“A goal without a plan is just a wish.”
Hey There,
A WARM welcome to this week’s edition of Mini Millionaires.
This week we’re talking about: How to teach kids to set money goals.
Before we get into it, we wanted to share some feedback from one of our Mini Millionaire families. Their 8-year-old has decided to open a store - and while it might still be early days (so she’s not entirely sure what she’s selling in her store), we’re already hooked on the promise. Be sure to send us a store catalogue when you're ready. 😉
We love that families all across South Africa are using the Mini Millionaire newsletters to start the right kinds of conversations to raise Money Smart kids. So we’d love to hear from you if you have an exciting Mini Millionaires story to share.
Ok, let’s learn how to teach kids to set money goals!
Money Smart Headstart
🥅 Get a Goal: Get it done.
❔ It Pays to Ask: Get the right Qs.
🧐 Classroom Plays: Our gamified digital learning platform.
📣 What you said: What happens with Granny’s money gift?
Hot Off The Press
Eyes on the Prize
Most kids are happy to go with the flow. But deep down, they’re wired to want more.
Without someone to show them how, though, they might never realise that goals can be chosen, planned for, and reached.
That’s why teaching children to set goals is so powerful. In fact, 85 % of parents who set goals for their family believe it’s helped their child learn how to work toward a goal.
Once they’ve seen what’s possible in saving for a toy, it’s not a stretch to aim higher in school, sport, or creative pursuits.
1. A mindset to cultivate
Specific goals boost performance and motivation
Studies have shown that goals that are specific and challenging lead to higher levels of performance.
Help your mini millionaire define concrete objectives. So something like: “I want R200 for a toy by the end of this month” rather than vague wishes. This clarity channels their energy, builds commitment, and fosters internal motivation. When kids see their progress, their sense of self‑efficacy grows, and they experience firsthand that planning can lead to very real results.
Takeaway: Encourage your child to set measurable, time‑bound money goals and watch as their focus, confidence, and follow‑through flourish.
2. A habit to form
Be consistently Specific, Measurable, Achievable, Realistic, and Time-bound.
There’s a famous, powerful goal-setting framework that even kids can understand. Goals have to be SMART:
Specific: Know exactly what you’re aiming for.
Measurable: Track progress with clear milestones.
Achievable: Set a goal that stretches but doesn’t snap.
Realistic: Make it doable with the time and tools you have.
Time-bound: Add a deadline to keep the drive alive.
Takeaway: Start talking about goals in this structured way, to provide the road-map to success, and make something that seems daunting and overwhelming, become really achievable.
3. A tip/trick to try
Use visual goal‑tracking tools to keep motivation high
Incorporate visual cues like goal jars (check out a previous edition where we wrote about The 4 Jars method), sticker charts, or even goal‑tracking apps to help keep the goal (and the progress) top of mind. These tools make progress tangible.
When kids get instant feedback and see their “goal meter” inching forward, they stay engaged. If using digital tools, choose ones with parental insights to foster conversations around spending decisions.
Takeaway: Visibility drives motivation. So equip your mini millionaire with engaging visual trackers to maintain momentum toward their money goals.
Your Thoughts…
Poll: What’s the biggest challenge when teaching your child to set money goals?
Use This
Asking the Right Questions.
Setting a money goal is a great start.
But it’s the questions we ask that bring clarity, direction, and action. So this week’s free resource is our Savings Goal Template complete with SMART Goal Reflection Questions for Kids, which helps you guide your child through SMART goal setting with simple prompts and questions that make the process feel doable (and even fun!).
Whether they’re saving for a toy or something bigger, these questions will help them think it through and stick with it. Use them as conversation starters around the dinner table or print them out and pop them on the fridge!
Game On
Everything You Wish You’d Learnt About Money
Fintr4Schools is a gamified digital learning platform for the classroom.
Using superhero storylines, comic-style content, and lessons aligned with South Africa’s EMS curriculum, Fintr makes financial literacy super fun and ultra-accessible.
The platform has earned a world-class 93% pedagogical rating from the Education Alliance Finland (so you just KNOW it’s good).
It’s a powerful tool for educators who want to equip the next generation with real-world money smarts.
So, whether you're an educator or a parent with school-going kids, talk to us about getting Fintr4Schools in your school.
The Tribe Has Spoken
Last week, we asked, ‘What usually happens when your kid gets money from Granny?’ And it’s a resounding answer.
🟩🟩🟩🟩🟩 🧸 Straight to the toy store
⬜️⬜️⬜️⬜️⬜️ 💰 Into a savings account
⬜️⬜️⬜️⬜️⬜️ 🧠 Been reading MM — we spend, save, share & sow
⬜️⬜️⬜️⬜️⬜️ 🤔 Still figuring that out
⬜️⬜️⬜️⬜️⬜️ ✂️ We take a lil haircut off the top — call it a “Mom/Dad Tax”
Let’s Connect
What’s the mindset, habit, or tip you want to try this week?
What worked, what didn’t? Or is there something that’s got you and your mini millionaire excited?
We’d love to get your thoughts, so hit reply to this email and let us know what's on your mind.
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