I need help...
I want to learn how to...
Find inspiration in their stories
Learn about our mission, values, and more
How MMI can serve your unique community

# Are you smarter than my 4th grader? Try his math challenge

I’ll never forget the time a former boss said, “I wish you were better at math.” While I think he could have phrased it more delicately, I can understand why he wanted me to pay a bit more attention to numbers. In order to understand money management, you really do need to have a grasp on basic math concepts. At the very least, money management requires you to add, subtract, multiply, and divide. Successful money management also requires an understanding of fractions, decimals, and percentages.

One of my favorite ways to work on my left-brain skills is to help my 4th grader do his math homework. Sounds simple, right? Well, following is last night’s math problem.

If you start with \$1 and double your money 30 times, how much money do you have at the end?

He had to turn in his assignment this morning, so feel free to leave your answer and a description on how you solved the problem in the comments section. No calculators or Excel spreadsheets! Oh, and if you know of an easy way for me to double my money 30 times, please share that too!!

For more fun math challenges, check out the National Council of Teachers of Mathematics’ Math Challenges for Families.

Kim McGrigg is the former Manager of Community and Media Relations for MMI.

• The Consumer Federation of America (CFA) is an association of nonprofit consumer organizations that was established in 1968 to advance the consumer interest through research, advocacy, and education. Today, nearly 300 of these groups participate in the federation and govern it through their representatives on the organization's Board of Directors.
• The National Council of Higher Education Resources (NCHER) is the nation’s oldest and largest higher education finance trade association. NCHER’s membership includes state, nonprofit, and for-profit higher education service organizations, including lenders, servicers, guaranty agencies, collection agencies, financial literacy providers, and schools, interested and involved in increasing college access and success. It assists its members in shaping policies governing federal and private student loan and state grant programs on behalf of students, parents, borrowers, and families.

• Since 2007, the Homeownership Preservation Foundation (HPF) has served as a trusted, neutral source of information for more than eight million homeowners. They are partnered with, and endorsed by, numerous major government agencies, including the U.S. Department of Housing and Urban Development and the Department of the Treasury.

• The mission of the U.S. Department of Housing and Urban Development (HUD) is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD works to strengthen the housing market in order to bolster the economy and protect consumers; meet the need for quality affordable rental homes; utilize housing as a platform for improving quality of life; and build inclusive and sustainable communities free from discrimination.

• The Council on Accreditation (COA) is an international, independent, nonprofit, human service accrediting organization. Their mission is to partner with human service organizations worldwide to improve service delivery outcomes by developing, applying, and promoting accreditation standards.

• The National Foundation for Credit Counseling® (NFCC®), founded in 1951, is the nation’s largest and longest-serving nonprofit financial counseling organization. The NFCC’s mission is to promote the national agenda for financially responsible behavior, and build capacity for its members to deliver the highest-quality financial education and counseling services.