A 10-Year-Old Goes Viral On TikTok With His Genius Financial Plan

10-year-old tiktok financial plan

When most people are 10-years-old, they want for things like video games, toys, cool clothes and experiences. But rarely is a 10-year-old thinking clearly and rationally about college, financial literacy, or their financial future. That is until now.

In a TikTok that has now gone viral, a 10-year-old boy approached his parents with a plan. A plan that he spent several nights perfecting. And the boy’s ultimate goal was to articulate his spending plan to his parents. He pointed out that the current cost for a two-year program at the University of Minnesota-Morris is $24,000, and if he receives money for college instead of gifts at holidays, he will be 9% of the way towards his goal, which is highly advantageous.

It is impressive that this youngster is prioritizing the significant cost of higher education over toys and material possessions. Commenters on the platform believe that his intelligence will earn him a scholarship. We think they’re probably correct in assuming that.

How He Made His Viral Financial Plan Presentation

The 10-year-old initiated his plan by asking his mother about the amount spent on his birthday presents. She revealed that they typically spend $100, which the young boy deemed satisfactory. Armed with a roll of paper and a marker, he calculated that if he received cash instead of gifts, he would have $900 by the time he turns 19.

He continued his financial inquiry and learned that the budget for Christmas presents was also $100, bringing his total to $1800. The boy then approached his father, showing him his calculations before turning the paper to his mother and repeating the final figure.

When asked by his parents if he would prefer money for college over gifts, the 10-year-old confidently replied, “Yeah!”

His mother was surprised by his response and inquired if this was what he had been working on late at night. The young genius confirmed that it was and eagerly awaited his parents’ reaction.

At the end of the video, the boy’s mother raised an excellent point about investing the money for his college fund. The boy was enthusiastic about this idea and had previously expressed his desire to invest the money.

Yes!” the boy said. “I want to invest. I’ve said that a thousand times.”

@linsfam33 It was 10:30 on a Friday night. Our youngest had been quiet. So quiet that i thought he had gone to bed. Nope. He was just preparing a finacial presentation for us. 😂 #collegeplan #financialliteracy #fridaynight #kidsarethebest ♬ original sound – n-lins

When it comes to kids, it’s impossible to tell who is going to be successful and who isn’t. However, you could probably make a safe bet that this boy will ultimately prosper in anything he chooses to do. Hard to bet against him.

After the video went viral, boy’s mother shared a follow-up TikTok revealing that the genius financial plan was entirely her son’s creation. This is not surprising given that he aspires to be a business owner, and both his parents work in economics, exposing him to financial discussions from a young age. In addition, the 10-year-old has instituted “Fancy Fridays” at school, where he dresses up in a suit jacket and tie, eschewing the casual attire of his peers.

The family has been fairly active on TikTok since the original video went viral. The boy made his own follow-up video as well that is a Q&A from the thousands of people who commented on their first video. And, just yesterday, they received a box of swag from Minnesota-Morris, which is the college the boy hopes to one day attend. Truly remarkable. 

C. James

C. James is the managing editor at Wealth Gang. He has a degree in finance and a passion for creating passive income streams and wealth management.