🎯 Raising Savvy Spenders: How Olio, Ice Cream Mishaps & £100 Windfalls Teach My Teens to Save

 

Frugality and teenagers—like trying to save leftovers in a house with two hungry teens, it can be done, but it takes effort, patience, and the occasional bribe in the form of pizza.

I’ve been living the frugal life for a while now—not just to save money but to help the planet. Through Olio, we’ve saved food, money, water, and CO₂ (and probably a few items we didn’t even mean to save—who knew three-day-old focaccia could bring such joy?). It's become a part of how we live.

And now, as my two boys—Kai and Ted—are growing into young men, I'm trying to pass these habits on.

Meet My Two Teen Wallet Warriors

Let me introduce you to my frugal(ish) team:

  • Kai: Loves money. Like, seriously loves it. He’s the kind of kid who will turn the lights off behind you to “save the leccy” and remind you you’ve gone 43p over budget.

  • Ted: Our anime-loving, Pokémon-obsessed free spender. Ted has a talent for making birthday money disappear faster than you can say “Charizard.”

Both boys recently received £100 each from their Nationwide Fair Share accounts—a great opportunity to talk about saving, spending, and being smart with money. We used to manage their savings for them, but when they turned 16, we had them open their own Nationwide current and savings accounts and transferred the money we’d been putting aside into their new accounts. Now, they’re learning what it’s like to be responsible for their own funds.

So How Do You Teach Teens to Be Frugal Without the Eye-Roll?

Honestly? You make it real. You make it funny. And sometimes, you just accept the eye-roll and keep going anyway.

Here’s what’s working for us:

1. Make Frugality a Family Lifestyle (Not Just a Lecture)

Frugality isn’t a punishment—it's a team effort. We use Olio as a family, and the boys help us collect food that would otherwise go to waste. They know that by grabbing those leftover bagels or surprise tomatoes, we’re not only saving cash but also helping the environment.

2. Let Them Make Choices (and Mistakes)

Ted may choose anime merch over savings. Kai may hoard every pound like a dragon guarding treasure. That’s okay. The key is giving them space to learn and reflect.

Did Ted blow his money on another limited edition Funko Pop? Probably. But next week, when he wants to go to the cinema and doesn’t have enough left, that’s a teachable moment.

3. Set Realistic Goals (and Celebrate Wins)

We’ve started setting small savings goals. Whether it's £20 towards a new pair of trainers or £50 towards a future game console, we cheer when they hit a milestone—no matter how small.

We make a big deal out of it. "You saved £10? That’s practically Warren Buffett-level stuff, mate."

4. Talk About Money (Without the Shame)

We’re open about bills, budgeting, and even our own past money mistakes. I’ve told them the funny ice cream story (you remember that one—neurodivergent parenting + food + a little chaos = unforgettable). Talking honestly means they see money management as a life skill, not a punishment.

5. Use Real Rewards

Sometimes, we throw in an extra reward if they help with an Olio run, or if they make a smart spending choice. It's not bribery—it's... positive reinforcement. (That’s what I’m calling it anyway.)

Final Thoughts

Teenagers and frugality don’t have to be enemies. It's about planting seeds now and letting them grow in their own way. Not every teen will embrace saving straight away—one might hoard, one might spend—but both are learning.

If I can teach my boys that saving money isn’t about missing out, but about having choices later, then I’ll consider it a win. If they help save the planet a bit while they’re at it? Even better.

So to all the parents out there, just remember: it’s not about perfection—it’s about progress (and maybe grabbing a free pack of muffins along the way).

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