Track It to Hack It: Helping Teens Track Spending

Teaching teenagers to manage their money doesn’t have to be a battle. In fact, one of the simplest, and most powerful, habits you can encourage is helping them track where their money actually goes. Whether they’re earning from a part-time job, receiving pocket money, or getting cash for birthdays, learning to budget starts with understanding their own spending habits.

Why Tracking Matters

Teenagers often get their first taste of financial independence with their own bank account or debit card. But without any actual visibility into their spending, it’s easy for that money to disappear — $10 here, $5 there — and before they know it, they’ve blown through their weekly budget on bubble tea and late-night Macca’s runs.

Tracking their spending helps teens connect the dots between what they earn, what they spend, and what they save. It encourages them to think twice before making impulse purchases, and it lays the foundation for smarter money choices in the future — whether that’s saving for a phone, buying their first car, or even investing down the track.

Make it Easy

The good news is budgeting doesn’t have to mean spreadsheets and calculators. These days, there are heaps of free tools designed to help young people manage their money — no financial degree required.

Apps like Frollo are fantastic for teens. It links to most major Aussie banks and automatically tracks their transactions. Spending gets sorted into categories like food, shopping, transport, or entertainment, and they can see exactly how much they’ve spent (or saved) in each area over time. Frollo also lets users set spending goals, view trends, and even get a ‘money score’ to help motivate better habits.

Other options include:

• BudgetEzy – good for manual entry and setting weekly or monthly budgets.

• Banking apps – Many banks like CommBank and NAB now include spend tracking tools directly in their apps for under-18 accounts.

If your teen prefers a more hands-on approach, a simple spreadsheet or budget journal can work just as well. Encourage them to make it their own — use colour coding, stickers, emojis, or even track “no spend” days like a challenge. The point is to make it engaging, not overwhelming.

Start with small steps

Not sure where to begin? Here’s a simple 3-step method to help your teen ease into money tracking:

1. Record everything for one week.
   Just a rough list of what they spent and where. Even better if they can jot down how they felt about the purchase afterwards — was it worth it?

2. Group spending into categories.
   Things like food, transport, online shopping, gaming, or subscriptions. Seeing where the money’s going in chunks helps identify patterns.

3. Set one small goal.
   Maybe it’s cutting Uber Eats to twice a week, or saving $10 from every paycheck. Small wins are motivating — and they add up quickly.

Keep the convo going

Money chats don’t have to be awkward or lecture-y. The more you talk about money like it’s a normal part of life — just like eating well or brushing your teeth — the more confident your teen will feel asking questions, setting goals, and owning their financial future.

So, next time they’re wondering why their bank balance is lower than expected, help them dig into it. That’s where the real learning starts. And with the right tools and a little encouragement, they’ll be well on their way to mastering their money — long before adulthood kicks in.

Any advice is general in nature only and has been prepared without considering your needs, objectives or financial situation. Before acting on it, you should consider its appropriateness for you, having regard to those factors. Before making any decision about whether to acquire a financial product, you should obtain the Product Disclosure Statement.