Goals Are Like Gold

Set a Savings Goal. Lesson 3

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

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

Teaching children to set goals helps them think critically and plan for what they want to achieve and dream about.

Goals also help kids develop focus, improve concentration, and build accountability.

Additionally, setting goals gives children the opportunity to master essential life skills, including money management, time management, organization, and prioritization.

Good Goals

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."

4 Easy and Fun Steps to Teach Your Kids to Set Saving Goals

Have kids:

• Listen to one or all of the songs hyperlinked in this blog, starting with Get in the Habit. Then, have them complete the activities associated with each blog. Parents, grandparents, and other interested adults, you may want to start with our Parent Guide for the song Get in the Habit!

• Read the story Sammy's Big Dream. Review and discuss pages Pages 11 and 16. These pages share the role goals played in Sammy Rabbit accomplishing his big dream

• Follow up the song and story with a discussion

• 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.

Sammy Rabbit says: "You can do it. Now, get to it!"

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

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.

Related Reading and Resources

• Money Lesson 1 Parents Should Teach Kids: Saving Money is a Great Habit!

• Money Lesson 2 Parents Should Teach Kids: Dream Big - Aim High!

• Money Lesson 4 Parents Should Teach Kid: Have a Strong Work Ethic

Contact Sammy

If you have questions, suggestions or would like learn more about Sammy Rabbit and his mission to teach kids great money habits and other important life skills, contact us!

Introducing Sammy Rabbit's Money School

Let's get kids financially literate!

Sammy's Money School is a one of kind membership with a treasure trove of activities, stories, songs, videos, arts, crafts, live virtual experiences, and challenges to learn all about money, the secret strategies of the rich and wealthy, as well as the habits that will help you make your dreams come true! Learn more about joining the Money School.