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 More20 percent of college students are facing financial hardships because of debt. To prevent your child from becoming part of this statistic, sit down and discuss money management before sending them off to college. By taking an active role early, you have the best chance of preventing your child from becoming the one in five who is struggling to control their financial situation.
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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