Real-life money lessons

We Did It! An Update on Saving for A BIG Lego Set

A few months ago, I had a parenting win. J received a gift that he couldn’t use, and instead of exchanging it for something right away, he returned the item and put the money aside for something he really wanted — The Temple of the Ultimate Ultimate Weapon Lego set.

This BIG set cost $99.99, and with 6% tax, he needed a total of $105.99.

He started on August 26, 2017 with $25.17 in a Target gift card.

By saving $8.00 every two weeks (of his $9.00 allowance), he calculated that he would reach his goal on or before January 19, 2018.

The Power of a Goal

Not only did he save part of his allowance, but J was inspired to do chores for extra money and also added in some gifts from relatives. Both accelerated his progress towards the goal.

On November 10 (2.5 months in), he had $90.67.

Shop Around

Since he was close, we decided to shop around and see if the price had come down. We found the set at Toys R Us for $79.99 with free shipping — $20 cheaper than we originally saw! Plus tax, the total was $84.79.

He had enough money and we ordered on the spot. (I bought out his Target gift card.)

To sweeten the experience, J also had a $15.00 Toys R Us gift card from his birthday, so his out-of-pocket total was $69.79. Subtracted from the $90.67 that he saved, he not only got the new toy but had $20.88 left over.

Savor It

He was SO excited when that set came, and I have to say — he really savored it. There were 11 bags in the box, and it took him until after the new year to finish the entire set. He would put together one or two bags at a time and then play with it. Rinse and repeat for about two months.

It was really sweet.

What Do You Really Want?

Not only was I excited that he saved his money for something larger, I enjoyed talking with him about identifying what he really wants. I think oftentimes we don’t give our purchases (or other life decisions) a lot of thought. Maybe we just go with the flow and buy what other people are buying. Or maybe we succumb to marketing efforts without really thinking about it.

How often have you looked at something you bought in the past and thought, “Why did I think that was a good idea?” Or found something you just HAD to have but never used?

I think it’s a valuable skill to learn — identifying what you want and then going for it — purchases or otherwise.

Have your kids (or you!) saved for anything recently? Share in the comments below!


2 replies on “We Did It! An Update on Saving for A BIG Lego Set”

Yes! It was great to watch him play with it continually instead of abandoning it after a short period of time. Totally recommend this method, and I encourage him to save for whatever he wants, no matter how big it is. Thanks for reading and commenting!

Leave a Reply

Your email address will not be published. Required fields are marked *