Show kids the power of letting their money earn even more money through the magic of compound interest! Savings accounts at a bank are a great step in a child's financial journey, but small initial balances and low interest rates make it tough for kids to really grasp how compound interest works. Use this Interest Cheat Sheet and Interest Tracker to pay your kids interest at a rate that you select and get them excited about the possibilities of passive income.
Please note: This listing is designed to be printed on standard 8.5" x 11" letter paper; however each page of the Interest Tracker should be cut in half to make final pages that are 5.5" x 8.5" in size.
PAGES: * Interest Cheat Sheet - Step by step instructions for calculating the amount of interest you are paying given the annual rate you decide * Instructions & Example - Detailed instructions for how to use the Interest Tracker in conjunction with the Invest category in our Money Management Binders and a pre-filled Interest Tracker example sheet for reference * Interest Tracker - Ledger pages to track the amount of interest accrued in a given period, the running total of unpaid interest, and any interest payment amounts
BENEFITS: * Parents control how much interest to pay their kids and can adjust the rate as the account balance grows * Parents can track accrued interest until it crosses a given threshold (e.g. $1) rather than pay interest in small amounts of change * Kids learn about the power of compound interest much more quickly than they would grasp with their money in a bank savings account * Kids gain money math skills by calculating interest and tracking their account values
MEASUREMENTS AND MATERIALS * This is an instant download only; no physical product will be shipped * There will be (1) PDF delivered to you upon confirmation of purchase: Beyond_the_Bank_Interest_Tracker.pdf * The PDF is designed to be printed on standard 8.5" x 11" letter paper; the ledger pages are to be cut in half to create two pages per sheet * Use in conjunction with our Money Management Binders or printable Money Management System * Designed in Minnesota, USA
Use code PRINTABLES for 25% off your order of 2 or more printables from Beyond the Bank.