Goal Setting for Kids

By Winsome Coutts

Ever thought about Goal Setting for Kids? Goal setting is one of the most important skills that a person can learn, and the earlier this skill is learned, the more chances there are for successful outcomes in a person’s life. Adults know that goal setting is all about planning, making progress with that plan and reaching final goals or achievements. Once a child learns how to do this, they can use this tool for more success in school and at home.

Goal setting for kids will help your children to do well on their school tests and in activities such as sports, music programs or outside academic or arts programs - even at home, and with their personal finances. Teaching your child how to be a goal setter will give them a sense that they are capable of whatever they want to do. That’s valuable!

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How to help your child be a goal setting child

Goal setting for children is basically the same as for adults, with a few caveats. Because they are young, and not as emotionally or cognitively developed, goals should be smaller and more tangible. The idea with goal setting for kids is to get them started in the life-long frame of mind for thinking, planning and taking action to achieve results. The basic premises of goal setting remain the same. You can help your child learn to set goals by working through these steps with him:

Ask, “What do you want to achieve?” – Help your child describe in specific terms something he would like to do that will take some work/planning (getting an A on his next math test, earning money to purchase a certain kind of bicycle).

Ask, “How will you get there?” – Help him plan out the steps to take and the mini-goals to reach on his way to the ultimate goal.

Establish accountability – Have your child write down what he wants to achieve and what his plan for getting there is. He can read it each day to help him with personal accountability, and he can share it with you, or another trusted adult to help him stay motivated, inspired and on-track.

Achieve – Achievement is not only for the final outcome, but also for the small goals that are met along the way.

Review plan/goals/outcomes – Throughout the process and at the end as well, review with your child the plan and how it is going. Do adjustments need to be made? How does he feel about his progress and where it is leading? How was the goal setting experience for him?

If your child does not reach his ultimate goal, talk to him about what he learned on the way. He still has learned valuable lessons about planning and goal setting, and he’s probably learned about himself. Encourage him to not give up on dreams that are important to him, but that if one plan doesn’t work, he has to revise the plan and try again.

Teaching your child to be a goal-setting child is one of the best things you can do.

You will be giving him or her, a valuable gift that they will use for their entire lives, empowering them to achieve wonderful things in every area of life. Goal setting for kids is a skill that will be built on throughout an entire lifetime. For a fantastic resource about , go to Goal Setting for kids

Winsome Coutts holds a teacher’s certificate in education and has written hundreds of articles on self-development. She has studied with Bob Proctor and John Demartini, popular teachers featured on “The Secret” DVD. She is the passion behind the www.4lifehappykids.com and is a parent and grandparent.

Winsome is author of “Go for Your Goals” for kids – a set of downloadable e-books that guide your child through the joyful steps of learning visualization, goal-setting and the Law of Attraction. Simple language enhanced with beautiful illustrations and worksheets make these books appealing and motivating. To learn more, visit www.4lifehappykids.com

Why isn't Financial Education Taught in Schools

If ever there was a time for better financial education then surely it is now? When you look at the state of many of the economies around the world it’s a mystery why financial education is not compulsory schools. It is easy to blame banks, big business or governments for the current climate but it is the education of individuals that need to change.

With the State of Virginia recently announcing that they will make a one year financial education course compulsory, this article looks at some of the arguments for and against mandatory financial education.

At school, we may have learned some skills necessary to get a job, but nobody tells us how to create or manage our wealth. If we cannot educate ourselves on ways to obtain and retain our money, we are headed for a future financial disaster.

In the USA, individual debt is growing 23 times faster than the economy. It is a similar situation in many other developed nations, for example the credit card debt in the UK is over £220bn or an average of £3175 per person. Thousands of college graduates who have invested in their education are facing a student loan crisis. The job market is shrinking, and the sour economy is preventing employers, parents and relatives from helping those who are behind on payments," USA Today reports. "Student loan defaults are at their highest rate since 1998, and likely will go higher” People are even losing their homes and have no money to retire on. It is estimated that the average person today will require $ 1.5 million by 65 years of age to retire comfortably.

Some argue that a better way to teach children about money is in the home, which may have its merits but may create something of a vicious circle: when parents are financially illiterate — they’re not likely to teach their kids very well, are they? Which means that the minority of people, who are smart about money, will (potentially), raise kids who are also smart, while for the rest the cycle will continue.

Another argument put forward against financial education in schools, centres on the twin pillars of lack of time and lack of money. School curricula are already crowded places and a significant financial education programme would have to come at the expense of something already in place. Few teachers would have the necessary competence and confidence to deliver such programmes without the need for additional training and resourcing.

These arguments may be countered by providing financial education online or via other media accessible to students, and indeed their parents, 24/7. Young people will spend hours studying independently for subjects with a real personal interest, playing an instrument, making a MySpace page or learning to drive for example.
Funding may not be such an easy nut to crack but there are existing projects sponsored by banks and financial institutions around the world. Dissenting voices would point out however that if it was the banks that got us into this mess are they the best influence to help educate the next generation? Governments may also see the longer term benefits of providing financial education as saving them the money they may otherwise have to spend on social security in the future.

In conclusion it would appear that there is a growing tide of public opinion supporting the need for better financial education, which in my opinion should at least begin in schools. The debate will continue as to who should deliver what and when but in the meantime, parents and young people themselves can take a proactive approach and seek the resources currently available.

A great source for younger children is The Financial Fairy Tales series, which introduce money principles and awareness via entertaining and engaging stories.