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Money basics

Lesson 11 · Written for kid, teen, and little

Name Your Goal, Then Fill the Jar

A named goal plus a steady weekly amount turns wishing into a plan.

The idea

A savings goal works best when it has a name and a price, like a $60 skateboard instead of just more money. When you set money aside a bit at a time for one named thing, that pot is called a sinking fund. Divide the price by how many weeks or months you have, and that tells you how much to put in each time. The plan is what does the work, not luck 🎯

A

Words to know

5

Goal

The one thing you decide to save your money for. Like a $60 pair of headphones.

Sinking fund

Money you set aside a little at a time for one thing you named. $5 a week into a jar marked "headphones".

Target amount

The full price of the thing you are saving for. For those headphones, the target is $60.

Contribution

The amount you add to your savings each week or month. Add $5 a week and you reach $60 in twelve weeks.

Deadline

The date you want to have all the money ready by. A birthday in June is a deadline.

Try it — no accountTrue or false

True or false about saving toward a goal?

Card 1 of 4

A sinking fund is money you set aside on purpose for one thing you named.

Swipe the card — or tap.

In the full lesson

  1. 1True or false
  2. 2Work out the number
  3. 3Make the call

Vine has 107 lessons like this one, each written three ways so a 7-year-old and a 17-year-old both get a version that fits.

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