A couple of weeks ago, I brought up the idea of negative interest rates with my nine-year-old daughter, Faith. Yes, this might be something a little weird to talk about with your kid, but it piggy-backed off of our personal finance class during homeschooling. And of course, I kept it pretty high-level. I had kept it simple talking about how banks pay interest to people who store their money there. The banks then take that money and loan it out to others and charge a higher interest rate to them for things like buying a home. These concepts are important for kids to understand. Eventually, we can talk about some of the causes and effects, but for now, that’ll suffice.
Do Low and Negative Interest Rates Scare You?
