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Money and Finances
Reply to "Teaching kids financial basics in a zero interest rate environment"
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[quote=Anonymous][quote=Anonymous]OP here- Some interesting approaches mentioned. I had in mind relatively simple questions about how finance and the economy works. When their ""piggy bank" fills up and i tell them that it is time to put money in the bank, they naturally ask why. I think that some concepts (the bank will pay you interest for the use of your money, it then takes that money and lends it to other people and charges them interest to use it) are so foundational to the entire economy, that it is difficult to understand very much at all without them. [/quote] Have them give you the money in the piggy bank but give them back 50% more back. Show them how to repay the loan. That is what our economy is based on, lending.[/quote]
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