Challenging kids to invest
We give our children an allowance, and require them to pay tithing and also to save 10%. We have seen good things as they start to understand the concept.
Here’s an interesting story from a blog that I read, that goes a bit further, however:
…my oldest is 10 (or entering 5th grade this next year).I recently gave her a ’summer challenge’ whereby if give her $100 and she can turn it into $150, I’ll double it — and she’ll end up with $300.
It piqued her curiosity, to say the least, and it also inspired a very interesting conversation on how she could do such a thing.
Ever since then she’s had visions of using her creativity and what interests her now (knitting, jewelry-making, etc) to make money. It’s been a very interesting adventure.
It’s one thing to teach our kids to save — very passive activity — versus teaching them to invest and make their money do something. I still have a lot to learn about it myself, too…