by Hope
I know you read that title and wondered what in the world I had done this time. Yes, this is me admitting I can be kind of a hot mess when it comes to finances sometimes. But this time, it’s not me and frankly, it’s not real money this time.
Princess is taking an econ class at the high school and loves it. In fact, as we were discussing her college plans today she stated “maybe I’ll major in economics.” My jaw dropped. But I kept my reaction to myself…
She’s been wavering between some sort of engineering and broadcasting for some time now.
As the conversation continued to start sharing what they were doing in class…studying stocks. And that’s where the “I bought a bunch of Hershey’s because Valentines is coming…and then I’ll set it right afterward” came in.
Now, even I know, the stock market isn’t quite that simple. And I’m sure as the semester goes on, she will learn a lot more. But it was really neat to watch the way her eyes lit up. And hear how she was connecting the dots.
I’ve had similar conversations recently with Gymnast. Not so much about the stock market, but rather how shutting down the pipeline will affect way more than just the pipeline and those jobs. All he had heard was how the pipeline was bad for the environment. He hadn’t even considered the jobs attached to it, energy independence or dependence depending on your perspective and all the other products and by-products and so on.
This mama’s got to do some reading to keep up with the kids now. But wouldn’t it be a strange turn of events if my daughter became an economist…can’t say she got that from me, can I?
On the financial front, I’ve been researching some investment options for both myself and Princess’s savings accounts. Any heard of 1st Franklin Financial? They have investments starting at 6-month terms. My uncle and dad have both invested with them and highly recommend them. I’d love to hear your thoughts.
Hope is a creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 5 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.
Read the fine print on those investments. They are are not FDIC insured, and the terms are different than on a bank CD or similar investment product. They even plainly state that “Investors must rely solely on the Company’s ability to pay principal and interest on its investment securities”… In other words, you might lose everything. The rates I see offered on their site do not seem remarkable enough to justify that huge risk.
A high yield FDIC insured account, or perhaps shares in an index ETF if you are open to more risk, sounds like a better option all around.
I’ll leave this here and let you come to your own conclusion as to whether you would like to trust them with your emergency fund…..
We are not a bank. Investments offered by 1?? Franklin Financial Corporation are not bank deposits or obligations and are not insured by the FDIC, SIPC or any other federal or state agency. Investors must rely solely on the Company’s ability to pay principal and interest on its investment securities.
You might want to research Hershey and child labor. Most economics courses are fairly conservative so spend quite a bit of time and effort on the capital aspect or the business ownership aspect and almost pretend that the resource market is inconsequential but there are real world consequences for the economic choices people make and from businesses deciding to spend the least amount of money they can on their labor.This is a perfect opportunity to ask them if earning a buck should be their only consideration when deciding to support a company or if things like robbing children of their childhood should matter as well.
Very good point. Thank you.
Not FDIC insured? Yikes, steer clear.
Don’t do 1 Franklin Financial. Don’t invest in anything you don’t understand or that is too far out there.
Here is a perfect opportunity. Suze Orman has a deal with Alliant Credit Union. If you are not already a member, you can do this.
If you deposit $1200 in 12 months, Alliant will give you $100. I haven’t figured out the math but she said you’d have to $18k in the account to get that kind of return plus you will get .5% interest each month.
You have to join the credit union and if you aren’t eligible through your employer, you can donate $5 to Foster Care to Success and become a member. And, Alliant pays the $5 so it costs you nothing.
https://ww2.alliantcreditunion.org/ultimate-opportunity-savings?utm_source=suzeorman&utm_medium=direct&utm_campaign=suze21