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Are You Smarter Than an 8 Year Old?

by Don Current on April 9, 2010

My 8 year old twin boys achieved their goal yesterday. Before their birthday last year they had been asking for a Wii. This was shortly after my factory closed and I was unemployed. It wasn’t exactly the best time to be running out and buying them a $250 video game machineconsidering all the other computers and games around the house. We made a deal with them though. We told them we would provide some matching funds if they would save up their money to buy one. We give them each $5 every other week. We also have them give $1 of that to the church to encourage them to give and to help them get a proper perspective for money in their life. So basically we were asking them to save $4 per week toward their goal, and that would be if they didn’t spend any on toys and treats along the way. At that rate, it would take well over a year if they were to get to the full $250! But they did it! Their mom and I are so proud of them!

The New Wii

They saved every penny. They saved their birthday and Christmas money too. They saved every extra bit they could get their hands on. And they did it! They were great about not buying treats and trinkets too. They ended up raising $150 in just over 6 months, which to an 8 year old has to be an eternity! We pitched in the other $100 and picked it up yesterday and surprised them with it when they got home. By the way, we bought it at Game Stop. It was the same price as at Wal-mart, plus the staff could actually answer my questions and told us that we could get a free game with motion plus valued at $50 if we bought it by today!

So, are you smarter than an eight year old? Can you forgo the toys and treats along the way to achieve your financial goals? Are you willing to scrimp and save and work extra to get there? It’s not easy. It’s not fun. But the victory is so much sweeter for having battled your way there.

My biggest hope out of this adventure for my boys is that they will learn the value of saving and working toward their goal. I’m working hard to teach them that they don’t have to make the same mistakes I did along the way. I’m hoping they will change our family tree. Are you ready to change your family tree?