Tell your money exactly where to go

A great quote I want to share again...it will get you thinking. "It is better to TELL your money where to go than to ASK where it went." April is Financial Literacy Month and keep learning how to save, invest, donate, and spend your money right here on this site and at places like  www.afn-net.com.  Go Team!  Brett Ellen, The Kids Finance Coach.

find a treasure chest

There is more treasure in books than in all the pirates' loot on the Treasure Island - Walt Disney.  Walt said it best.  It's School Library Month...a good reason to celebrate the treasure in books.  Stay curious.  Go Team!  Brett Ellen, The Kids Finance Coach

What is on your summer bucket list?

What is on your summer bucket list?  Learning how to do something new?  Traveling to a place you have never been to?  Treating your parents to a movie night?  Make a plan...start thinking about ways to earn some extra money to make it happen.  Go Team!  Brett Ellen, The Kids Finance Coach

Make Today Count Rule of 72

Start today! Take action because ...The Rule of 72 is Cool! When people invest money, they do it so they can make money. That’s called "getting a return on your investment.” Sometimes they want to know how long it will take to double their investment. To do this, we use the Rule of 72.

Take 72 and divide it by the amount of return on your investment. That is the number of years it will take to double your original investment.

For example: Ten year-old Keanu buys a bond for $10,000 and earns 6%. 72 divided by 6 = 12. So every 12 years, Keanu’s money doubles. When he is 22, he will have $20,000.

What if Keanu leaves that money alone until he retires at 60 years old? His money will double 4 times by then and he will have $160,000.

Let’s say Keanu used that original $10,000 and bought a stock that earns 12% return (72 divided by 12 = 6) he will have $20,000 in 6 years when he is 16. If he leaves that money alone until he retires, it will double 8 times and he will have over $2.5 million when he is 60 years old.

The Rule of 72 is based on a principle called “compound interest” (return), which is sometimes called “The 8th Wonder of the World”!

Go Team!  Brett Ellen, The Kids Finance Coach

Its Earth Day plant a tree as a symbol of Growth

In honor of Earth Day, plant a tree in your yard as a symbol of growth.  Knowing how to save, invest, donate and spend your money helps stimulate growth.  Check out the cool videos on this blog to learn more.  Go Team!  Brett Ellen, The Kids Finance Coach

Turn Kindness On increase your giving bank

By joining non-profits like Turn Kindness On you and your family can fill up their own "giving bank" by doing good deeds for others.  Being fulfilled through philanthropy helps you, your family and the people your are giving to feel great.  Give it a try.  Go Team!  Brett Ellen, The Kids Finance Coach.

Recycle and Save

Recycle and save!  Being resourceful is a great way to save money.  Collect your bottles and cans and take them to your local recycling center.  You'll help save the planet and get some money back too.  Go Team!  Brett Ellen, The Kids Finance Coach

Credit Scores are vital to your financial health

A credit score is a number that helps lenders and others predict how likely you are to make your credit payments on time.  Each score is based on the information in your credit report.  It's important because your score determines if you can get credit and how much you will pay for that credit.  Learn more at getting credit.  Go Team!  Brett Ellen, The Kids Finance Coach

Needs vs Wants

 

It's a great time of year to think about what you need versus what you want - write out a list. Use the list as a way to start planning for saving,  investing, donating, and spending your money. Talk about the list during your family gatherings. Everyone can share their ideas. Go Team!  Brett Ellen, The Kids Finance Coach

Help and Earn

By helping a neighbor you can make some money too. Ask your neighbors if there is something you can do to help them. You provide a service that they will pay you for ... mow the lawn, take out their trash, wash their dog or car. Agree to when you will provide the service and how much they will pay you. Everyone wins!  Go Team!  Brett Ellen, The Kids Finance Coach

You would do WHAT?

Kids love to ask questions. And so do parents. Here are five questions that will give you great insight into what your kids are thinking and curious about. Take their responses a bit futher by asking them to describe ways of how they could save, invest, donate or spend money to do the things they want.

1. If you had a million dollars in your pocket, what would you do with it and why?
2. If you were to do something nice for someone, who would it be for and what would you do?
3. What kind of job do you think would be fun to have and why?
4. What is your favorite thing to do and why?
5. If you could buy something for someone else, what would you buy? Who would it be for and why?

Be sure to scroll down and over to the right to watch Kids Finance Coach Kids Keanu and Tristen's videos about how to save, invest, donate, spend money.  Go Team!  Brett Ellen, The Kids Finance Coach

Its in the air

Springtime can insprire you to renew your thoughts about what you want and what you need - write out a list. Use the list as a way to start planning for saving, investing, donating and spending your money to get the things you need and plan for the things you want. Talk about the list during your family gatherings. Everyone can share their ideas.  Go Team! Brett Ellen, The Kids Finance Coach

Words with Money

I've got a great glossary of terms for you to check out: http://www.afn-net.com/glossary.cfm.  Get to know the terms and you'll be a money word pro in no time.  Go Team!  Brett Ellen, The Kids Finance Coach

Be a Smarty Pants

Look out for coupons and sales before you buy. You might want the item right away but make the smart buy and purchase while its on sale or with a coupon. Another great way to save money! Every penny counts.  Go Team!  Brett Ellen, The Kids Finance Coach

What do you do with your money?

What do you do with your money? Write down your answer then watch the videos right here on this site to start thinking about how to save, invest, donate and spend money. Just scroll to the right and down a bit.  Go Team!  Brett Ellen, The Kids Finance Coach.

Being Physically Fit Counts

Being physically fit counts too.  Less money spent on medical expenses means you'll have more money to save, invest, donate or spend the way you want to.  Go Team!  Brett Ellen, The Kids Finance Coach

April is Youth Financial Literacy Month

A whole month dedicated just to you!  Learning how to save, invest, donate and spend money.  It's Youth Financial Literacy Month.  Start by watching the video's right here on this site.  Scroll down a bit and to the right.  Go Team!  Brett Ellen, the Kids Finance Coach.

Tell your money where to go

A great quote I want to share...it will get you thinking.  "It is better to TELL your money where to go than to ASK where it went."  April is Financial Literacy Month and as The Kids Finance Coach you'll see extra postings and resources right here and I invite you to click the learning center tab at  www.afn-net.com