MONEY SMART GRADES 3–5: Parent/Caregiver Guide

Lesson 2: Get Set for Goals

Topic: Setting Goals

About This Topic:
When kids set goals and think about why ads try to get their attention, they can make smarter choices about saving and spending money.

From the classroom:

What is a goal? A goal is something you plan to achieve, or reach.

What is the difference between a short-term goal and a long-term goal?
A short-term goal is something you want to achieve soon—like today, this week, or next month. For example, getting a good grade on an upcoming test is a short-term goal. A long-term goal is something you want to achieve further in the future—like in one year, five years, or when you're grown up. For example, learning to play the violin or going to college are long-term goals.

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

What is a savings goal? A savings goal is an amount of money you plan to set aside so you can buy something later.

What is the purpose of advertising? The purpose of advertising is to convince people to buy a product, so the company that paid for the ad can make money.

How might advertising influence your decisions to spend or save money? Ads might make you want to spend money instead of saving it. They might also make you want to spend more money than you had planned.

Words To Know:

Advertisement or Ad: A public message that a company pays for to help promote and sell more of a product or service.

Long-Term Goal: Something you want to achieve in the future, such as in one year, five years, ten years, or more.

Savings Goal: The amount of money you plan to set aside for a specific purpose.

Short-Term Goal: Something you want to achieve soon, such as 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 that he puts into practice, which ends up helping his whole family.
• Danny Dollar Millionaire Extraordinaire—The Lemonade Escapade by Ty Allan Jackson: Eleven-year-old Danny Dollar chases his dream to become a millionaire while teaching readers about handling money wisely.
• Lulu Walks the Dogs by Judith Viorst: Lulu works to earn money to reach her mysterious "super special" long-term goal.

Games and Online Resources:

• FTC Admongo: Play this adventure game to learn about understanding ads. http://game.admongo.gov
• PBS Don't Buy It: Learn more about advertising tricks with these fun quizzes. http://pbskids.org/dontbuyit

Conversation Starters … Ask Your Child:

• What are your short-term goals? How do you plan to reach them?
• What is one of your long-term goals? How could you work toward that goal?
• What commercials or other kinds of ads did you see today? Describe the one you remember the most.
• How did that ad try to convince people to buy their product?

Try This at …

Home:
Create a Goals Chart: Share some of your own short-term and long-term goals, and explain how you plan to meet them. Ask your child to do the same. Write everything down on a chart so you can track your progress together.

Talk About Commercials: Turn TV time into a learning moment by talking about the commercials you see. Discuss the purpose of each commercial, how it tries to convince people to buy the product or service, and who it's meant for. You can also talk about ads you hear on the radio or see on the Internet.

Doctor's Office:
Examine Magazine Ads: While sitting in the waiting room, point out and discuss the ads you see in magazines. Talk about the purpose of each ad and how it tries to convince people to buy the product or service.

Bank:
Open an Account: Open a savings account for your child. They can save toward a long-term goal by adding money to the account whenever they earn it or receive it as a gift.