An Effective Way To Help Young Kids Make Money To Become Millionaires. And Parents Too!
Kids and parents alike wonder how kids can actually make money early in life when in fact one of the early childhood skills that they learn aside from reciting the alphabet is how to spend money their Mom and Dad give them to buy their favorite ice cream.
You might wonder how kids can make money and invest wisely when in fact most kids are good at how to spend money rather than how to save money!
But before you dismiss this as totally unrealistic, better read on first and discover how kids can make money, like adults do.
Contrary to the common notion that little kids are only good at asking for money from their Mom and Dad and spend everything to buy kiddie toys, think again, because I have a different experience with my kids, and allow me to share them to you here.
One Life-Changing Experience For The Kids
This life-changing experience started on one Christmas time in 2002 when my two lovely kids, then aged 2 and 9 years old, would joyfully come home and proudly show us how much money and candies that they got from caroling around our neighborhood, and they would ask us to help them count their money while they can’t wait to unwrap their candies.
But caroling is not the way to make money that I want to share here although it was really fascinating to see them do it almost each night of that week before Christmas day so that they were able to raise a few hundred bucks, and I’m sure they got it not by their angelic voices but rather by their cute and lovely looks! But because my kids are no different from other kids their age, they would want to spend almost immediately the money they earned from caroling on every kiddie toys they liked.
So to divert their attention and to teach them the virtue of saving, I promised them that I will double the amount of whatever money is left in their piggy bank by New Year’s Eve. And you know, this simple
challenge worked wonders in the mind and behavior of our kids towards money – instead of wanting to spend their money in no time, they became busy adding up more money to their savings and they made a list to monitor how much is in their piggy bank. Their list gave me an idea how much I needed to prepare to make sure that their savings will indeed be doubled by New Year’s Eve.
New Year, New Outlook In Finances
Then that memorable New Year’s Eve of 2003 came, and we shared good food after our Prayer of Thanksgiving, it was a wonderful family time together. But before we finished our sumptuous midnight meal, the kids remembered our promise and they jumped off their seats and ran to grab their piggy banks and came rushing back with the demanding looks in their eyes – wanting us to double their savings which we did right away to avoid losing our credibility to them. So they broke their piggy banks and spread all their money on the floor and excitedly counted every bill and every coin.
Our eldest can already count well so she was the first to double her money. She got another 1,350.00 for her 1,350 savings and the other got another 1,540.50 for his savings of 1,540.50 which took him a tough time counting though, what can you expect from a 2 year old boy!
Now, for fear that they might just spend all they’ve got on just anything that catches their fancy, we asked them to invest their money. But as expected of young little kids like them, they had no inkling about investing money because they did not understand what is meant by investing money so we tried our best explaining it to them, telling them that when they invest their money it will grow more money over time. And they would ask us: “But Daddy, what would happen to our money if in case we forgot to water them?” - kids really know how to ask tough and silly questions sometimes, I tell you.
How To Grow Money 101
It was hard to explain some concepts on personal finance to kids their age, so to help them understand and absorb what we meant by investing money and growing money over time, I grabbed my computer and made an Excel worksheet program to illustrate what we meant, and showed to them how their money can grow. This illustration is shown below.
This Microsoft Excel illustration table shows how my son Ken can become a millionaire at age 28 starting with his seed money of only 3,081.00 on New Year's Eve of 2003 at a young age of 2 years old.
At first he cannot believe what he heard from me, he cannot believe that he can become rich! That's very understandable for a 2 year old son, and millions doesn't impress him either.
But now that he is 9 years old, these things makes sense to him already. He is now conscious of really saving 10.00 per day till he gets 12 years old, 25.00 per day when in high school, 50.00 per day during his college days and invest everything that he saved in our company's Credit Cooperative which can give him an average annual return of 8%, and reinvest all the money gained to make more money on an annual basis, he will be able to make 228,195.00 at age 21 or when he graduates from College.
Assuming that he works for a Company in order to gain some experience in business and at the same time save 125.00 everyday from his salary then he will be able to make 598,989.00 at age 26. That is already a lot of money to put up at least 2 to 5 small enterprises and continue to save some 500.00 from his daily revenue and invest the money on the same Business Cooperative that gives him 8% per annum, he should be able to make money at 31 years old to the tune of 2.1 MILLION already which is enough to put up a big business.
Please remember that this 2.1M comes from his investments from the Business Cooperative, we are not counting yet how much money he would make from his 2-5 small scale businesses and his main big enterprise.
Now, if he can just follow the pattern of saving money and investing money in such profitable Business Cooperative which will give him 8% annual return of investment and keep on to save money and reinvest money until he becomes 40 years old. At 40 he will be 9.5 Million richer by then just from this save-money-and-reinvest-money scheme. If his businesses will be giving him more money, just imagine how much money will he have by then!
