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Buckets of Money

Youth Tips & Activities

If you want to manage your money like a pro, look no further than the Three Bucket Method. It sounds strange, but it’s an easy way to learn about money management, spending wisely, and helping others—and it works at any age. Though the activity below is designed for kids, adults may enjoy it too. Let’s dive in! Buckets of money graphic

Like the name says, we’re going to be sorting our money into three buckets:  

  1. Save it: Saving is all about keeping our money safe for later. We save to reach specific goals or to be ready in case of surprises.
  2. Spend it: This means using our money to buy things we want, like a new video game, concert tickets, or even a car (eventually).
  3. Share it: We can use our money to help others, too, by giving it to people or organizations that make a positive difference in the world. For example, we might donate money to a food bank so they can provide meals to those who need them. 

Now, to get started:  

  1. Find your perfect containers: Find three containers that can hold your money. It could be a jar, a decorated box, or something unique that sparks your imagination—don’t be afraid to get creative. Be sure to label each container as “Save,” “Spend,” and “Give.” 
  2. Set your goals: Think about what you want to do with your money, then make a plan for how much you’d like to put in each container. This might look like, “I want to save half of my money each month,” or maybe, “I want to set aside $20 to donate.” If you need ideas, ask an adult for suggestions. 
  3. Split your money: As you earn or receive more money, divide it among your three containers. Remember to keep track of how much is in each container, so you know your progress along the way. Consider using a journal or even writing the amount on the jars themselves.
  4. Celebrate: When you’ve saved enough to reach a goal, it’s time to celebrate! Let’s say you saved $50 for a new video game, and you’ve reached that amount. After buying the game, pat yourself on the back, brag to your friends, and then set a new goal and start the process again.  

With these steps, you’ll become a master at managing your money. By saving, spending wisely, and giving back, you’ll develop valuable financial skills and make a difference in your community. So, time to grab your containers, set your goals, and let your money journey begin!