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.

  • MMI is proud to have achieved an A+ rating from the Better Business Bureau (BBB), a nonprofit organization focused on promoting and improving marketplace trust. The BBB investigates charges of fraud against both consumers and businesses, sets standards for truthfulness in advertising, and evaluates the trustworthiness of businesses and charities, providing a score from A+ (highest) to F (lowest).
  • MMI is rated as “Excellent” (4.8/5) by reviewers on Trustpilot, a global, online consumer review platform dedicated to openness and transparency. Since 2007, Trustpilot has received over 116 million customer reviews for nearly 500,000 different websites and businesses. See what others are saying about the work we do.
  • MMI is a member of the Consumer Federation of America (CFA), 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.
  • MMI is certified by the U.S. Department of Housing and Urban Development (HUD) to provide consumer housing counseling. The mission of HUD is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD provides support services directly and through approved, local agencies like MMI.
  • MMI is proudly accredited by the Council on Accreditation (COA), an international, independent, nonprofit, human service accrediting organization. COA’s thorough, peer-reviewed accreditation process is designed to ensure that organizations like MMI are providing the highest standard of service and support for clients and employees alike.
  • MMI is a longstanding member of the National Foundation for Credit Counseling® (NFCC®), the nation’s largest nonprofit financial counseling organization. Founded in 1951, the NFCC’s mission is to promote financially responsible behavior and help member organizations like MMI deliver the highest-quality financial education and counseling services.