Monday, March 17, 2008

Goal-Setting for Kids

So it wasn't a one-time occurrence.

Immediately after having success with pasting a goal on my daughter's bank to encourage savings (see 12/26 post), I decided to ask her if she'd like to try it again. She did, picked out a scooter that she wanted and, lo and behold, she successfully saved again. Most importantly, she allocated most of her allowance EVERY week to saving for this goal. Over the course of almost three months, and with a little help from her friends (read "grandmother"), she saved enough to purchase a scooter that she wanted.

To those who might downplay the importance of starting young, don't underestimate the importance of starting this process sooner than later. Learning to delay gratification is a very important trait that your kids can develop early. Columbia University Psychologist Walter Mischel found a link between preschoolers who displayed this trait and future success. He found in follow up studies that preschoolers who displayed this trait were better adjusted and achieved more academically. Want to know more? Click here.


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