In collaboration with Janet Alvarez, WiseBread.com

Meeting financial goals as a family can be challenging. But inspiring your family to help and contribute to a financial goal doesn’t have to be a painful process, especially when the result is an exciting family vacation, a new family car, or college savings. In the spirit of America Saves Week, we will share some ideas on how to save as a family for all those items and bucket-list experiences.

1. Gamify It!

Make a game of who contributes to a joint family pot for that month’s fun activity. A game of monopoly can turn into a real contest, as anyone who loses can be required to contribute a small amount to that month or week’s activity of choice (such as a meal out, or family movie). Of course, contributions should be proportional to earnings – teens might contribute $5 from their part-time job or allowance, while adults would be expected to contribute much more. Still, the spirit of the game is focused on sharing and enjoying together – and because everyone has a stake, everyone will enjoy it all so much more.

2. Sell, Sell, Sell!

A family garage sale can be an enjoyable and rewarding way to raise extra cash for shared activities or purchases. If your family wants a new flat-screen TV, game console, or other piece of technology or furniture, why not start by selling what you already have and don’t need? A traditional garage sale is one good way to raise cash, as is selling unused items online (this tends to be the better option for selling electronics and gadgets).

3. Match It!

Often, children’s only way to save is to use their holiday or birthday gift money. It can be challenging for kids to save money they so badly want to spend and enjoy immediately, so it’s important to offer incentives for doing so. One idea is to match dollar for dollar every bit of money they save from their gifts. That ensures kids get the immediate gratification of knowing their saved gift money is being doubled, but also enables them to feel empowered by having chosen to save and contribute to family goals

4. The Envelope Method

When saving for multiple goals, the envelope method is an excellent way of keeping all the monies separate for their intended uses. Simply mark each envelope with a stated goal, and contribute regularly to each until the goal amount is met. For small children, it can be rewarding to contribute to smaller family goals, such as ice cream or a movie rental. A $10 or $15 goal can mean a $1 or $2 monthly contribution from their allowance. This helps children learn the value of saving, and builds confidence in their ability to do so.

5. USAgencies Credit Union Can Help

We are a resource for helping your family save together. From traditional savings accounts or CDs to holiday savings accounts, we can help you select a financial product that can help your family in reaching its shared goals faster. For larger goals, in particular, a shared family account can be an excellent resource for keeping your family on track to realizing your financial wishes.