I was starting work and riding in my car sans children, I was enjoying some financial podcasts, which my children hate to listen to. They want music not talk. They don't care what the talk is, they just hear words and act like they are listening to something that is causing their ears to bleed. Anyhow, I was listening to Financial Rock Star with Scott Alan Turner (I will actually discuss the reasons for the podcasts in a blog post soon) and I wish I could remember which podcast it was (episode 31) and it talked about teaching kids about compound interest. Since my kids listen better to any voice other than my own (it's not that they are disobedient, they just thinking everyone else carries more wisdom than me), I made them listen to that part of the podcast specifically when he mentioned how much money you would have if you were 15 years old and invested $100 and did nothing with it until retirement age. My son, who is 15 years old, perked up and now said he wanted to do that. Well, since I had to research it, I thought I would share it. First, I am giving you a link to have your own lesson in compound interest with your kids (yay- math lesson!). Second, I am including information on ways to get started because it isn't simple since children are minors. Third, a link to the Scott Alan Turner episode so you can let their sweet little ears by charmed by someone else.
http://www.fool.com/teens/teens01.htm
http://www.fool.com/teens/teens05.htm
http://scottalanturner.com/how-to-break-the-paycheck-to-paycheck-cycle/
http://www.fool.com/teens/teens01.htm
http://www.fool.com/teens/teens05.htm
http://scottalanturner.com/how-to-break-the-paycheck-to-paycheck-cycle/