A Harvard-trained financial expert shares a significant lesson about money that she would have liked to have learned at a young age. In doing so, it emphasizes the power of the compound interest effect when investing and the importance of early financial education for children.
Benefit from the compound interest effect
A financial expert with Harvard background reveals a crucial lesson about money that she would have liked to have learned at a young age. Alexa von Tobel, founder and senior partner of the risk capital fund Inspired Capital, recognizes the importance of financial foresight, but regrets that she has not already learned more about money as a child.
Von Tobel particularly emphasizes a lesson that she would have liked to understand earlier: the concept of compound interest when investing, as reported by CNBC. Accordingly, she does it today not to spend money immediately, but to invest and to benefit from interest interest in a few years.
Need for early financial education
Similar to how many children, Tobel did not receive any formal financial education from CNBC. Only as an adult did she learn the skills they needed to deal with money. She inspired her own childhood experience with money to found the online financial consultancy Learnvest in 2008. The foundation should pay off, because Tobel sold the magazine for a considerable amount of $ 375 million on Northwestern Mutual, as INC.com reports. In view of her success as a founder and investor, Tobel mastered special financial lessons due to personal experience at some point. But she believes that all children can benefit from an early discussion with this topic in order to get them on the way to future success.
Understanding the long -term advantages of investments, the benefit of your own money to work for you is exactly the type of lesson that Tobel wants to convey to children. Her hope is that children will learn clever and healthy money habits early on to consider money as a “powerful tool” that can change their lives, as they report to CNBC.
Children’s book with different lessons
Their conviction of the importance of financial education of childbones led to her latest project: a children’s book that should bring young people, especially girls, financial concepts such as earning, save and spend. Together with the children’s media brand Rebel Girls, she wrote the book “Growing Up Powerful: Money Matters”.
The book contains lessons for children and adolescents on various topics of personal finances, including determining savings destinations, creating a budget or even a business plan. It also includes an entire chapter on investing.
Editor finance.net