Maybe you want a bicycle, a new book, art supplies, a game, a family
experience, or money to start a small business. Instead of feeling
discouraged or asking someone else to buy it immediately, you can create
a savings goal.
A savings goal is a plan to set aside money until you have enough for
something meaningful.
Every child can learn to save. You do not need to receive a large allowance
or earn lots of money. You can begin with a few coins or one dollar at a
time.
Saving is not only about collecting money. It teaches patience, discipline,
planning, gratitude, and wise stewardship.
What Is a Savings Goal?
A savings goal tells you:
• What you are saving for
• How much money you need
• How much you already have
• How much you will save regularly
• When you hope to reach your goal
Suppose you want a new bicycle that costs $100. You already have $20
and decide to save $10 each week.
You still need $80. If you continue saving $10 each week, you can reach
your goal in eight weeks.
Your plan would look like this:
• My goal: A new bicycle
• Total cost: $100
• Money already saved: $20
• Amount still needed: $80
• Weekly savings: $10
• Time needed: Eight weeks
A dream says, “I hope I can buy a bicycle someday.”
A savings goal says, “I have a plan to make it happen.”
Saving Teaches You to Plan
Without a plan, money can disappear quickly.
You might spend a few dollars on candy, another few dollars on a game,
and the rest on something you forget about the next day. At the end of the
week, you may wonder where your money went.
A savings goal gives every dollar a purpose.
Before spending, you can ask:
“Is this small purchase more important than the goal I am working toward?”
Sometimes your answer will be yes, and that is okay. Other times, you will
decide to keep saving because your larger goal matters more.
Planning helps you control your money instead of allowing your money—or
your feelings—to control you.
“The plans of the diligent lead surely to abundance.” — Proverbs 21:5
Saving Builds Patience
Waiting for something you want can be difficult.
Advertisements often try to make you believe that you must buy something
immediately. You may see messages such as:
• “Buy it now!”
• “Only a few left!”
• “Everyone has one!”
• “You deserve it today!”
• “Do not miss out!”
A savings goal teaches you that you do not have to act on every feeling.
You can pause, pray, think, and wait.
While you are saving, you may discover that:
• You still truly value the item.
• You find it at a better price.
• You decide to choose something less expensive.
• You discover a more meaningful goal.
• You realize you do not want it anymore.
Waiting gives wisdom time to speak.
Saving Builds Confidence
Reaching a savings goal can make you feel proud—not because money
determines your value, but because you kept a promise to yourself.
Each time you add money to your savings, you are proving:
• I can make a plan.
• I can wait.
• I can make wise choices.
• I can finish what I begin.
• I can prepare for the future.
• I can manage what God has entrusted to me.
These skills will help you with more than money. They can also help you
complete schoolwork, develop your talents, practice a sport, build a
business, and pursue future dreams.
Saving Helps You Understand the Value of Work
When you save money that you earned, you begin to understand what
things truly cost.
Imagine that you earn $5 for completing an extra family-approved job. A toy
costs $25. You would need to complete five similar jobs to earn enough
money.
Now the question becomes:
“Is this toy worth the time and work required to buy it?”
You might decide that it is. You may also decide that you would rather save
your money for something else.
Understanding the connection between work and money helps you become
a thoughtful spender.
Saving Protects You From Impulse Buying
Impulse buying happens when you purchase something quickly without
thinking or planning.
It often begins with feelings such as excitement, boredom, sadness,
comparison, or fear of missing out.
A savings goal gives you a reason to pause.
Before buying something that is not part of your plan, ask:
1. Do I need this, or do I simply want it?
2. Do I already own something similar?
3. How long did it take me to earn this money?
4. Will buying this delay my savings goal?
5. Will I still value this purchase next week?
6. Can I wait three days before deciding?
Every time you resist an unnecessary impulse purchase, you protect the
goal that matters more.
Saving Teaches Wise Stewardship
The Bible teaches that everything belongs to God. This means that the
money we receive is something He trusts us to manage wisely.
Saving is one way to practice stewardship.
“The wise store up choice food and olive oil, but fools gulp theirs down.” —
Proverbs 21:20
This verse reminds us that wise people do not immediately consume
everything they receive. They prepare for future needs.
Saving does not mean becoming selfish or afraid to spend. It means
making room for tomorrow while responsibly using what you have today.
A wise money plan can include:
• Give: Honor God and help others.
• Save: Prepare for goals and future needs.
• Spend: Purchase necessities and enjoy appropriate wants.
Giving, saving, and spending can work together.
Different Kinds of Savings Goals
Children can save for many different purposes.
Short-Term Goals
These may take a few weeks or months:
• A book
• Art supplies
• A special toy
• A birthday gift
• Sports equipment
• A family outing
• Supplies for a small business
Long-Term Goals
These may take several months or years:
• A bicycle
• A computer
• Summer camp
• College or career training
• A first car
• Starting a business
• A special trip
Generosity Goals
You can also save to bless someone else:
• Purchase food for a family in need
• Support a church project
• Buy a gift for someone
• Help an animal shelter
• Donate school supplies
• Contribute to a community cause
Saving to give teaches you that money can become a tool for love.
