Lesson 2: Get Set for Goals

Topic: Setting Goals

About This Topic:
When kids set goals and think about how ads try to get us to buy things, they can make better choices about saving and spending money.

Questions and Answers

What is a goal?
A goal is something you plan to do or get.

What is a short-term goal?
It is something you want to do soon. That could be today, this week, or next month. Example: getting a good grade on a test you have coming up.

What is a long-term goal?
It is something you want to do far in the future. That could be in one year, five years, or when you are grown up. Example: learning to play the violin or going to college.

Why is it important to set goals?
Setting goals helps you focus on the things you want to reach.

What is a savings goal?
A savings goal is money you plan to save up so you can buy something later.

What is the purpose of advertising?
An ad (advertisement) is a message a company pays for. Its job is to get people to buy something, so the company can make money.

How might ads change how you spend or save?
Ads might make you want to spend money instead of saving it. They might also make you want to spend more than you planned.

Words to Know

Advertisement (Ad): A message a company pays for. It helps sell a product or service.

Long-Term Goal: Something you want to do far in the future, like in one year, five years, ten years, or more.

Savings Goal: Money you plan to save for a certain reason.

Short-Term Goal: Something you want to do soon, like in two weeks or a few months.

Resources

Books:

• It's a Habit, Sammy Rabbit! by Sam X Renick: Sammy learns a secret about saving money. He uses it, and it helps his whole family.
• Danny Dollar Millionaire Extraordinaire—The Lemonade Escapade by Ty Allan Jackson: Danny is eleven years old. He works toward his dream of becoming a millionaire and learns about money along the way.
• Lulu Walks the Dogs by Judith Viorst: Lulu works to earn money for a big, secret long-term goal.

Games and Online Resources:

• FTC Admongo: An adventure game about understanding ads. http://game.admongo.gov
• PBS Don't Buy It: Fun quizzes about ad tricks. http://pbskids.org/dontbuyit

Talk About It: Ask Your Child

• What are your short-term goals? How will you reach them?
• What is one of your long-term goals? How could you work toward it?
• What ads did you see today, like commercials? Which one do you remember best?
• How did that ad try to get people to buy its product?

Try This

At Home:
Make a Goals Chart. Share some of your own short-term and long-term goals, and how you plan to reach them. Ask your child to share theirs too. Write the goals on a chart, and track your progress together.

Talk About Commercials. When you watch TV together, talk about the commercials you see. What is each one trying to sell? How is it trying to get people to buy it? Who do you think it's trying to reach? You can also talk about ads you hear on the radio or see online.

At the Doctor's Office:
Look at Magazine Ads. While you wait, find ads in magazines. Talk about what each ad is trying to sell and how it tries to get people to buy it.

At the Bank:
Open an Account. Open a savings account for your child. They can add money they earn or receive as gifts, and save it up for a long-term goal.