Piggy
Piggy
Thinking how to teach my nieces about money management as an exercise for their future life, I came out with the following game:
I will give them $50 every week, they can do anything with those $50 (buy candies or whatever their kids brain came out with), but I will give them 2 options, the first one is that they can invest the money with me and I’ll give them the following rates:
  • 25% interest rate every week, if they invest over 35.
  • 15% in the investment is over $25
  • 5% over $10.
They’ll be able to collect their money plus interest every friday or reinvest it.
The second option is this:
If they spend all their money and want some more, or if they need more than 50/week, they can borrow from me with the following rates:
  • $10 will be the minimum amount for borrowing, and will have a 20% interest rate.
  • $20 will have a 30% interest rate.
  • $30+ will have a 50% interest rate.
(Yes, I know, i’m a thief).
The total amount of the debt should be payed every friday.
What do you think? please leave a comment, all ideas are welcomed.