Get your mind in the game

Get your mind in the game -  learning how to save, invest, donate and spend money takes time, dedication and focus.  Its more fun when you know.  Start by watching the videos right here on this blog to get you thinking.  Go Team!  Coach Brett Ellen

make every second count

Make every second count.  Do the things you love, keep learning, and make your money work for you.  Fun fact:  it takes about 993,600 seconds to count 1 million dollar bills - that is about eleven and a half days.  Go Team!  Brett Ellen, The Kids Finance Coach.

Money...it's personal

Money...it's personal.  No matter how you look at it money is personal.  How you want to live your life is up to you.  So take control.  Early on.  Know how to save, invest, donate and spend your money.  Click on the videos right here on this site to get you thinking.  No matter what, its up to you...it's personal.  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

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.

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.

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”! In other words its really cool.

Here’s something VERY important to remember. Just because things happened in the past, doesn’t guarantee they’ll happen in the future. So we use historical return rates as an example. It doesn’t mean that if you invest in the stock market today, that you will receive 12% return on your investment every year. Also, when investing in stocks it is possible to lose money, so that the value of the stock could be less than the original investment.

 

So my message is ... start learning about how to invest your money wisely now.

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.

Know your ABCs

On to C:  Charity:  generous actions or donations to aid the poor, ill, or helpless: to devote one's life to charity.

Needs versus 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.

get to know this Principal

Principal - In a security, the principal is the amount of money that is invested, excluding earnings. In a debt instrument such as a bond, it is the face amount.  See more financial terms in the glossary.

What are Your Financial Goals for 2012?

Think about how you want to SAVE, INVEST, DONATE and SPEND money in the coming year.  Viewing the videos on this blog will get you started and there are a lot of tools at American Financial Network too.  Happy New Year!

A free gift - Kindness

One easy way to not break your budget this holiday season is to give one of the best gifts of all (and it's free) ... kindness.  A smile, a "hello", helping a neighbor carry in groceries, or opening a door for someone can simply make their day - and your's.  It feels great.  Let's all Turn Kindness On.  Happy Holidays.  Coach Brett

'Tis the Season

The spooky holiday is behind us (hope you all had a great Halloween) and there is much to look forward to as we participate in community, family and friend gatherings through the New Year.  The relationships we have with one another and the relationship we have with money are both important.  It's a good time to start thinking about money - saving, investing, donating and spending it.  Watch the video's on this blog http://www.kidsfinancecoach.com/ and visit www.afn-net.com/learning_center.cfm for great insights!

Curiosity is Cool. What if ... ? 5 Questions for Kids

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.

Bankers nationwide are celebrating National Teach Children to Save Day on Tuesday, April 21. Founded by the American Bankers’ Association Education Foundation, the day is dedicated to educating youth about the importance of saving.

Parents, Here are Five Tips for Teaching Financial Responsibility

1. Value of Saving – Teach children why you save and why they should save by using everyday examples like buying groceries. Illustrate how savings can grow by collecting money in a jar or container.
2. Needs vs. Wants – Explain the differences between needs and wants and how to prioritize spending. Use examples like toothpaste vs. another video game.
3. Allowance – Consider an allowance to teach how money is earned. Provide an allowance in a way that children can save part of it and spend part of it (for example, if an allowance is $5, give five one dollar bills so some can be saved and some spent).
4. Set a Goal – Setting a goal for savings or to buy a desired item will help teach a child to be responsible for him/herself and reinforce the feeling of accomplishment when the goal is reached.
5. Open a Savings Account – Establish regular saving habits that will last a lifetime by opening a savings account with your child.

CHECK OUT THE LINKS on our sidebar for lots of fun resources to help your children save!