Start with whole numbers when explaining compound interest at first. Explain the concepts of earning money by saving with a high-interest rate. Then, use websites (like https://www.investor.gov/) to calculate compounding interest over time. There, the child can do calculations on how much they'd earn at different interest rates.  You can say something like, "If you saved $10 a month until you were 22, you'd have $1,200 but if you started saving in 5 years, you'd only have $600." You can also say something like, "If you saved $100 in an account with a 15% compounding interest rate over 30 years, you'd have over $6,500!" Search online with the teen and suggest different opportunities that might be beneficial. Businesses are also likely to hire around gift-giving holidays. Visit local businesses around the holidays and ask them if they are hiring. Once the teen gets a job and starts earning their own money, they’ll better understand the value of money and the hard work that it takes to earn.  Help the teen dress for the part and write their first resume. Walk them through the entire job-searching process because it can be overwhelming at first. The teen can work as a busser, server, cashier, or as a customer service representative in a retail store. Write down a list of your teen’s income and expenses every month and subtract the expenses from the income. This will give the teen a good idea of how much money they can spend after they get paid. Go over the budget with the teen and see where you can eliminate costs so that they can save more.  Creating a budget is also very beneficial if the teen has things they are paying for themselves, like a monthly cell phone bill or car insurance. If you notice that they spend a lot on clothes or other things they don’t need, talk to them about the value of saving. For example, if the teen makes $150 per week at their job and their total weekly expenses are around $100, it means they have $50 they can save or use for spending money.  You can create the budget in a spreadsheet instead of using pencil and paper. Another option is to let your teen use the expense analyst tool on your bank’s website, or an app, such as “You need a Budget.” This will give your teen a visualization of where their money is going. Some banks will only allow teenagers under 18 to open a bank account with an adult. Take the teen to the bank and talk to a representative about opening up a joint account. This will provide a means for the teen to save money and will give you the power to monitor how they are spending they are money.  Once you set up the account, show them how to use any online banking features. Walk the teen through setting up their pin number and using the ATM. Explain what taxes are used for and the programs that they fund. You should also fill out tax forms with the teen during tax time on websites like TurboTax or H&R Block. Guide them through the steps and explain everything to them as you do their taxes together. The IRS student portal has exercises and information that the teen can use. Visit the IRS student portal at https://apps.irs.gov/app/understandingTaxes/student/index.jsp. Look at colleges and compare tuition costs with the teen. Explain how the interest on loans will accrue the longer the loan isn't fully paid. Warn the teen about the dangers of credit cards and how their credit score will affect their ability to purchase a car or house in the future.  Advise the teen that they should only get a credit card if they are able to pay it off every month. Factor in the savings gained through scholarships, grants, and financial aid.
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One-sentence summary -- Explain compound interest to 11- to 14-year-olds. Help teens get their first job. Teach them how to budget. Open a savings account with them so they can save. Show the teen how to fill out their taxes if they have a job. Compare the cost of colleges to teach them about debt and credit.

Article: If your parents are happy with you they’re more likely to say yes. In the weeks leading up to your request, do your homework regularly and study for tests so that you do well in school. Additionally, stay on top of your chores. You want to be in your parents’ good graces when you ask them for a nose piercing.  Go the extra mile by volunteering for chores around the house. Your parents will appreciate your extra effort. If your parents are stressed out about something wait for a better time to ask for a piercing. Address a concern on each slide. For example, slide one could address concerns about the healing process and then explain the process in detail. Another slide might talk about the cost of a piercing and ways you could earn the money yourself. Make sure you include an introduction and conclusion slide as well. Keep all of the slides brief but be informative.  Anticipate questions and concerns. This will help you plan out your slideshow. If you’re having trouble thinking of potential concerns, ask a friend’s parent for input. Exercise your sense of showmanship by setting up a viewing area with seats and snacks. Introduce your slideshow by stating your purpose and asking them to hold all questions until the end. While presenting, speak slowly and maintain eye contact with your audience.  If your parents get angry or interrupt, let them voice their concerns and then ask them if you may continue. It is more mature to stay calm than to lose your temper. If your parents say they need time to think about it, let them have time. If you nag them they may say “no” out of anger. Create an outline by organizing your arguments into three parts: the introduction, three or four body paragraphs, and the conclusion. The introduction will acknowledge your audience and present your idea in a positive light. The body paragraphs will present the arguments you found during brainstorming and all of their corresponding solutions. The conclusion will explain the benefits to your audience.  For example, in your introduction you could acknowledge your parents by mentioning the stress of raising a child and helping them make responsible decisions. In the conclusion the benefits to your audience could include chores you’ll perform in exchange for a piercing. Use your outline as a guide to write your letter. Keep the tone of your letter positive and reassuring. Instead of writing “I’ll get mad if you don’t let me get a piercing,” write about the many reasons that a piercing would benefit your life. For example, you could explain that a nose piercing could improve your social life or help you explore your own unique sense of style. Proofread your letter and leave out emoji’s and abbreviations. Nothing looks less mature than a simple spelling mistake!
Question: What is a summary of what this article is about?
Choose a good time to ask for a piercing. Create a slideshow. Present your slideshow. Outline a persuasive letter. Write the persuasive letter.