The $1 000 Project
I read The $1 000 Dollar Project by Cana Campbell which explains in layman terms how to set yourself up a path to enable you to investment in the stock market. I will be teaching my kids the following major learning points from the book
- Set yourself a goal at saving a small amount of money say $100 and build this up to a larger sum to invest in shares that pay a dividend
- Build a passive income from your share investment and reinvest this money to buy more shares
- Putting together a list of ways to earn income – my son has already started an online business and has almost reached $1 000 – I will now help him to invest
- Teach the principle of trying to pay all expenses in cash and not to get into credit card debt (toxic debt)
- Always give some of your money to a good cause – we collect gold coins and put into money boxes, so we can give to charity every 6 months – my kids have taken this one on board already
I really enjoyed reading the book as it really covers practical and helpful ways to build your wealth