How can you tell they’ve got it: Saving Money?

If they’ve got it, you’ll see things like: Explain why someone might save money instead of spending it straight away; Describe a savings goal they could set and how they would work towards it; Tell you what delayed gratification means in their own words (waiting to get something better). Or just try it together: If your child received some birthday money, could they explain why it might be smart to save some of it rather than spending it all at once?

Life Skills Money & Finance Ages 5–7

Saving Money

Your child knows why we save: not spending now means having more later. They can set a savings goal and work towards it in a jar or money box.

In curriculum terms

Why people save money; piggy banks and saving jars; setting a savings goal; the idea that not spending now means having more later

Ages are typical, not deadlines — follow your child’s pace. How to help at home →

How to tell they’ve got it

Tick these off as you see them — no test required.

Explain why someone might save money instead of spending it straight away
Describe a savings goal they could set and how they would work towards it
Tell you what delayed gratification means in their own words (waiting to get something better)

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Try this together

If your child received some birthday money, could they explain why it might be smart to save some of it rather than spending it all at once?

Where this sits on the map

Stuck here? Check the skills it builds on first. Confident? Here’s what it unlocks.

Builds on

What Money Isages 5–7Must understand what money is before learning to save it

Needs & Wantsages 5–7Understanding needs vs wants helps motivate saving decisions

Saving Moneythis skill · ages 5–7

Unlocks

Banks & Savingages 7–9Must understand saving before learning about banks as saving institutions

Budgeting Pocket Moneyages 7–9Must understand saving concept before budgeting a fixed amount

solid = must come firstdashed = helps

Curriculum alignment

Where this fits in the official school curriculum — our best automated guess, not yet checked by a person.

This skill sits outside the F–6 Australian Curriculum — no candidate code matched (v0.1). No NSW K–6 outcome code matched (v0.1). No Victorian Curriculum 2.0 code matched (v0.1).

Nearby on the map

Buying Thingsages 5–7 Coins & Notesages 5–7 Jobs People Doages 5–7 Looking After Moneyages 5–7

All Money & Finance skills →