How to Learn the Value of Money (5 Steps)

Don't use credit cards. When you use credit cards, you don't feel the immediate cost impact of your purchase. When you pay for all of your expenses with cash, you see it quickly diminish and realize how quickly the cost of things add up.
Make a budget and stick to it. Set an allotment for donations to charity and set aside up to 10 percent for savings if you can afford it. Evaluate your budget every week and see how much you have strayed off course or how well you have done.
Talk to people who don't have a lot of money. If you have enough money that you can afford almost everything you want, it may be hard to understand the value of money. Ask someone who doesn't have a lot of money how he is able to pay the bills.
Earn an income and figure out how long it takes to earn the money to buy something. If you make 10 dollars per hour, when you go to buy something that costs 30 dollars, such as a nice dinner out, think about how it took more than three hours of work to pay for that dinner.
Look at your paycheck and add up what percentage goes to pay for taxes. Consider what those taxes could have purchased if you had the money. You will see how quickly money is spent without even knowing it. You don't have a choice about taxes, but this should encourage you to make the best choices with the money you do have.
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How to Calculate Interest Semi

Divide the annual interest rate by 2 to calculate the semiannual rate. For example, if the annual interest rate equals 9.2 percent, you would divide 9.2 by 2 to find the semiannual rate to be 4.6 percent.
Divide the semiannual interest rate by 100 to covert it from a percentage to a decimal. In this example, you would divide 4.6 percent by 100 to get 0.046.
Multiply the semiannual interest rate by the balance of the account. Finishing this example, if you have a certificate of deposit that pays interest semiannually and has an account balance of $800, you would multiply $800 by 0.046 to find you will earn $36.80 in interest.
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How to Convert APY to APR (5 Steps)

Add APY and 1 together. For example, if the APY is 5 percent, then 5 + 1= 6.
Divide 1 by the number of periods in a year. The number of periods in a year is usually 12, since most banks compound monthly. Ex: 1/12 = .83
Raise the number obtained in Step 1 exponentially by the number obtained in Step 2. Example: 6 ^.83= 1.16
Subtract 1 from the number obtained in Step 3. This will give you the periodic rate. Example: 1.16 - 1= .16
Multiply the periodic rate by the number of periods, since the formula for APR is the periodic rate multipled by the number of periods. The resulting number will be the APR. Example: 12 x .16= 1.92. (1.92 would be the APR)
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How to Make a Million Dollars in the Stock Market

Open an IRA or account that allows money to grow pre-tax. The government wants its people to be wealthy, which is why they've allowed people to open investment vehicles like IRAs that don't get taxed until you retire. If you own your own business, there are other versions of IRAs, which allow you invest even more money each year than if you are an individual.
Start early and invest often. The biggest proponent on your side is time. The longer you invest, the more money you will make. At about a 7 percent interest rate your money doubles every 10 years. Now, of course there are some years where you earn 12 percent on your money and others where you squeak out 2 percent. But it's all about the long-term picture.
Accumulate $75,000 by the time you are 28 years old. Following our example of money doubling every 10 years, this will give you about $1.2 million by the time you are 68 years old. Throw in whatever pension or 401(k) plan you accumulated during your working years, the average person would easily be able to retire in their mid-fifties. So the simple goal is to put aside $7,500 per year, or $625 per month or $20 per day. (Note that at current IRA limitations, you would have to open a separate brokerage account for $2,500 of the $7,500.)
Invest in the S and P index. Every money manager on Wall Street tries to beat the S and P. The S and P is an index that represents the broadest breath of the stock market and holds 500 of the top companies found in the US and abroad. So if the economy is flying, the S and P may earn 15 percent in a year. If we are in weak economic times, then it may only earn 3 percent. But since 1871, the S and P has returned an average of 9.4 percent (ahead of previously discussed projections.) And if you move forward in history that number gets as high as 13.4 percent per year from 1980 through 2005. (Which includes the dot-com bubble.)
Leave your money alone. Unless catastrophic events occur, the moral of the story is buy and hold. That's not to say that you should have some other money on the side that you invest more aggressively. But keep your original nugget of cash working on the side. Follow these steps and you'll easily make a million dollars in the stock market.
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