The Rule of 72 is a great math shortcut to estimate any growth rate, from quick financial calculations to population estimations Example: Years to double your investment = 72 / Interest Rate
The Rule of 72
Labels: interest rate, investing, Making Money, Rule of 72 |
Planning Teen Wealth
Labels: income, investing, Planning Teen Wealth |Planning Teen Wealth Part 1: A fast and simple way to calculate money in and money out.
- First teens need to calculate all the income during the new month.
- Make sure you only add "for sure" income for the new month. (don't speculate)
- Now add up all basic expenses - the things you must pay for!
- Next is obvious, subtract all expenses from your income from the new month. You should have money left over, which is used to spend, save or do with what you like.
Steps To Planning Teen Wealth
- Divide Income by 4 to get earnings for each week.
- Now, divide expenses by 4 to get your total expenses each week.
- Put aside 10% for savings
- The balance that remains will be divided between investments, savings, and other personal things.
- Planning Teen Wealth is very important. These simple exercises will help so how much through your journey of learning money skills. Note, you should never have more money going out then coming in, that's destroying wealth, not building wealth!
Simple Spreadsheet of Calculating Money In and Money Out!
Income:
Income From Work: $______________
Income From Other (define)________________ $______________
Income From Other (define)________________ $______________
Total Income: $______________
Expenses:
Fun $______________
Other Expense(define)_______________ $______________
Other Expense(define)_______________ $______________
Total Expenses: $______________
Finally minus your expenses from your income to come up with the difference.
LEFT OVER INCOME: $______________
(use this for investments, fun, and other personal items)
Making Money By An Internet Service
Labels: internet services, Making Money |Today, many teens know the computer well. If you are known to be a computer person you might make lots of money providing a service on the Internet. Lets say you know HTML, how to making a website, blog, or company logo. You can post ads on craigslist and sell your service. This can make you a lot of money, just by doing something you already knew and enjoy!
Calling All Teen Writers!
Labels: Freelance Writers, ing Money, Making Money, Teen Writers |As a teen my self, I'm not much of a hard labor worker. In fact I don't like working much at all, as I am sure most teens feel. Though, if you doing something you enjoy it doesn't feel like work! If you are a teen interesting in writing, you have a great opportunity of making a lot of money as a Freelance Writer. Trying writing articles, and selling them to article selling websites. This is a great way to making a lot of money, well doing something you love!
Buisness For Teens!
Labels: Babysitting, Business, Making Money, Pooper Scooper Service |I've talked a lot about making money online, though their are many more ways to make money. A great way to make money is to start your own business. Teens can start business such as, mowing grass, pooper scooper service, babysitting etc. Easy and yet profitable stuff! I want to encourage all teens to get their business started.
Great Tips On Getting Your Business Started:
- First, Create Your Business: What Service Are You Going To Provide, and Choose a Name!
- Second, Create a free website with Weebly! , and Create Contact Info (email, phone, etc.)
- Pas Out Flyer's and The Spread The Word To Clients
- Enjoy The Money!
Future Trump (Jalen)
Long Term Dividend Stocks
Labels: dividend, FORTY, GE, investing, long term, MO, NI, PFE, short term, stocks |Sometimes, I thinks it's best to not always chase the short term, fast-cash stocks! We all, as young investors, need to learn to be patient. When you are a patient investor, you will make more money, and have more shares in long term stocks. When looking to invest in long-term stocks you want to find stocks with high dividends. Dividends pay you a certain amount of money per quarter per share you own. For example: If you have 100 shares of a company with an annual dividend of $1.00. You would get $25.00 a quarter for your 100 shares. Now this can give you options. You can either re invest the $25 back into the stock, or have a $25 check sent to you.
Not only are you getting money from the dividends, your also making money from the increasing stock price. Now in the the long term you will have more shares, meaning your portfolio will be worth more. This is why being patient is key to a smart and successful investor.
MY TOP FIVE HIGH DIVIDEND STOCKS
1. GE - General Electric-$13.59-Annual Dividend-$0.40
2. MO- Altria Group-$17.64-Annual Dividend-$1.28
3. NI- Nisource-$12.95-Annual Dividend-$0.92
4. PFE-Pfizer-$15.98-Annual Dividend-$0.64
5. FORTY-$7.90-Annual Dividend-$1.80
Start Investing and Good Luck!!
Don’t Chase The Best Funds
|If you ask a seasoned mutual fund investor what the three biggest keys to successful investing are, he or she is bound to say discipline, discipline and discipline. What does that mean, exactly? It means avoiding the temptation to react with the news.
A common behaviour by many new investors is that when they hear on the news that a particular stock or mutual fund is poised to explode, they run to their computers or cell phones and switch over every penny in investments that they have to this new hot stock. While this practice can work some of the time, if it worked all of the time without fail, investing would be a lot easier and everyone would be doing it.
Discipline is the practice of sticking with your advised investment plan, even if a more tempting offer comes along. When you first start to invest, you should have a good idea of your risk profile, your short and long term goals and the amount of money you’re able to invest. You should pick a fund that meets all of those criteria and then settle in for the long haul. The only way to make a lot of money with mutual funds is to trust that they will give you the returns you desire, and stick with it.
There are times, however, when sticking with a fund may not be a good idea. If your fund is hemorrhaging money and has been for months, you may want to switch to a more stable mutual fund. But you can’t switch over your money with every bump and swerve in the market. Not only will fees and taxes eat your principle up, you’ll have no long term plan to help you invest and meet your goals.
The two biggest demons you have to deal with are fear and greed. Both of which are valid human emotions, but both can get in the way of logical, disciplined mutual fund investing. If you can manage both your greed and your fear, you can stay away from the lemming-over-the-cliff mentality that grips so many other investors. Mutual fund investing is one case where you do want to stay the course.
Temptation is a scary thing in all aspects of life. The temptation to run to the smoking hot and fashionable mutual fund of the week is extremely high, so high in fact that many investors take it like a month to a flame. If you don’t want to get burned, avoid the investment tips from your friends and use discipline as your number one investment strategy.
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