Talk to Kids About Compound Interest
Here are 10 Sammyriffic quotes on compound interest parents and teachers should share with kids and use to have a money conversation with them.
1 - Benjamin Franklin, Inventor, Founding Father
Franklin prophetically reveals:
Money is of a prolific generating nature. Money can beget money, and its offspring can beget more.
Franklin is my "go-to" voice for common sense, time-tested, easy-to-understand personal finance and money management wisdom.
2 - John C. Maxwell, Author, Pastor
Maxwell conveys:
Compound interest is not just a mathematical concept, it's a life principle.
In other words, the phenomenal power of compounding goes beyond money. It applies to every facet of life. Consistent, focused, goal-driven small steps frequently and predictably unlock astounding outcomes.
This is a BIG IDEA that deserves more championing!
3 - Warren Buffet, Investor
Buffett ruminates:
My wealth has come from a combination of living in America, some lucky genes, and compound interest... Time is your friend, impulse is your enemy. Take advantage of compound interest and don’t be captivated by the siren song of the market...
It's simple: When one of the greatest investors in history shares their thoughts and experiences, it's wise to take heed. This holds especially true when they indicate that these insights were key ingredients to their success.
4 - Mellody Hobson, President, Ariel Investments
Hobson shares:
If you understand compound interest, just that alone is a game changer.
The same principle applies to Hobson, as mentioned above regarding Buffett. Hobson stands as one of the most successful minds and practitioners in personal finance. Therefore, irrespective of your current financial standing, it's imperative to seek out and prioritize 'game-changing' guidance and share it with your children and students.
5 - Albert Einstein, Physicist, Nobel Prize Winner
Einstein is widely claimed to have declared:
...compound interest is the most powerful force in the universe. Those who understand it, earn it. Those who do not, pay it...
Einstein was born in 1879, and Franklin in 1706. Even in their times, they recognized compound interest as a significant concept. Buffett, Hobson, and others still uphold its importance today. While money management wasn't their primary focus like it is for Buffett and Hobson, Einstein and Franklin were captivated by the principle's importance and championed its significance.
6 - Alexa Von Tobel, Managing Partner, Founder, Inspired Capital
Von Tobel writes:
The time to save for the future is now. Thanks to compounding interest, the earlier you start putting money away for the future, the more you will save!
Save now. Your future self is worth it. The earlier you start, the more you will save and have. That's something every kid should know.
7 - Suze Orman, Author, Personal Finance
Orman shares:
Compound interest is the snowball effect of money.
I appreciate this visualization for children, especially when combined with the other substantive and distinct explanations provided by others.
8 - Brian Tracy, Author, Self Development
Tracy articulates:
The greatest power of compound interest is its ability to multiply small amounts of money into large fortunes over time.
I love the language "large fortunes." There is an excellent chance kids will find it captivating too!
9 - James Clear, Author
Clear says:
It’s a hallmark of any compounding process: the most powerful outcomes are delayed.
Clear makes another excellent point you will want to work into your conversation with kids: the most powerful outcomes are delayed.
10 - Charles Munger, Investor
Munger voices:
The first rule of compounding: Never interrupt it unnecessarily...Compound interest is like a snowball rolling down a hill. The real trick is to start the snowball on top of the hill.
When it comes to money, adhering to rules and priorities is essential to success.
Your Thoughts
We value your input!
Share some of your favorite quotes on compound interest with us. And please join Sammy Rabbit in making the world better for kids and families by initiating conversations with them about money. Whether you're starting or continuing, today is a Sammyriffic day to dive in and HOP the MONEY TALK AHEAD with kids! Let's get them financially literate!!!
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