Children and Money, Financial Literacy, The Heavy Purse

Setting Save, Spend and Share Goals with Your Children

Goal-setting doesn’t always sound very fun, but it can be! For my daughters, I turned goal-setting into a game where their magical coins create joy for themselves and others. Now they love playing save, spend and share and view money in a positive manner.

Let me walk you through the process of setting individual goals.

Step 1: Make it fun.

Step 2: Ask the right questions:

Question #1: What is something that would make you really happy and is worth saving your money for and not spending it right now?

Question #2: What is something you want right now?

Question #3: Who is someone you love and want to share your money with? What can you do to bring joy into their lives?

Step 3: Set up their money jars or envelopes and let them allocate their money into the respective jars.

Once they’ve set their goals, remember to keep them excited about them. Every time your kids earn or receive money–ask them how much will go towards their save, spend and share goals. When they get a case of the “I wants” remind them of their goals and the impact unplanned splurges will have on them. And when they achieve their goals, celebrate.

It’s my hope your children will enjoy playing save, spend and share as much as my girls do. I encourage you to share this post with family and friends who want their children to have a healthy relationship with money too. If you have any questions, please leave me a comment below, post it on facebook or email me at


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  • Meet Shannon

    "As a Certified Financial Planner, it is my passion to help individuals and families build a healthy relationship with money. I look forward to helping you raise financially confident kids.” - Shannon Ryan