Money Talks Monday (1/1/18)

That's right, #MoneyTalksMonday has been moved to my blog! As some of you may know, I currently hold the title of Miss Metrolina 2018. As a titleholder, I have the privilege to passionately promote a personal platform close to my heart and necessary to the community. Money Talks: Student Focused Principles of Financial Management was launched in the Fall of 2016 and has continued to grow with the support of financial institutions and partnerships within North Carolina's education system.

This week's Money Talks Monday comes at a great time, New Year's Day. This is a great time to for people of all ages to begin saving money, however; I am most commonly asked, "How do I teach my (students, children, teens) to save money?" There are actually many simple ways of doing so, yet two of the most effective were created in the late 1970s by the Gerber Life Grow Up Foundation; the same foundation responsible for some of the world's most secure and lucrative life insurance policies. Visual adaptations of two plans created by Gerber Life are here for you to use as a guide to teach your family or classroom a very simple, and fun, way of . The first image is a great plan for children who either get an allowance or earning from household chores.

This 52-week money saving challenge teaches children how quickly saved money can add up. A small deposit each week in their penny bank will result in over $330 dollars in savings over a year. A wise parent, along with his or her child(ren), might choose to participate in this exact same challenge simultaneously. It's a great little savings plan for children, yes, but it also offers a very interactive way for parents to model a saving mindset in the household; not to mention a year-end result where an extra $300+ can be taken directly to the college fund account on January 2nd of each year! For teenagers who work part or full time, the second program is great, simple way of teaching them the foundations of savings.

This reverse bulk savings plan, also developed by Gerber Life, teaches to importance of a significant initial investment can make a large end result. It is a great way of showing the importance of living within means and making larger initial or down payments of life purchases to lower monthly payments. There's no time like the present, the beginning of a new year, to start teaching your children or students, regardless of age, simple ways of savings. Thanks Gerber Life for these great examples! Happy New Year North Carolina!