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

Parents, if there's one lesson that can pay lifelong dividends, it's this:

Teach your kids that goals are like gold.

Why? Because goal-setting delivers a tremendous return on investment (ROI). It helps children take control of their choices, build critical thinking skills, and develop the discipline they’ll need to succeed in money—and in life.

When kids learn how to set and work toward simple, age-appropriate goals, they begin to:

  • Think ahead

  • Stay focused

  • Delay gratification

  • Take pride in progress

  • Understand the power of step-by-step effort

Whether it’s saving for a toy, finishing a book, or learning to ride a bike, these early experiences shape confident, capable kids—and eventually, thriving adults.

Goals Build Smart Habits and Life Skills

Goal-setting helps children strengthen valuable skills like:

  • Money management

  • Time management

  • Organization & prioritization

  • Resilience & perseverance

But here’s the catch: not all goals are created equal. That’s why it’s important to teach kids how to set SMART goals.

What Are SMART Goals?

Keep in mind, not all goals are created equal. SMART is a simple goal-setting framework that makes goals easier to understand—and achieve.

  • Specific – Clear and detailed: “I want to save $50,” not just “I want to save money.”

  • Measurable – Trackable: You can mark progress on a chart or with visuals.

  • Achievable – Realistic and within reach given their age and resources.

  • Relevant – Personally meaningful to your child’s wants or dreams.

  • Time-Bound – There’s a clear deadline that adds a sense of urgency.

Example of a SMART goal:

“I will save $50 over the next 6 months by putting $2 into my savings jar every week, so I can buy a new bicycle.”

Real-Life Example: Turning a Dream Into a Goal

When 7-year-old Mia saw a skateboard at the store, she lit up. Her parents turned her excitement into a learning opportunity.

They helped Mia set a SMART goal. Together, they:

  • Printed a savings tracker

  • Added a photo of the skateboard to the fridge

  • Made a weekly savings plan

  • Matched her savings as an incentive

Three months later, Mia rolled proudly down the sidewalk—her dream achieved and her confidence soaring!

When Should You Start?

Ages 5, 6, and 7 are great starting points. That’s when kids are beginning to:

  • Understand cause and effect

  • Make simple choices

  • Enjoy a sense of accomplishment

This is a powerful developmental window where goal-setting can become both fun and meaningful. It’s the perfect time to build habits that stick!

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 activities | 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

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