How to teach kids to use money for experiences, so they spend on memories that last instead of stuff that ends up gathering dust in a cupboard
Think back to your mini millionaire’s last birthday.
Can you remember what they got? That shiny new toy they absolutely “had to have”? Or the really cool gift they got from Granny and Grandpa? Or that special gift from their best friend?
Half of it is probably already gathering dust in a cupboard, or stashed under their bed.
Now think about the last time you went and did something really special with them. That one day that still comes up at the supper table. This week is all about teaching your mini millionaire that some of the best things money buys aren't things at all.
Teach your mini millionaires to spend on experiences rather than things and you set them up for a richer life, one memory at a time.
Memories outlast the merchandise.
Kids get used to new things fast. The bike that was everything in January is just the bike by March.
But experiences work the other way. It’s a fact that people get more lasting happiness from experiences than from possessions. And there’s a really cool reason why.
See, when we tell someone about a day at the aquarium or a weekend by the sea, it becomes part of who we are. It’s the same for your mini millionaire. When they retell that story of an awesome experience, they’re actually reliving that experience every time they tell the story, so it keeps giving back long after the moment has passed.
Takeaway: Money spent on an experience buys a story that keeps paying out.
Saving is easier when there's an experience waiting at the end of it.
Most kids save for stuff: a cool pair of sneakers, a new video game, or that epic LEGO set.
Try giving them an experience to save towards as well, and watch the Save Jar do something new. Research has shown that the joy of an experience begins before you even buy it, because looking forward to it is half the fun.
A mini millionaire counting down the days to the beach is already enjoying it (even if it’s just in their imagination), weeks before the trip itself. That anticipation makes the waiting easier and the saving stick, which is the whole habit you're trying to build into your mini millionaire.
Takeaway: Naming the experience out loud gives the saving something to aim at.
Big memories don't always need a big budget.
Pick an affordable outing and plan it together.
A picnic, a hike up the local koppie, a free museum morning, or even a braai with the cousins.
Let your mini millionaire help pick the spot, pack the cooler box and work out the route.
And a fun lil bonus is that outdoor play delivers big benefits for mini millionaires at little to no cost. They’ll get a host of great benefits, from sharper focus to lower stress.
When mini millionaires see that a brilliant day can cost almost nothing, they learn that joy and price tags aren't the same thing.
Takeaway: The big budget is optional. Half the fun is in the planning.
This week's all about experiences, and nothing says South African family day out quite like a braai. And with spring around the corner, we can almost smell those family braais.
This week’s free resource is our free My Braai Budget worksheet. It hands the planning straight to your mini millionaire by letting them set a total budget, list what they need, work out what the wors, rolls, charcoal and cooldrink will cost, then check it all fits.
Afterwards they reflect on where they overspent and what they forgot.
It's the Tip to Try in action: a real, low-cost experience that doubles as a proper money lesson.
Print it, hand over the pen and let them run the braai this weekend.
