Spending your money

This seems to be the main reason for having money - spending it on what you need and what you want. You may well hear people on the telly talk about the spending power of children. Think about this the next time you ask mum or dad - can I have….?

Adverts try to sell us lots of things, and they aim to make you feel that you must have this toy, these shoes or that DVD. Shops want us to spend our money on their goods.

It can be fun to keep a record of your spending and see what you have used your money to buy. Keeping a record helps you to see how much money you have and then you will know what you can buy and if you need to save some money before you buy it.

You can also look back and think about the things you bought.

• Was it a good buy?
• Did you get value for your money?
• Did it break easily, or use batteries very quickly?
• How much did you play with it?
• How often did you wear it?

Doing this can help you spend your money more wisely and you will get the most value from your money. It is not worth spending £3 on a game and only playing with it once, when a £2 game or £4 game might keep you and your friends happy for hours.

Visit the pocket money section.