands-on way to make budgeting feel clear, visual, and fun.
