Exercise 3

Create a Goal.

 

Helping kids understand goal-setting works best when you use their own goals. Get your kids started with financial goal-setting by using this simple worksheet. 

___________'s Savings Goal

            (Child's Name)

1.  In the space below, brainstorm several things you’d like to buy (such as a cell phone or a car) or do (such as go to the movies or go to college). Next to each, write whether it is a short-term (less than 2 years), medium-term (2-15 years), or long-term (15 years or more) goal.


____________________________________________________________

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2.  Choose one of your most important goals and write down how much you think it will cost.

My goal is: ________________________________________________

Estimated cost: ____________________________________________

3.  How long do you think it will take to reach this goal? What are some factors that might influence that length of time? Explain.

____________________________________________________________

____________________________________________________________

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4.  Think about how much money you would like to set aside each week or month in order to reach your goal and write down three things you can do to help you save. How will you earn the money you need? Is there anything you might have to give up in order to save enough money to reach this goal? (For example, could you earn extra money by walking dogs? Or could you spend less money on snacks?)
1. ___________________________________________________________

2. ___________________________________________________________

3. ___________________________________________________________

 

Once you set your goal, strive to achieve your dream!