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Trying to teach grandkids how never to be broke-

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Trying to teach grandkids how never to be broke-  Reply with quote  

A couple of my grandkids have just started work, So I thought I would try to help them, by showing them how to get through life, without too much strain on their finances - | have, on my desk a jar with $100.00 worth of coins. Each grandchild in turn was offered this money, on condition that they follow my instructions: To open a deposit account at a bank of their choice, and every pay they add 10% of their take home pay, and to never withdraw from this account, no matter what, with the ability to borrow against this fund as it grows with compound interest. The golden rule of staying solvent : "Never touch the principal" But they both declined the offer, saying they wouldn't have the discipline to go through with the plan
Post Mon Oct 24, 2016 7:19 am
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