Helping kids appreciate money
Albert Einstein called compound interest the “eighth wonder of the world.” Compound interest works like magic, with your money constantly feeding on itself to grow larger and larger. How does it work? It’s easy really. Interest is earned and paid not just on your principal, but also on all the previous interest earned. Your total balance grows faster and faster without you doing a thing!
Read More“I am reaching my goals," said one 5th grader in my class.” “I’d like to earn money for charity by doing extra chores,” exclaimed another. My students are reaching for things they normally would not have, if it weren't for FamilyMint. They now know how to fill out a check, take care of adding and subtracting from their register, and even "envelope" their money. As a teacher, I appreciate helping students brush up on money skills and vocabulary, as well as seeing how happy they are to spend a little time with parents around goal setting and financial literacy.
Read MoreIf you can explain and illustrate the power of compound interest to your kids, you are endowing them with the real vision of why saving money is cool; that when they put money away and leave it to its own mischief, it grows!
Read MoreAlbert Einstein called compound interest the “eight wonder of the world”. Compound interest works like magic, with your money constantly feeding on itself to grow larger and larger. How does it work? It’s simple really. Interest is earned and paid not just on your principal, but also on all the previous interest earned. Your total balance grows faster and faster without you doing a thing.
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