Well, for most kids, there is no delayed gratification.
It's all about gimme, gimme, gimme… and gimme it NOW!!!
How do we compete with that thought process?
Well, very carefully.
In today's society, even adults have a case of the "gimmies."
I'll admit it, we've fallen into that trap of wanting something and getting it immediately, and at the time it feels good, but in the long run, is not the right choice all of the time… especially if you go into debt to do it.
Therefore, in our class, I give them 10% of their saved money once every 20 days or so. It allows them the chance to delay that gratification from the classroom store, and gets them to start thinking about how quickly their money can accumulate.
Then, over time, they can do MUCH more with their money, then if they were to spend it immediately.
Novel concept, huh?
I wish I knew back then, what I know now about "compounded interest."
If you still don't know exactly what it is, look it up… you'll be amazed.