Emergency Savings
An emergency fund is money saved for an unexpected need.
Children may not have adult expenses, but they can still learn the principle
of preparation. You might keep a small portion of your savings available in
case you need to replace a broken school item, repair your bicycle, or
handle another family-approved expense.
How to Choose a Good Savings Goal
Choose something that is meaningful enough to keep you motivated.
Ask yourself:
• Why do I want this?
• Will I still value it after the excitement passes?
• Does it agree with my family’s values?
• Is the price reasonable?
• How will I earn or receive the money?
• Can I reach this goal without ignoring giving or important needs?
• Will this goal help me learn, create, grow, serve, or enjoy something
meaningful?
Talk with a parent or trusted adult before choosing an expensive goal or
making a purchase online.
Create Your Five-Step Savings Plan
Step 1: Name Your Goal
Write exactly what you are saving for.
Instead of writing “something fun,” write “a set of watercolor paints.”
Step 2: Find the Total Cost
Check the price with a parent or trusted adult. Remember to include taxes,
shipping, accessories, or other costs when necessary.
Step 3: Count What You Already Have
Write down how much money you have already saved.
Step 4: Calculate What You Still Need
Subtract the money you have from the total cost.
For example:
• Goal cost: $60
• Already saved: $15
• Still needed: $45
Step 5: Choose a Regular Savings Amount
Decide how much you will save each week.
If you save $5 each week toward the remaining $45, you can reach your
goal in nine weeks.
Family Activity: Make a Savings Goal Jar
Find a clear jar or container and label it with your goal.
On the label, write:
• I am saving for: __________
• My goal costs: __________
• I have already saved: __________
• I still need: __________
• I will save this much each week: __________
• My target date is: __________
Draw a picture of your goal and place it near the jar.
Each time you add money, color part of a progress chart. Watching your
savings grow can help you stay encouraged.
If you are saving money digitally, ask a parent to help you create a paper
tracker so you can still see your progress.
Ways Children Can Find Money to Save
With a parent’s permission, children may be able to save money from:
• Allowance
• Birthday or holiday money
• Extra age-appropriate jobs
• A lemonade stand
• A yard sale
• Pet care
• Helping with gardening
• Selling crafts
• Recycling where permitted
• A small family-approved business
Remember that your regular family responsibilities may not always earn
money. Some tasks are simply part of contributing to your household.
Always ask a parent or trusted adult before selling anything, working for
another person, or sharing information online.
What If You Make a Mistake?
You might spend money you planned to save. You might forget to add
money one week. Your goal might cost more than expected.
Do not give up.
Saving is a skill, and skills improve with practice.
If you make a mistake:
1. Be honest about what happened.
2. Decide what you learned.
3. Update your plan if necessary.
4. Begin saving again.
5. Celebrate your next wise choice.
One mistake does not erase your progress.
Celebrate Without Spending Everything
When you reach your goal, celebrate your patience and discipline.
Before making the purchase:
• Check the price again.
• Compare a few options.
• Read reviews with a trusted adult.
• Make sure the item is safe and appropriate.
• Ask whether you still want it.
• Consider whether buying used could save money.
• Keep the receipt when appropriate.
You may decide to purchase your goal. You may also discover that you
enjoy seeing your savings grow and want to continue toward something
bigger.
Either decision can be wise.
The Seven-Day Savings Challenge
For the next seven days, try one action each day:
• Day 1: Choose your savings goal.
• Day 2: Find out its total cost.
• Day 3: Count what you have already saved.
• Day 4: Identify one unnecessary purchase you can skip.
• Day 5: Add money to your savings.
• Day 6: Think of one safe, family-approved way to earn more.
• Day 7: Thank God for your progress and review your plan.
At the end of the challenge, share what you learned with your family.
Remember This
A savings goal turns waiting into progress.
Every coin or dollar you save is a step toward something meaningful. The
amount may seem small at first, but small choices repeated consistently
can produce big results.
You do not have to reach your goal immediately. You simply need to begin
and keep going.
Give with joy. Save with purpose. Spend with wisdom. Honor God in
everything.
Prayer for My Savings Goal
Dear God,
Thank You for everything You have entrusted to me. Help me choose a
wise and meaningful savings goal. Teach me to be patient, disciplined,
grateful, and responsible. Give me strength to resist unnecessary
purchases and wisdom to use my money well. Show me how to earn
honestly, give cheerfully, save consistently, and spend thoughtfully. May my
choices honor You and prepare me to manage greater responsibilities in
the future.
In Jesus’ name, amen.
Money Smart Kids Reflection Questions
1. What would I like to save for?
2. Why is this goal meaningful to me?
3. How much will it cost?
4. How much have I already saved?
5. How much can I save each week?
6. When could I reach my goal?
7. What unnecessary purchase could I avoid?
8. How can I earn additional money safely?
9. How will reaching this goal help me grow?
10. What is the first savings step I will take today?
Launch your Graphy