Teach kids to plan for big purchases with goals they can see and celebrate. Help them turn saving into a fun, visual habit that builds patience and purpose
Big purchases are a big deal (not just for kids, but for grown-ups too).
Whether it’s a cool skateboard, the latest console, or a new pair of sneakers, saving for something special teaches children more than just being patient.
It teaches them about vision. About putting a plan in place and going for it. When kids learn to plan, they learn how to connect their effort to a specific outcome.
The trick, though, is to make it tangible.
Kids need to see how saving up works, not just hear about it. Planning for a big purchase becomes a lesson in goal-setting, maths, and motivation, all rolled into one real-life skill.
Turn “I want it now” into “I’m working towards it.”
Instant gratification is wired into our world.
One-click shopping, same-day delivery. It’s an everything-now culture.
But helping your mini millionaire slow down and plan builds patience and long-term thinking. Most of us would be familiar with the Stanford Marshmallow Experiment.
What’s really interesting is that subsequent experiments showed that self-control isn’t fixed, but can actually be shaped by the environment and trust factors within the situation. So when kids believe that saving actually leads to something better, they’re more likely to delay gratification.
The key is helping them see that the plan pays off.
Takeaway: Planning is progress in motion.
Make saving visible.
Kids stick to habits they can see.
Visible cues and feedback loops make your brain initiate a behaviour.
Instead of telling your mini millionaire to “save for it,” create a visible tracker. This can be anything from a chart, a jar (we love ourselves a lil Jar System, hey), or a printable savings ladder.
Each time they add money, they can colour in a section or move a coin marker up, tapping into the psychology of micro-rewards: small wins build momentum.
Takeaway: What gets seen, gets done.
Turn a wish list item into a simple 3-step Purchase Plan:
STEP 1: Write down what they want.
STEP 2: Find out what the purchase costs.
STEP 3: Plan how they’ll get there (this is where you decide how much to save each week and by when).
Goal-setting theory shows that specific goals with clear feedback dramatically boost motivation.
For your mini millionaire, having this visual purchase plan makes saving concrete and adds in a layer of accountability thanks to the whole family’s involvement.
Take it a step further by celebrating milestones.
Are they halfway there? Add a cool sticker and have a dance party. Have they met their goal? A high-five and a photo with their purchase.
Takeaway: Turn the dream item into a shared project.
Saving gets kids excited when they can see their progress. This week’s free downloadable Savings Tracker turns saving into a fun, visual adventure that keeps motivation high.
Inside, you’ll find:
• A simple example showing how to break down a goal and track it.
• A blank English tracker to personalise.
• A bonus Afrikaans version for our bilingual savers.
Your mini millionaire just writes down their goal, total cost, and colours in the bar as they add money. From sneakers to school trips, this tracker helps kids plan ahead, stay focused, and celebrate each milestone.
