survived day 1 of teaching financial management. it's not as boring as it sounds. i'm lying.
Kinvara2 Pomegranate Miles: 5.50
Night Sleep Time: 0.00
Nap Time: 0.00
Total Sleep Time: 0.00
From Kam on Mon, Jan 09, 2012 at 22:46:27 from 188.8.131.52
I've always thought of teaching the financial literacy class in High School as a dream job. Imagine my disillusionment right now.
From Maurine/Miles on Mon, Jan 09, 2012 at 23:04:06 from 184.108.40.206
I imagine it is exciting as writing documentation for application development is many days.
From Fritz on Mon, Jan 09, 2012 at 23:06:26 from 220.127.116.11
Not sure the age of your students but I think this is a good lesson on the power of compounding. http://raju.varghese.org/articles/powers2.html
Invest early and often. :)
From SlowJoe on Mon, Jan 09, 2012 at 23:14:09 from 18.104.22.168
I almost fell asleep just reading "financial management." Good luck.
From Jake K on Tue, Jan 10, 2012 at 13:30:21 from 22.214.171.124
"This sounds like a get rich quick scheme"
"YES, thank you - you will get rich quick... we all will"
From glidergirl on Tue, Jan 10, 2012 at 14:47:52 from 126.96.36.199
Great running! So you work at a food place and teach, too? Are you in school or graduated? And what is your profession? What is James in school for? Sounds interesting! :)
From Fritz on Tue, Jan 10, 2012 at 19:55:57 from 188.8.131.52
not quite get rich quick. just depends on how much you invest, how often and your rate of return. link just shows the effect of compounding.
Below shows the return from one time, $1,000 investment that returns 10% a year for 20 years. Of course a 10% return on $1,100 is higher than a 10% return on $1,000. etc ---> grows exponentially! Adding more each year or a bigger investment up front only makes it better.
From allie on Tue, Jan 10, 2012 at 21:13:26 from 184.108.40.206
fritz - have you ever read "the wealthy barber?" that guy got me all excited in college about becoming rich, but then i never did anything about it. any day now...
the next step in the class is having my students calculate their student loan payments of varying amounts over various periods of time so they can see how quickly the interest can spiral out of control. they love that. i also show them the power of compounding like the example you just posted and then they really start getting excited. i'm still lying.
at least i get excited...
From allie on Tue, Jan 10, 2012 at 21:24:44 from 220.127.116.11
brooke - i work at a food place and i teach too...yes, that is about right... i teach nutrition and hospitality management to culinary students at the art institute of salt lake city. i guess you could say my current profession is "educator", but i don't really claim that because i don't plan on doing this forever. it was a good opportunity for me when i took the job and it has been a good fit for me up to this point.
i'm done with school. i graduated in '08 with a degree in nutrition and then went on to get my MBA in 2010 (go aggies!) i'm just waiting for the right moment to start my own "________" business. figuring out that blank is the first step...
james is working on his PhD in math biology at the university of utah. he will be done sometime next year. then we are going to jet off to the yasawa archipelago in fiji and sell coconut water and limeaid.
From Fritz on Wed, Jan 11, 2012 at 01:14:19 from 18.104.22.168
I haven't read that book and I still get excited about this stuff. I still don't understand why Personal Finance, at least when I attended, isn't a required class in high school. Just think, your lessons can change the world and possibly convince people that they need to save over 1% of their income.
From Predog on Wed, Jan 11, 2012 at 22:55:27 from 22.214.171.124
Allie, my parents forced me to read the Wealthy Barber (actually, as far as finance books go it wasn't bad). I also took a Family Finance class a few semesters ago. I now have a Roth IRA with automatic deposits every month and reinvested dividends, along with my traditional savings account and a CD that is getting me 4.5% interest. I also have my own life insurance. For a 25 year old college student working at Kmart that's not too bad I think. So don't give up hope...sometimes it sticks...sometimes...
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