When I was a young girl, summer days had their fair share of running barefoot through the sprinklers and picnic lunches, but it was at the lemonade stand where I learned about the "real world". My best friend and I would set up the stand on the corner of our street, make the lemonade, set the price (10 cents a cup), put out our sign, and bring the cash box out. We would chant to passerbys and attract as much attention as we could. It was there I discovered a lot about myself (I liked earning Read on...
Power to Your Little People
Growing up in a large family, my basic financial needs were always taken care of but as for the extras -- it was like a bakery: "Take a number and get in line." It annoyed me and, at times, it embarrassed me when a friend had the latest and greatest gizmo and I did not. But, it also motivated me to find a way. I remember getting my older brother to let me clean his room for money, I took local babysitting jobs, and the moment I was old enough to put in for my working papers, I did. Now my Read on...
Math that All Kids Will Love
Do you want to get your child’s attention and encourage them to save money? A little basic math will show them how they might become millionaires – if they start investing early. Consider this hypothetical example: A teenager has a part-time job and puts $2,000 of her earnings into a Roth IRA every year starting at age 16 and ending at age 20. Then, she leaves that $8,000 total investment to compound for 47 years at an average rate of 10.7%. Even though no additional money is added to the Read on...