“But why do I have to wait two weeks?” said my 12 year old son. “O, come on, please! I really want it and I won’t want anything else for a long time!” This was almost a weekly ritual in my house as my son would look through the Sunday ads for good “deals.” We had tried many things, including a mandatory two week waiting period, but nothing seemed to really help.
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Top 10 Money Tips for Parents
Posted on May 19th, 2011 by JeffKids Need to Know about the Wonder of Compound Interest
Posted on March 9th, 2011 by BobIf 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!
The Power of Compounding Interest
Posted on January 29th, 2010 by BobAlbert 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