This article is created in conjunction with Kids’ Lit Quiz™, a fun literary competition where children aged between 10 and 13 answer questions on children’s books ranging from classics to comics. This article is jointly written by National Library Board (NLB) and POSB, the official sponsor for Kids’ Lit Quiz™ Singapore 2018.


Where Does Your Money Come From?


You could receive school pocket money from your parents every week or every month, and you may also get red packets from your relatives during special occasions like your birthday and Chinese New Year. All this money which you have received is called your income.


There are many things you could spend the money on, such as food and snacks during recess, a new notebook from the school’s stationery shop, public transport, clothes, or even toys! The money which you have spent is called your expenses.


You can choose to set aside the portion of income that is not spent on your expenses to be your savings!

Do you spend all your income on your expenses, or is there a better way to manage your money? Well, a great way to make the most of your money is to carefully spend it.

Firstly, think about what you NEED. These are things that you absolutely must have to live a healthy life. For example, you need food to give you energy in school and the bus fare is essential for you to get home after school.

Next, consider what you WANT. These are things that are nice to have but you can live without. It would be cool to own a motorised scooter, but you don’t actually need it since you already have a trusty bicycle.

What is most important is that your expenses do not exceed your income. This ensures that some of your money will be saved, which can come in useful for a rainy day ahead.

How well can you save? Complete the puzzle below to return the gold coin into the piggy bank! (Click on the image to print it out as a pdf.)

Your friendly NLB librarians have picked out these awesome books where the characters learn to manage their money wisely. Check them out at a public library near you!

Pretty Penny Makes Ends Meet by Devon Kinch
Call No.: JP KIN
All Rights Reserved, Random House, 2013.

Daddy’s Back-to-school Shopping Adventure by Alan Lawrence Sitomer
Call No.: JP SIT
All Rights Reserved, Stone Arch Books, 2014.

Benji Franklin: Kid Zillionaire by Raymond Bean
Call No.: JS BEA
All Rights Reserved, Stone Arch Books, 2014.

Cleo Edison Oliver, Playground Millionaire by Sundee T. Frazier
Call No.: J FRA
All Rights Reserved, Arthur A. Levine Books, 2016.

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