4 simple money lessons for year 7s

The start of secondary school is a great time to build your child’s money confidence. With a little guidance, your tween can learn value, choice, and responsibility; developing healthy money habits that last well beyond school.

new term, new habits

The start of a new school year often feels like a reset; new uniform, new teachers, and, for children moving into secondary school, the first real taste of independence. They may be travelling to school on their own, balancing homework with clubs, and forming new friendships. 

This is also an ideal time to encourage them to take a step forward in managing money.
At this age, tweens are old enough to understand value, choice and responsibility, but still young enough to learn from mistakes in a safe environment.

Teaching financial independence isn’t just about handing over pocket money, it’s about providing opportunities to practise and offering guidance along the way.

Here are four practical ways to help your tween build money confidence this term.

1. start small, but keep it consistent

“Hand-to-mouth” pocket money, or giving them cash whenever they ask, can give the impression that money is endless, when in reality, it’s not. A regular allowance, however small, helps your child understand the concept of income and teaches them how to pace their spending.

• Set a routine
  Weekly or fortnightly works best. Pick a day, stick to it, and keep the amount steady. Even £5 a week is enough to build good habits.
  
• Let them feel the pinch
  If they spend it all on Monday, resist the urge to top it up. Running out is part of the learning process.
  
• Encourage tracking
  Whether through a notebook, an app, or a quick end of the week chat, get them to record what comes in and what goes out.
  
• Encourage savings
  Suggest they put aside 20–30% of their allowance each week. Over a term, even small amounts add up, giving them a sense of achievement and progress toward a goal.

The real value here isn’t in the amount of money that comes in or going out - it’s in the predictability and accountability. Over time, they’ll learn that today’s decisions shape tomorrow’s choices.

2. give them real choices and room to make mistakes

By secondary school, spending decisions can feel more meaningful for your child. Snacks at breaktime, saving up for clothes or games, or buying birthday presents. This is also when many parents may need to resist the temptation to micromanage every choice.

• Wants vs needs
  Help them distinguish between the two. A new hoodie? That’s a want so let them save for it using their allowance. Lunch money? That’s a need. If they spend it too quickly, talk them through what that means and how to plan better next time.
• Budgeting for events
  If there’s a birthday party coming up, sit down together and agree on a sensible gift budget, then let them decide how to manage it.
• Learning through regret
  Spending £10 on novelty stationery might not be the wisest choice, but the real value is in the reflection afterward. A gentle conversation about how they feel and what they might do differently next time will stick far more than a lecture.

Independence is built on trial and error. Better they waste £10 now than a hundred when they’re older.

3. turn everyday life into a classroom

The best money lessons often come from daily life. Create natural teaching moments experience how money works in real situations.

• Shopping trips
  Hand them part of the list and a set budget. Let them weigh up brands, prices and value for money.
• Travel costs
  If they use buses or trains, compare daily fares with weekly passes. Ask them to work out which option makes the most sense.
• Family life
  Talk openly about the cost of a takeaway versus cooking at home, or how small extras like subscriptions can quietly add up over time.

Linking pounds and pence to lived experience makes money real. It stops being “just mum or dad’s card” and becomes a tangible tool with consequences.

4. lead by example (yes, they're watching)

Your kids will be able to spot any disconnect between what you say and what you do. You can’t teach them about money while telling them to budget carefully but splurging on takeout or impulsively upgrading your wardrobe or gadgets; they notice the inconsistency immediately.

• Talk it out
  Explain why you’re choosing one brand over another, or why you’re saving for a family holiday instead of splurging on smaller treats.
• Be honest
  If something is too expensive, don’t be afraid to say so and explain why. It might feel a little awkward to admit limits, but doing so normalises budgeting and shows that managing money is a practical life skill, not a punishment
• Share your goals
  If you’re saving for a new car, a home renovation, or another big expense, let them see the process. From setting a target to tracking progress, involve them in the small milestones and celebrate together when you reach your goal.

Children learn more from what they see than what they’re told. By talking through your own money choices, you show them how decisions are made. When you model openness, consistency, and thoughtful decision making, your kids will naturally absorb these habits and gain confidence in handling money themselves.

final thoughts

While these tips aren’t the only ways to teach your child about money, they do offer a meaningful opportunity to build lifelong skills. By practising saving, spending and decision making in a safe, guided environment, you can support your child to develop confidence and responsibility.

The earlier they start, the stronger their foundation will be when adult financial pressures arrive, helping them make informed decisions with independence and assurance.