This lesson is designed to get students interested in economics and personal finance. While financial planning may seem to be dull and time-consuming, finding out how to become a millionaire is a topic likely to stir up considerable interest. Of course the lesson does not pretend to offer a fail-safe procedure for achieving wealth. It emphasizes, instead, self-discipline, planning, and making sound choices-about getting a good education, spending wisely, saving early and often, and taking prudent risks. Nor does the lesson imply that the main goal in life is to become wealthy. Wealth, in itself, is no guarantee of happiness. But wealth can expand the range of choices available to people as they establish and pursue their life goals.
Concepts
- Compound interest
- Compound Interest
- Income
- Interest
- Investing
- Saving
Standards in Economics and Personal Finance
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