Besides creating goals to save for things they want, our children are responsible for giving to charity and for saving up to buy gifts for family and friends. This means they must prioritize their goals and also must frequently postpone reaching a personal savings goal in order to ensure they reach their charity or gift goal. It’s been amazing to see how they have responded so generously in their giving to others—and without complaint.

The establishment of specific goals, combined with visual reminders of their progress, has helped our children see the bigger picture, prioritize more effectively, and make wise money decisions. You, too, will be amazed by the change you observe in your children when they begin putting these simple skills into practice. Habits form early and become more difficult to change the older we get. Don’t put it off!

February 9, 2011

Bob Masterson and his wife Mary homeschool their nine children—eight boys and one girl—in Rochester Hills, Michigan. Bob and his good friend Jeff Eusebio co-founded FamilyMint to help their own kids and others become was designed around the concept of SMART goals—goals that are Specific, Measurable, Achievable, wRitten, and Timely. The FamilyMint website provides a simple and fun tool (for kids aged 6–18) that teaches and reinforces the concepts that help create money-smart kids. For more information and to use FamilyMint with your family, visit



Copyright 2010. Originally appeared in The Old Schoolhouse®Magazine, Fall 2010. Used with permission. Visit them at

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