In the Mangosteen Buddy comics, Buddy has only one dream: the Alpenblitz bike, red, light, with mountain gears. It costs CHF 420. For an 8-year-old, that's a mountain. And that's exactly why it's such a good lesson.
Why a goal changes everything
"Put some money aside" is a vague instruction. A child can't see the point, and the sweet shop nearly always wins. But "you're saving for the red bike" gives them a reason to wait. Each coin in the piggy bank is no longer something given up; it's a step towards something they've chosen themselves.
The researchers Alessandro Bucciol and Marcella Veronesi studied thousands of adults. Those whose parents had taught them to save as children save more often, and more, as adults. Habits learnt young stick.
Buddy's plan, in figures
Buddy gets CHF 6 pocket money a week.
Without a plan: he keeps CHF 3 a week. It would take him 140 weeks, more than two and a half years. A child gives up long before that.
With a plan:
- He still keeps CHF 3 a week, CHF 13 a month on average.
- He earns CHF 10 a month washing the neighbours' car.
- Grandma gives him CHF 50 for his birthday, which he puts aside right at the start.
- His parents add a patience bonus: CHF 1 for every CHF 10 he saves or earns.
That way he puts aside about CHF 25.30 a month. The bike is his in 15 months instead of 32. And the best part: most of that money comes from his own efforts.
The four ingredients of a goal that works
- It's concrete. A photo, an exact price, not "a bike one day".
- The child chooses it. If it's your goal, it isn't theirs.
- It's broken into stages. 15 months is a long time; 15 small one-month stages are doable.
- It's visible. What you see every day, you don't forget.
And if they wobble on the way?
There will be moments of doubt, in front of a pack of cards or a toy in a shop window. Don't lecture. Just remind them of the goal: "You can buy it, it's your money. It'll push your bike back by two weeks. Your choice." And if they give in, that's fine: they'll have learnt something, and they can start again.
Try this tonight with your child
Draw a treasure map together. At the end of the path, the thing they dream of (a cut-out photo or a drawing). Along the path, a flag every 10% of the price. Each time they reach a flag, a little celebration: a pancake, an extra story, a trip to the park. Hang the map in their bedroom. They'll see their path every night before they fall asleep.
Read also: The marshmallow test: what it says about your child’s future
Further reading
- Bucciol, A. & Veronesi, M. (2014). Teaching children to save: What is the best strategy for lifetime savings? Journal of Economic Psychology, 45, 1–17.
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