read through how to become a trillionaire in new book What’s the Point of Math. The lesson was on geometric sequencing. After reading the material and discussing we practiced using a compound interest calculator to simulate what her savings would be in 1, 5, 10, 25 & 50 years with different common ratios at a 3% interest rate. She is very interested in this topic and is deciding how much of her allowance to try to save each month in her savings account.

Math

• The child has learned about geometric sequencing and how it is applied in the context of savings and compound interest.
• The child has practiced using a compound interest calculator to simulate savings over different time periods and with varying ratios at a 3% interest rate.
• The child is considering the impact of saving a specific amount each month on her savings account balance over time.
• Through the activity, the child is developing financial literacy and understanding the power of compound interest in personal finance.

Social Studies

• The child has explored the concept of personal finance and long-term saving, which is a key aspect of economic decision-making on an individual level.
• The activity has prompted the child to consider the impact of savings on her future financial well-being, tying into the broader topic of economic responsibility and planning.
• Through the activity, the child is gaining an understanding of the importance of financial planning and investment for future security and prosperity.
• The child is beginning to comprehend the impact of compound interest and savings on long-term financial stability.

For continued development, you may encourage the child to research real-world examples of people who have become wealthy through saving and investing, and discuss the underlying principles and strategies that have contributed to their success. Additionally, you can guide the child in exploring financial literacy resources tailored to kids, such as games or activities that reinforce the concepts of saving and investing in an engaging manner. Finally, consider discussing real-life examples illustrating how compound interest can work in practice, and how it can lead to substantial growth in wealth over time.

Book Recommendations

• Money Matters for Kids by Larry Burkett: This book introduces kids to the basics of managing money, saving, and making smart financial decisions in simple and relatable terms.
• The Everything Kids' Money Book by Brette Sember: This book offers practical advice and engaging activities that teach kids how to earn, save, and spend money wisely, and provides insights into the world of finance.
• A Smart Girl's Guide: Money by Nancy Holyoke: This book targets young readers and teaches them about earning, saving, and spending money responsibly, covering various aspects of financial management in an accessible and interactive manner.