Growing up, the local credit union in my town set up a program where kids could bring money to school with them and have it deposited into their bank accounts. Every month, I would try to fill up my deposit envelope as much as I could. I’d save my birthday money, my allowance, and whatever I could find in the couch. I would retain a few dollars for myself, so I could afford to buy candy, but other than that it all went towards my savings.

Looking back, I wasn’t saving for anything specific. After all, I was probably only 10 years old and had no major expenses coming up in sight. What I enjoyed about this program was when the deposit envelope was returned on a monthly basis. It contained a ledger of all the transactions within the account, and this is when I fell in love with compound interest. I couldn’t believe the credit union was willing to provide me with more money, just for having made a deposit. I’d show my parents with great pride, look I made $0.57 in interest this month! What was also crazy in my mind is that the interest value would keep growing every month. I’d be rich in no time!

I loved ketchup chips as a kid and continue to this day. I remember walking through the grocery store and asking my mother how many bags of chips I could buy if I spent all my money. My jaw dropped to the floor when she answered around 40 bags. In my opinion, I was the richest guy in the world. What else would I ever need if I could afford 40 bags of delicious ketchup chips? I stayed discipline though and kept saving my money. I figured the longer I wait, the more chips I could afford. It got to the point where I wouldn’t look at how much money I had, I was instead converting it into its equivalency in chip bags. I was operating on a whole other currency.

I never ended up cashing in my savings for the chips and probably owed a few bags during my university days. My younger self would probably be disappointed I never threw the party of the year, but it was a great life lesson to learn at such a young age. I now receive immense satisfaction in helping others reach their financial goals, although I haven’t come across anyone with the same passion for ketchup chips as I have.


Disclaimer: The information contained herein was obtained from sources believed to be reliable, however, we cannot represent that it is accurate or complete. This report is provided as a general source of information and should not be considered personal investment advice or solicitation to buy or sell any securities. The views expressed are those of Marc Sabourin, Certified Financial Planner, and Investment Advisor and not necessarily those of Harbourfront Wealth Management Inc, member of the Canadian Investor Protection Fund.

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