How Does My Kid Save Towards a Goal?

Empower Your Kids to Save for Bigger Dreams

In S’moresUp, goals are not separate from rewards but are achieved by enabling a saving feature for specific rewards. This teaches kids the value of saving over time for meaningful milestones, fostering financial discipline and delayed gratification. By turning on the “Need to Save to Claim This Reward” option during reward creation, you allow kids to allocate their S’mores Points gradually toward their goal.

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How Does Saving Toward a Reward Work?

When you create a reward in S’moresUp, you can enable the saving feature, allowing your child to contribute their earned S’mores Points toward the reward incrementally. Here’s how it works:

1. Set Up the Reward:

   • While creating a reward, toggle on the “Need to Save to Claim This Reward” option.

2. Earn Points:

   • Your kids complete chores and maintain streaks to earn S’mores Points.

3. Allocate Points:

   • Kids allocate their earned points to the reward of their choice until the required amount is reached.

4. Claim the Reward:

   • Once the target is met, the reward becomes redeemable.

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How to Enable Savings for a Reward

1. Go to the Rewards Section:

   • Open the app and navigate to the Reward Shelf.

2. Create a New Reward:

   • Tap the + button to add a new reward or edit an existing one.

3. Turn On Savings:

   • Toggle the “Need to Save to Claim This Reward” option.
   • Add a description, set the required S’mores Points, and define other parameters like availability and approval requirements.

4. Save the Reward:

   • Confirm your settings, and the reward will now appear as a saving goal for your kids.

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Why Saving Toward a Goal Matters

1. Builds Financial Literacy:

   • Kids learn the value of saving instead of spending impulsively.

2. Fosters Patience and Planning:

   • By contributing points over time, kids understand the importance of working toward long-term goals.

3. Encourages Thoughtful Choices:

   • Kids become more mindful about how they spend their points, prioritizing meaningful rewards.

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Examples of Goals via Rewards

1. Big-Ticket Items:

   • A new toy, gadget, or family outing that requires several weeks of saving.

2. Experiential Rewards:

   • A trip to an amusement park or a family vacation.

3. Personal Milestones:

   • Saving for a bike, gaming console, or another high-value reward.

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Tips for Success

1. Set Realistic Goals:

   • Ensure the required points are achievable within a reasonable timeframe to keep kids motivated.

2. Celebrate Milestones:

   • Acknowledge when your child reaches 25%, 50%, or 75% of the goal.

3. Encourage Consistency:

   • Remind kids to allocate points regularly, even in small amounts.

4. Provide Guidance:

   • Use the saving process as an opportunity to discuss financial concepts like budgeting and priorities.

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Make Saving Fun and Educational

By turning rewards into saving goals, you’re teaching your kids valuable lessons about effort, planning, and achievement. Log in to S’moresUp, enable the saving option for your rewards, and watch as your kids embrace the journey of working toward their dreams—one point at a time.