How to Save for Something You Want (for Kids)

The Short AnswerPick one thing you really want. Find its real price (with tax). Figure out how much money you can add every week. Divide. That’s your number of weeks — and a plan beats wishing, every time.

Step 1: Pick One Thing

Saving for three things at once means getting none of them for a long time. Pick the one you want most. A good test: if you still want it two weeks from now, it’s a real goal — not just an “I saw it in an ad” want. Write it down, draw it, or print a picture of it and stick it somewhere you’ll see it every day.

Step 2: Find the Real Price

Look it up with a parent — and remember the sneaky part: sales tax. Most states add roughly 5–10% on top of the sticker price, so a $60 game really costs about $64–$66. (A few states have no sales tax at all; a parent will know which kind you live in.) Round up either way. It’s much better to have money left over than to be a dollar short at the counter.

Then ask the other half of the question: does it have to be brand new? The same game, bike, or pair of shoes bought used or on sale can cut weeks off your wait — sometimes half of them. Our guide to finding the best price shows you what holds its value, when things go on sale, and how to shop safely with a parent.

Step 3: Figure Out Your Weekly Money

Add up what actually comes in each week: allowance, jobs you do, birthday money you set aside. Then decide how much of it goes to the goal. Here’s the honest truth: saving all of it never works — you’ll quit by week two. Saving most of it, while keeping a little to spend, works. Slow and steady really does win this one.

Step 4: Do the Math (or Let the Calculator Do It)

Price, minus what you already have, divided by your weekly amount = weeks until it’s yours. Our Can I Afford It? calculator does this instantly and even tells you the date. Twelve weeks sounds long — but it’s one soccer season, and at the end of it the thing is yours, bought with your own money. That feeling beats any gift.

How Do I Not Spend It by Accident?

Make it hard to reach. A jar with tape over the top and the goal written on it, an envelope a parent keeps, or a real savings account at a bank. Wherever it goes, keep it somewhere a little brother or sister can’t get to it.
Track every dollar you save. Coloring in a progress bar is weirdly powerful — ask a parent to print one, or just draw ten boxes and fill one in each week.
Wait one day before spending money on anything. Most “I need this right now” feelings are gone by morning.

What to say to your parent“I’m saving for ___, and it costs about ___. Can you help me keep the money somewhere safe so I don’t spend it by accident? And are there extra jobs I could do to get there faster?”

Stop and tell an adult if…anyone offers to sell you the thing you’re saving for outside a real store, asks you to send money or a gift card first, wants to meet you somewhere alone, or tells you to keep the deal secret from your family. Never buy from a stranger without a parent with you — see how to spot a scam.

Want to see something amazing? Money you keep saving doesn’t just sit there — it grows all by itself. Try the compound interest calculator and watch what your weekly savings turns into by the time you’re grown.

Back to Money Questions for Kids.

References & Resources

CFPB: Money as You Grow — Saving activities for kids and parents.
Delayed gratification — the idea behind the famous Stanford “marshmallow” experiments — is the skill of waiting now for something better later. Later research found the original studies overstated how much a single test predicts a child’s future, and that family circumstances explain much of the effect. What holds up is simpler: waiting for a goal is a habit that can be practiced, and saving is one of the easiest ways to practice it.
Sales tax varies widely by state and city; a handful of states charge none at all. The Tax Foundation’s state and local sales tax rate table shows current rates.