Top 12 Money Mistakes Parents Make: Goals

Goals?  Seriousely, now it’s all about goals?  It’s like the list of ways to mess this up go on forever, am I right?

This is a pretty easy one, so just bear with me.

Kids are not natural savers.  They aren’t born with the common sense to save something for later.  Usually, in fact, the only way to convince them to delay gratification is to promise them a greater reward later, and then deliver when they come through for you.

And with that, the kid has set and achieved the first goal.  This is really what goals are: delayed gratification.  Simple as that.

Goals: The Big Payoff!

Now that the kid has the basics, start expanding.  Have larger goals.  Have some impossible goals.  (“I want to go to the moon!”)  But always, always, ALWAYS have goals.

With kids, goals and savings go hand in hand.  Kids can’t have success in saving money unless they first establish why they’re saving – and that’s the goal.

 

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