Fidelity For Kids

I wanted to write about how to make saving fun, because the more fun something is the more you do it. Here are five ways to make saving more fun, and keep in mind that some of it might require help from your parents. Having the whole family in on the project makes it harder to not stick to the goals.   1.         Set targets and celebrate progress.  If you have $100 in your bank account, maybe a realistic target is to get to $150. Getting there feels good, but what feels even better is to set the target and then treat yourself when you reach it. So when you get to $150, you can buy yourself a $5 reward and you’ll still have $145, which is almost as good. Then set the next goal for $200 and you’ll have $195 saved. Soon the $5 rewards will be a much smaller percentage of the overall savings. 2.         Save more than what you need.  If you want to buy something that costs $20, tell yourself it actually costs $40. Then once you have saved $40, go buy the thing and you’ll still have $20 le