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It’s Financial Literacy Month! Hooray!!!

Our family has been learning so many lessons during this challenging time in our world, but there have been two that have been more apparent than ever:

1.     During quarantine, we are inundated with technology more than ever before.  And yet, what we all want more than anything is connection with other human beings.  Even our kids want face-to-face time more than screen time now. 

2.     With our country doing an about-face from financial strength to financial insecurity overnight, the need for emergency funds and savings accounts has become as clear as day. 

And that’s why Goalsetter is using Financial Literacy Month to launch a nationwide DARE.  We are daring EVERY FAMILY IN AMERICA that can afford it to SAVE AS A FAMILY FOR 30 DAYS. 

You don’t have to save a lot – just save whatever you can.  But in a recession, it’s more important than ever that you teach your kids the power of saving + financial literacy.

It takes 30 days to start a new habit.  Let’s create a habit of saving for every kid that we love. 

READY?  Let’s GO! 

The 30-day savings DARE has only 4 steps, so it’s super simple!

DARE:

D:  Download the Goalsetter App.  Set up a savings account for your own kid, a niece or nephew, or another kid you love.  If you don’t want to be the owner of the savings account yourself, you can give the gift of savings by sending a GoalCard to any kid in your life.  Send $5 or $100, or anything in between!  Even upload a photo or a video to personalize the card and help a special kid to start saving today.

A:  Add Allowance for your kid.  Add Auto-Save for you.  Set up allowance to give your kid the opportunity to earn money while they’re in the house.   Goalsetter’s allowance feature makes allowance easy (finally) – your kid can check off chores and submit them to you when they’re done.  Once you approve, the money automatically transfers from your bank account to your kid’s Goalsetter savings account.   Goalsetter is adding a debit card soon too, but who needs to spend in the age of quarantine?

Want to save for yourself too?  Add auto-save or round-ups to make saving fun and easy.  One of our Goalsetter members (who doesn’t even have kids) just sent us a note saying “WOW!  I saved $1000 in 3 months…this app is so good!)”  Emergency fund – here you come!

R:  Rope in the Relatives:   Send your kid’s personalized Goalsetter link to family members and friends, and they can sign up for “auto-save” or “round-ups” too – but contribute their savings towards your kid’s goals.  They can even send your kid a GoalCard so that birthdays and holidays aren’t missed during the time of Covid, AND your kid gets a fun video of Grandma with a little cash attached.  GoalCards are great ways of staying connected even during the time of quarantine!

E:  Earn while they Learn:   Let your kids save a little extra cash by setting up the “Earn Before you Learn” rule in Goalsetter.  Your kids will get a new 10-question financial literacy quiz every week, powered by Lady Gaga, Spongebob, and Jay Z, and for every quiz question they get right, you can pay them a set amount.  A dime, a dollar, five dollars – whatever you can afford.  Your kid learns concepts that you never dreamed they’d know (Compound Interest or the Rule of 72, anyone??), and we guarantee, you’ll learn some too!

Set up your kid’s saving account and share this with another family (or 5) that you love today!

Why?

Because kids who have savings accounts in their name are not only 6X more likely to go to college, they’re also 4X more likely to own stocks by the time they’re 25. 

Enough said? 😉

Let’s GOOOOOOAL!

Tanya Van Court

CEO and Founder of Goalsetter, and recently minted homeschooling mom of 4 kids (pray for me, people.)