Graduation Time

Chances are you know someone who is graduating in the coming weeks.  A good time to think about your own planning for higher education.  Meet with your school counselor to map out a plan of what you need to do now to get started - things like knowing which classes to take, when to apply for scholarships and grants and the type of school you want to go to.  It has been estimated that a year of college costs about $30K.  Start a plan.  Go Team!  Brett Ellen, The Kids Finance Coach

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

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