Save with them.Īnother great way to help create savings goals for kids is to develop one of your own. By dividing up their bigger goal into small increments that seem manageable, you are teaching them that it is easy to manage their financial future in the same way. Just because a goal seems impossible in their minds, doesn't make it impossible. You can help your kids to dream big by encouraging them to come up with a large goal that can easily be broken down into increments to track. This is a great tool for teaching younger kids not only about savings but about how percentages and fractions work toward creating a whole. Print multiple copies of this tracker and use each one for smaller goals that fit into the one large goal.This gives them a wonderful visual method of tracking their ultimate goal.īreak down the goals into 4-5 parts and create a tracker sheet for each part.Īs they fill in the thermometer on each tracker sheet, they can then add that amount to the main goal tracker. One of the benefits of our printable savings goal tracker is that you can help your kids keep their eye on the prize and dream big. Showing your kids that a savings goal doesn't have to be a huge thing can help them to realize that their finances are manageable in small increments until they learn to manage larger amounts. These are all goals that depending on the age of the child and their means of earning money, are doable in a short amount of time. This gives them something that is doable in a short amount of time so they don't lose sight of the goal and get discouraged small goal could be saving enough for a new action figure, an ice cream treat, or the season pass at a local amusement park. A $20 goal seems like a lot to a preschooler, but not much to a teen.ĭepending on the age of the kids you are working on finances with, set a reasonably small goal to begin. Have a yard sale and split proceeds with your child.īe sure to print out a free copy of our Blank Check Templates for Kids.Īs mentioned earlier, one way to really help your kids create a savings goal that is manageable is to start small. Knit or crochet items to sell on eBay, Etsy, or Amazon Handmade Have a bake sale for cookies, bread, muffins, or other homemade foods Open a lemonade stand in the neighborhood Helping in gardens by weeding, fertilizing, and harvesting produce You may also want to encourage them to think outside the box by doing things for others to earn extra money.ĭepending on their ages, there are many extra chores and services they can do that will earn money.Ĭlean other houses (neighbors, friends, and family) Helping with your work-at-home business (posting to social media, answering questions, etc.)Ĭleaning your bathroom, bedroom, closet, or other chores you would typically handle.Ĭleaning the garage, attic, or storage areas and organizing them. Mowing the lawn or outside landscaping choresīabysitting younger siblings (for tweens/teens) This list should include things that you need help with, but wouldn't traditionally ask them to do. Set up a list of extra chores that will earn more in their allowance. Help them think outside the box of money that has been gifted or earned from a weekly allowance. You can also get creative in how they are making their money to reach the goal. This goal tracker will show them how close they are to their goal, and in the process teach them a bit about percentages and maybe even fractions as they whittle away at their goal each week. If your child is saving to buy something that costs $20 and they only earn $4 per week, it can seem like it will take forever. Getting creative includes using things like our free printable savings goal tracker to help them keep track of how close they are to their goal. Whether they are receiving money as a gift for birthdays, or they are earning money doing chores, they need to learn to save and make wise choices. Get creative with tracking their savings.Īs you begin working with your children and their finances, you want to give them a sense of responsibility.Įven at a young age, children can become responsible for their own money. Later in life, they will learn that savings aren't always about fun things, but for now, encouraging them with goals that will keep them on track is what is important. Their goals need to be for things that are special and unique. You can't say, “save for an ice cream cone,” then turn around and buy them ice cream the next day. If you really want to get your kids interested in saving money, you need to give them a goal worth reaching. Savings Goals for Kids Encourage them to save for something they wouldn't normally buy
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