4 ms·

Sure, saving money isn't the best strategy, but it sure beats "spend every dime the minute you get it" which is what children are naturally inclined to do. Tea

• sidlls 5y ago
  It is a bad step as it is usually taught, though (that is, as and end goal itself rather than, for example, as a means to better investments). Any astute kid is going to look at the “compound interest” argument as laughable. It only works if there is sustained, substantial additional contributions over a lifetime. This is especially true for people in lower income brackets. Try convincing a kid with even modest arithmetic skills that saving $2 (or $20, or even $200) and letting it compound is “smart.”
  • andai 5y ago
    But $2 of BTC... ;)
    • arcticbull 5y ago
      And what, it's down, adjusted for inflation, 40% on a 1-year basis while the dollar is down 8.5%. Literally the worst inflation hedge. If you'd bought US Series I savings bonds you'd be dead flat in real dollar terms. That's an inflation hedge. Lord help you if you bought NFTs of Tweets.
    • deleted 5y ago
      [deleted]
  • klyrs 5y ago
    > It only works if there is sustained, substantial additional contributions over a lifetime. That's literally how I was taught about compound interest: saving money means making weekly/monthly/annual contributions. And that was a regular (non-honors) class in an inner-city middle school. > Try convincing a kid with even modest arithmetic skills that saving $2 and letting it compound is “smart.” No, that's idiotic. I think you're beating on a straw man.
• arcticbull 5y ago
  That's not the only alternative though, and that's the point.