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Money Lesson 3 Parents Should Teach Kids: Goals Are Like Gold

by Team Sammy

Teach Kids Goals Are Like Gold

Parents, we encourage you to teach and talk to your kids about setting goals—especially money goals—starting with a savings goal!

Why

Goals are like "gold." They deliver a tremendous return on investment (ROI).

Teaching children to set simple, age-appropriate goals helps them think critically, plan ahead, and build important life skills like focus, responsibility, and resilience. It shows them that progress happens step by step—and that with intention and effort, they have the power to turn dreams into achievements.

Whether it’s saving for a toy, finishing a book, or learning a new skill, these early goal-setting experiences lay the foundation for lifelong habits. Along the way, kids also strengthen essential abilities like money management, time management, organization, prioritization, and focus.

Keep in mind, not all goals are created equal. Good goals—often called SMART goals—are:

  • Specific: They are clear, detailed, and easy to understand. Specific goals eliminate confusion.

  • Measurable: They include criteria to track progress and evaluate success. Measurable goals make it easy to celebrate progress.

  • Achievable: Goals should be realistic and attainable, considering the available resources and constraints.

  • Relevant: They should align with broader dreams, values, or priorities to ensure they stay meaningful and motivating.

  • Time-Bound: They set a specific deadline for when they will be accomplished. Time-bound goals create urgency and help prevent procrastination.

Here is an example of SMART goal. Instead of saying, "I want to save money," a SMART goal would be: "I will save $50 per month for the next six months to buy a new bicycle."

When

We suggest introducing kids to the concept of setting goals around ages 5, 6, or 7—right when they’re starting to grasp cause and effect, make choices, and enjoy a sense of accomplishment. This is a powerful developmental window where goal-setting can become both fun and meaningful.

How to Start: 3 Easy and Fun Steps

Have kids:

  1. Read, listen and discuss the song Get in the Habit! placing an emphasis on the lyrics: from every dollar, save a dime!

  2. Have children complete the activities associated with the song.

  3. Make a deposit with your child or children into a piggy bank, savings jar or into a savings account at the financial institution of your choice. Repeat weekly.

Access song and activites | lyrics and discussion questions.

Keep Kids Learning, Growing, and "Becoming"

Let's get kids financially literate, dreaming big, and becoming everything they are capable of becoming. Here is what you can do to educate, empower, and elevate children:

  • Collaborate and partner with Team Sammy on '1' financial education strategy in your community. See our Menu of Project Ideas or suggestion one of your own!

Contact Sammy

CONTACT Sammy today!

We welcome your questions, suggestions, and thoughts about Sammy Rabbit and his mission to help kids, families, and communities become financially literate.

Recommend Reading and Resources

Bonus Content: Insight

Distinguishing Between Dreams and Goals

Think of dreams as the "why." Dreams ignite direction and desire, giving us purpose and motivation.

Goals, on the other hand, are the "how." They serve as indicators, milestones, and measurement points to assess progress on the journey toward making our dreams a reality.

Goals help us evaluate if we're moving in the right direction and staying on the schedule we’ve set for ourselves. They provide a clear pathway and structure to achieve our dreams and acquire the things we want and need, exactly when we want and need them.

5 Outstanding Quotes and Sammyriffic Wisdom on Goals

Here are five outstanding quotes that reflect the power of goals.

(1) “Setting goals is the first step in turning the invisible into the visible.”

–Tony Robbins

(2) "If you aim at nothing, you will hit it every time."

–Zig Ziglar

(3) “A good goal is like a strenuous exercise — it makes you stretch.”

–Mary Kay Ash

(4) "Set a goal and don't quit until you attain it. When you do attain it, set another goal, and don't quit until you reach it. Never quit."

–Bear Bryant

(5) "Set goals. It's a great habit!"

–Sammy Rabbit