“Wouldn’t it be great if we could grow our own money?!” There is a way to do just that! Are you ready to plant?
We’re going to invest. Investing money is a type of planting that will cause money to grow. When you invest
money, you promise to save it for a long time before using it. One place that saves your money for you for a
long time is called a credit union. Credit unions will give you money for “planting” your money with them.
For example, if you decided to save $4.00 a week and invested it, what would happen to that weekly 4 dollars over a year’s time? Since there are 52 weeks in a year and you saved 4 dollars a week you would have 52 x 4 or 208 dollars. Invest that money in a credit union (like a bank). The credit union will pay you dividends. Dividends are monies that the credit union gives you as long as you leave your money with them. (Banks give this money, too. They call it interest.) *1 Add these dividends to the 4 dollars you are saving each week.
Click on the link of the chart of dividends. Follow the numbers down the last column on the right. What’s happening to the numbers each year? They are getting larger and larger. Check it out! Your money is growing right before your eyes!
Here’s the cool thing. This type of investment is only one of many ways to invest your money.
Hey, I just had a thought! Do farmers plant only one type of vegetable in their fields? Sometimes, but if they want to make more money by having more to sell, they can plant all kinds of vegetables.
Why not plant some of your money in all kinds of investments. There are opportunities to invest in stock, US Treasury Bonds, Certificates of Deposit, and even college accounts to help you save for education after high school. Just Google these words online to find out more!
Plant money for yourself and see what different investments will do for you. Once you get started, the results will grow on you!
Here’s Some Heavy Cash! Every note (dollar bill), regardless of value, weighs 1 gram. That means 454 bills will equal one pound. *5
This is High Finance! If you could stack 14.5 million dollars in $1 notes (dollar bills), that pile of currency would reach a mile high.
Think you've got it? Try out these activities and practice what you've just learned.
Resources
http://www.savewealth.com/specialreports/moneytrivia
*1 http://googolplex.cuna.org/12433/glossary.html#D
*2 http://googolplex.cuna.org/12433/ajsmall/story.html?doc_id=583
*3 http://googolplex.cuna.org/12433/ajsmall/story.html?doc_id=583