Read the three simple steps to help you reach your New Year's financial resolutions.

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Money Management: Control Your Cash

Lesson 1-2 Goals

If you were giving a birthday party for your friend, would you just throw it all together at the last minute? Of course not! You would decide on the goal (a great birthday party) and work backward to figure out everything you'd need to do to make it happen. You can apply a similar strategy with your money decisions. Intentionally planning out specific actions to achieve your financial goals can improve the likelihood of success.

What You’ll LearnPlan specific, measurable actions to achieve your financial dreams. 

Taking it Home

  • Does your family have a shared goal such as owning a home, replacing a vehicle or taking a family trip? Based on what you learned in this lesson, craft a family goal that is realistic and achievable.
  • If you are considering options to continue your education after high school, research costs for your chosen program. Use that information to write a SMART goal to pay for your education.

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Talking Points for Parents

While your teen is learning about financial goal setting, consider ways to reinforce learning from home.

  • Encourage your teen to set goals for how to save and spend money earned through work or allowance each month.
  • If your teen is planning for a post-secondary education option (or another major expense), have a discussion about the related costs and what is realistic for your family's circumstances. Then work together to write a financial goal that is specific, measurable, attainable, relevant and time-bound.