A 15-YEAR-OLD TOOK OVER HER FAMILY BUDGET AND SAVED ALMOST $2,000 IN A MONTH

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Would you hand the family budget over to your teenager?

One Wollongong mum did exactly that, and the results were pretty impressive.

Fifteen-year-old Molly took charge of the household finances for a month on the ABC iview series Teenage Boss: Next Level, and managed to save her family just under $2,000.

How Molly ran the family budget

Molly lives with her mum, Katrina, and her younger sisters, Daisy, 14, and Bonny, 12.

As reported by ABC News, she was given control of the money for a month and had to make it stretch.

She did not hold back.

Red meat was swapped for fish the family caught themselves.

Her mum's weekly "me time" dinners were scrapped.

Spending on clothes and makeup was cut back.

Molly also reduced school drop-offs and pick-ups to save on petrol.

On top of all that, she took on the meal planning, the grocery shopping and the cooking.

The results

By the end of the month, Molly had saved just under $2,000.

"I've learned a heap about money and spending and saving," she said.

Interestingly, she admitted the family would not keep going at that pace.

The extreme budget was not sustainable in the long term, which is a valuable lesson in itself.

What the experts say

Katrina Samios, chief executive of the Financial Basics Foundation, told the ABC that honest, age-appropriate conversations about money are important.

She suggested framing any changes as a plan rather than a crisis, so children feel involved rather than anxious.

Ferdi Botha from the Melbourne Institute highlighted the importance of financial literacy programs in schools.

Why getting kids involved works

Children often have no idea how much everyday life costs, from the weekly shop to the petrol in the car.

Giving them a glimpse behind the curtain can help them understand why families make certain choices.

It can also make them more invested in saving, especially if they can see the results.

Teens in particular often rise to the challenge when they are trusted with real responsibility.

It can also spark useful conversations about saving, borrowing and the true cost of the things we buy.

Those lessons can stay with them for life, long after they leave home.

And sometimes they will spot savings that busy parents have simply overlooked.

Try it at home, the gentle way

You do not need to hand over the bank card to get your kids involved.

Start by letting them help plan a week of meals and write the shopping list.

Give them a set amount to spend at the supermarket and see how far they can make it go.

Talk about the difference between needs and wants, and let them suggest a few savings of their own.

You could set a family goal, such as a day trip or a special treat, and put the money you save towards it.

Celebrate the wins together, however small, as it keeps everyone motivated.

Keep the tone light and positive, so money talk feels like teamwork rather than a lecture.

Older children could even track spending in a simple app or notebook and report back each week.

You might be surprised at how quickly they start questioning those impulse buys.

A lesson for all of us

Molly's month shows that small changes can add up quickly.

It also shows that cutting back too hard can be tough to stick with, so balance matters.

The best family budget is one that everyone can live with, with a little room for fun.

And if a 15-year-old can find almost $2,000 in savings, perhaps it is time the rest of us took another look at our spending, too.