Setting Goals With Bankaroo

ObjectiveTeach your children how to set saving goals using the Bankaroo application.
Description Bankaroo

You can use the Bankaroo application to set up a saving goal and set aside a portion of your income to achieve your goal. 

Steps:

  1. Is there a toy/game/piece of clothing or other item that you would like to buy?
  2. Find the price for the item (either online or at the store).
  3. Go into your Bankaroo account.
  4. Type in the name of the object you would like to buy and the price.
  5. Decide how much of your allowance you would like to put away each month in order to save for the item. Remember, if you put more money away each month you will have less money to spend for that month but you will be able to get your item sooner.

Variations:

  1. When deciding on the item to buy you could look for end of season sales, coupons and special offers that will make the item you want less expensive and therefore easier to save for.
  2. You could try to negotiate a lower price on the item you want (you could ask the sales person to leave off the tax or give a discount). This would also help you to reduce the expense of the item.
  3. You could start a small business with the specific goal of raising money to buy the item. This would make it so you would not have to dip into your monthly income in order to buy what you want.

 

Complete When

Mark this activity as complete when you have used the Bankaroo application to set and achieve a savings goal.

Track your progress and earn badges!

This activity is included in the following:

Attachments
Prerequisites Get Started With Bankaroo
Average RatingNo one has rated this activity yet!
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Age Range 7    8    9    10    11    12    13    14    15   
Activity Type Routine
Tags Banking  Setting Goals  Saving 
CreatedCindyCindy
Last ModifiedRobRob

References

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