But for illustration purposes, let us just discount whatever money he will be able to make from his businesses, let us just stick first with our scheme of some money and invest money in a Cooperative.
Consistency Is The Key
Provided that he continues to do the same scheme as shown above by saving money and investing money, he will be able to make money to the tune of 4.8 Million by age 35, or 14.5 Million by age 45, or 46 Million by at age 60, 68 Million at age 65, 99.5 Million by age 70, or a whooping 146.1 Million by age 75! What a grandiose way to retire - with 146 Million available for you.
And remember, it started with his 3,081.00 money saved from christmas carolling at age 2. That money could have gone to the mall in exchange for a nice toy or some good looking pair of branded shoes! But because of discipline and sticking to save money and investing money on a profitable business, little kids can indeed become millionaires by themselves.
My daughter Karen, following the same principles can make money out of her initial savings of 2,700.00 and invest her money on the same investment portfolio, she can pretty much make money of 2 Million at age 31, 4.6 Million at 35, 14.2 Million at 45, or 45 Million at age 60, and continue on to making money so that her total fortune can become 66.1 Million at 65, 97.2 Million at 70 or a mind-boggling 143 Million at age 75!
Money-Making Tips for Parents Too!
They can make more money if they save more and invest more. The 8% return per annum is quite low actually because their investments right now is giving them a low of 19% per annum and a high of 28% per annum!
I and my wife have also invested in this Business Cooperative and we are very satisfied with the rate our investments are growing.
You too can employ the same tactic to your kids especially because Christmas is again about to come. More of these effective ways to help your kids become multi-millionaires even at their young age in our other posts.
These are simple yet effective ways to save money and make more money - and it's very practical even for beginners. If my kids can do it, you can do it too!
You may subscribe for our succeeding posts if you wish. Thank you for visiting our site and we hope we were able to help you make your kids become successful in saving money and investing money and become successful in life. God bless you.
Other Equally Helpful Articles:
1) A Millionaire At 28
2) Learn To Take Charge of Your Money
3) Practical Ways Kids Can Learn To Make Money Online
4) Kids Should Learn Personal Finance Early In Life
You can get a free copy of the above program that I personally designed for my kids, and you can tinker them yourself, you can experiment how rich you can possibly become if you start saving and investing at your age now, and figure out how much money are you willing to save daily to reach your goal, and where you plan to invest your savings that will give you a return of say 5%, 8%, 10% or even 12% every year.
Just send me an email here and ask for a free copy - absolutely free, and I promise you I won't flood you with promotional emails and other nonsense that some guys do. I just want to help, just as what I did to my lovely kids.
Many thanks for dropping by.
Kids and parents alike wonder how kids can actually make money early in life when in fact one of the early childhood skills that they learn aside from reciting the alphabet is how to spend money their Mom and Dad give them to buy their favorite ice cream.
You might wonder how kids can make money and invest wisely when in fact most kids are good at how to spend money rather than how to save money!
But before you dismiss this as totally unrealistic, better read on first and discover how kids can make money, like adults do.
Contrary to the common notion that little kids are only good at asking for money from their Mom and Dad and spend everything to buy kiddie toys, think again, because I have a different experience with my kids, and allow me to share them to you here.
One Life-Changing Experience For The Kids
This life-changing experience started on one Christmas time in 2002 when my two lovely kids, then aged 2 and 9 years old, would joyfully come home and proudly show us how much money and candies that they got from caroling around our neighborhood, and they would ask us to help them count their money while they can’t wait to unwrap their candies.
But caroling is not the way to make money that I want to share here although it was really fascinating to see them do it almost each night of that week before Christmas day so that they were able to raise a few hundred bucks, and I’m sure they got it not by their angelic voices but rather by their cute and lovely looks! But because my kids are no different from other kids their age, they would want to spend almost immediately the money they earned from caroling on every kiddie toys they liked.
So to divert their attention and to teach them the virtue of saving, I promised them that I will double the amount of whatever money is left in their piggy bank by New Year’s Eve. And you know, this simple
challenge worked wonders in the mind and behavior of our kids towards money – instead of wanting to spend their money in no time, they became busy adding up more money to their savings and they made a list to monitor how much is in their piggy bank. Their list gave me an idea how much I needed to prepare to make sure that their savings will indeed be doubled by New Year’s Eve.
New Year, New Outlook In Finances
Then that memorable New Year’s Eve of 2003 came, and we shared good food after our Prayer of Thanksgiving, it was a wonderful family time together. But before we finished our sumptuous midnight meal, the kids remembered our promise and they jumped off their seats and ran to grab their piggy banks and came rushing back with the demanding looks in their eyes – wanting us to double their savings which we did right away to avoid losing our credibility to them. So they broke their piggy banks and spread all their money on the floor and excitedly counted every bill and every coin.
