Still finding new debt

If you follow my net worth calculator, you may have seen the numbers shifting as of late. There is a reason; I both find new money and/or assets, and I find new debt. It is amazing to me how little we've known about our money. I just found another $1095 worth of student loans (and also that we missed some crucial paperwork, causing interest to start accumulating 6 months early -- ouch!). Calculating our net worth every month and actually checking every penny has resulted in my finding extra savings along with extra debt. Incidentally, it will also save us over $500 in accumulated interest as we straighten out the paperwork (and has been a good lesson in communicating with my husband about our money and accounts!).

Despite this and my relative inexperience regarding money, tomorrow I will present my finance class for kids. This is an opportunity for me to grow and learn, as my classes are very interactive and parents are involved as well as kids (for those worrying I might warp the young). These are the things I have decided to focus on:

• Money, it's origins, and money as an idea
• Marketing, specifically marketing targeted toward kids
• Saving, spending and bartering as types of transactions
• The stock market and what it means to invest in a company
• Where to find stock prices, indexes and the like
• How kids can save money and the importance of compounding interest

This may sound dry as toast when I spell it out, but I'm going to do little quizzes; for example, I have a big plastic jug, a pile of paper, a handful of beads and shells, some coins and some precious metals, and kids will get to pick what is money. Of course, it is all money or used to represent money in some kind of form. Kids who get right answers will get a quarter put in a cup with their name on it or the opportunity to "barter" for a prize. We'll have a race to find a stock (they may have to look up the name) and read a picture book about how a smart woman used one grain of rice and compounding interest to save her country from famine. Then we'll look at commercials targeting kids and talk about what is truth and what is fiction, as well as comparing various $40 items (one toy, a pile of clothes, a bag of food, etc.). I think it's going to be fun and informative.

I haven't read as much about saving and investing as I'd hoped; part of this is because I've been sick with strep throat for over a week and unable to prepare. However, I am looking forward to seeing how the kids respond.

For my next post, I want to talk about contracts, mostly about reading them, regardless of how awkward you might feel about it, and I will bring some real-life stories. Stay tuned!