Where can I loan a small amount of money for a short term to help teach my daughter about investing?

Question

I've heard of websites that list requests for loans from people that have been rated based on their credit score. Any help would be appreciated.

Answer 1

Introduce her to a bank officer and open a savings account in her name with you as the custodian. Have her deposit a portion of her allowance into that account on a weekly basis. Have her make a list of stuff that she spent with the remainder of the allowance. At the end of the year see which she would rather have... all the garbage that she bought that is either out of style, size, or order and compare it to her savings account balance. Pretty powerful tool, those savings accounts...

For a more sporting approach to investing, open a stock account. Now you are lending money to corporations and betting that they will succeed.

Best of luck.

Answer 2

The president of Ariel Mutual Funds learned about investing by receiving shares of stock as a child. He is now the foremost authority of investing for the long term...and the leading African American mutual fund manager on Wall Street. Presenting a child with a share or two of stock is the best way to introduce a child to investing. See reference below.

Answer 3

Start with a money market account. www.emigrantdirect.com has a nice APY. Put about $2,000 in there for about a $7.00 per month return.

You can also use www.equiserve.com for by stock direct. Bank of America is doing fairly well.

Answer 4

Penny Stocks .com