Our eldest can already count well so she was the first to double her money. She got another 1,350.00 for her 1,350 savings and the other got another 1,540.50 for his savings of 1,540.50 which took him a tough time counting though, what can you expect from a 2 year old boy!
Now, for fear that they might just spend all they’ve got on just anything that catches their fancy, we asked them to invest their money. But as expected of young little kids like them, they had no inkling about investing money because they did not understand what is meant by investing money so we tried our best explaining it to them, telling them that when they invest their money it will grow more money over time. And they would ask us: “But Daddy, what would happen to our money if in case we forgot to water them?” - kids really know how to ask tough and silly questions sometimes, I tell you.
How To Grow Money 101
It was hard to explain some concepts on personal finance to kids their age, so to help them understand and absorb what we meant by investing money and growing money over time, I grabbed my computer and made an Excel worksheet program to illustrate what we meant, and showed to them how their money can grow. This illustration is shown below.
This Microsoft Excel illustration table shows how my son Ken can become a millionaire at age 28 starting with his seed money of only 3,081.00 on New Year's Eve of 2003 at a young age of 2 years old.At first he cannot believe what he heard from me, he cannot believe that he can become rich! That's very understandable for a 2 year old son, and millions doesn't impress him either.
But now that he is 9 years old, these things makes sense to him already. He is now conscious of really saving 10.00 per day till he gets 12 years old, 25.00 per day when in high school, 50.00 per day during his college days and invest everything that he saved in our company's Credit Cooperative which can give him an average annual return of 8%, and reinvest all the money gained to make more money on an annual basis, he will be able to make 228,195.00 at age 21 or when he graduates from College.
Assuming that he works for a Company in order to gain some experience in business and at the same time save 125.00 everyday from his salary then he will be able to make 598,989.00 at age 26. That is already a lot of money to put up at least 2 to 5 small enterprises and continue to save some 500.00 from his daily revenue and invest the money on the same Business Cooperative that gives him 8% per annum, he should be able to make money at 31 years old to the tune of 2.1 MILLION already which is enough to put up a big business.
Now, if he can just follow the pattern of saving money and investing money in such profitable Business Cooperative which will give him 8% annual return of investment and keep on to save money and reinvest money until he becomes 40 years old. At 40 he will be 9.5 Million richer by then just from this save-money-and-reinvest-money scheme. If his businesses will be giving him more money, just imagine how much money will he have by then!
But for illustration purposes, let us just discount whatever money he will be able to make from his businesses, let us just stick first with our scheme of some money and invest money in a Cooperative.
Consistency Is The Key
Provided that he continues to do the same scheme as shown above by saving money and investing money, he will be able to make money to the tune of 4.8 Million by age 35, or 14.5 Million by age 45, or 46 Million by at age 60, 68 Million at age 65, 99.5 Million by age 70, or a whooping 146.1 Million by age 75! What a grandiose way to retire - with 146 Million available for you.
And remember, it started with his 3,081.00 money saved from christmas carolling at age 2. That money could have gone to the mall in exchange for a nice toy or some good looking pair of branded shoes! But because of discipline and sticking to save money and investing money on a profitable business, little kids can indeed become millionaires by themselves.
Money-Making Tips for Parents Too!
They can make more money if they save more and invest more. The 8% return per annum is quite low actually because their investments right now is giving them a low of 19% per annum and a high of 28% per annum!
I and my wife have also invested in this Business Cooperative and we are very satisfied with the rate our investments are growing.
You too can employ the same tactic to your kids especially because Christmas is again about to come. More of these effective ways to help your kids become multi-millionaires even at their young age in our other posts.
These are simple yet effective ways to save money and make more money - and it's very practical even for beginners. If my kids can do it, you can do it too!
You may subscribe for our succeeding posts if you wish. Thank you for visiting our site and we hope we were able to help you make your kids become successful in saving money and investing money and become successful in life. God bless you.
Other Equally Helpful Articles:
1) A Millionaire At 28
2) Learn To Take Charge of Your Money
3) Practical Ways Kids Can Learn To Make Money Online
4) Kids Should Learn Personal Finance Early In Life
You can get a free copy of the above program that I personally designed for my kids, and you can tinker them yourself, you can experiment how rich you can possibly become if you start saving and investing at your age now, and figure out how much money are you willing to save daily to reach your goal, and where you plan to invest your savings that will give you a return of say 5%, 8%, 10% or even 12% every year.
Just send me an email here and ask for a free copy - absolutely free, and I promise you I won't flood you with promotional emails and other nonsense that some guys do. I just want to help, just as what I did to my lovely kids.
Many thanks for dropping by.
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