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Teaching Kids About Money During Back-to-School Season

Read this blog to see how you can educate your kids about money

Helping Kids Learn About Money at Back-to-School Time

The back to school season isn’t just about new backpacks and notebooks; it’s the perfect time to teach your kids about money. Every purchase is a chance to build better habits. With a bit of planning, you can show your kids how to budget, save, and make smart choices that last far beyond the classroom.

In this post, we’ll share 10 simple and effective ways to teach kids about money while helping you shop back to school deals that won’t break the bank.

1. Start With a Back-to-School Shopping List

Before you head to the store or browse online, sit down with your child and make a back to school shopping list. Include everything they’ll need: pencils, paper, clothes, lunch boxes, backpacks, and more.

Involving them in this step helps build planning skills. Let them check flyers and find deals online. Canadian sites like Savvy New Canadians or ThriftStore.ca offer great advice and affordable shopping options.

2. Shop Back to School Deals Together

This is a great chance to shop back to school deals while teaching your kids about comparing prices, using coupons, and buying only what they need.

Teach them how buying generic or store-brand items can stretch their budget. Encourage them to look at online marketplaces like Kijiji to find second-hand supplies and clothing in good condition.

3. Set a Budget and Stick to It

Give your child a specific amount to spend. For example, “We have $100 for school supplies and clothes.” This helps them learn to prioritize and see how fast money can go.

Let them decide how to use the money based on the list. If they want something more expensive, show them how to choose between items—or save for the extra cost.

4. Pay With Cash or Debit

Avoid using credit. Instead, pay with cash or debit when possible. This shows kids the importance of only spending what you have.

For helpful tips on saving and budgeting, check out the Speedy Cash blog on money-saving hacks.

5. Teach the Difference Between Needs and Wants

Back to school season brings lots of “wants.” But it’s important to focus on “needs” first.

A basic backpack is a need. A brand-name one may be a want. Let your child pick one or two extras, but show them how to take care of the important items first.

These small lessons will build long-term money smarts.

6. Help Them Set Savings Goals

If your child wants something that isn’t on the list, like a new video game or stylish shoes, help them set a savings goal. You can use birthday money, lunch allowance, or small jobs around the house to reach it.

Teach them how saving a little bit each week can lead to something big.

7. Teach Generosity and Community Values

Back to school is a great time to talk about helping others. If your budget allows, pick up some extra supplies to donate to local schools or programs.

Let your child help pick out the items. This builds empathy, teaches sharing, and shows that giving is a part of financial wellness.

8. Use Real-Life Examples Daily

Make money part of your daily conversations. Let your child compare prices at the grocery store. Show them how much change they get back. Ask them questions like, “If you had $20, what would you buy?”

These moments help money make sense.

9. Use Allowances to Teach Budgeting

If your child gets an allowance, help them break it into three categories:

  • Spend now
  • Save for later
  • Give to others

This simple system shows how to handle money with purpose. Let them make small mistakes so they learn from them. Be there to guide, not control.

10. Keep the Lessons Going All Year

Don’t stop once school starts. Money lessons should be part of everyday life.

Talk about saving for holiday gifts, budgeting for school field trips, or packing lunch instead of buying. These ongoing lessons will help your child grow into a smart spender.

How to Teach Kids About Money: Final Thoughts

Teaching kids about money doesn’t require fancy lessons. It takes time, real-life examples, and patience. Back to school season is a great opportunity to show them how budgeting and smart choices can lead to big rewards.

They’ll thank you for it, not just now, but in the future too.

Loan Information From Speedy Cash (Canda)

Sometimes, families need a little help making it through Back to School season. If you’re in that spot, Speedy Cash offers payday loan options in-store and online across many provinces.

Loan Requirements:

  • One piece of Government Picture ID
  • Pre-Authorized Debit Form (PAD)
  • 30–60 Day Bank Statement
  • Proof of Address
  • Most recent Pay Stub (if your income is not via Direct Deposit)

Please note: As of June 1, 2025, Speedy Cash no longer offers cheque cashing services.

Physical locations are available in:

  • Alberta
  • British Columbia
  • Nova Scotia
  • Saskatchewan

Online loans are available in the provinces listed above, and:

  • Manitoba
  • New Brunswick
  • Newfoundland & Labrador
  • Ontario

Loans are not available in PEI, Quebec, or any territories (Yukon, Northwest Territories, Nunavut).

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