By Claudia Caramantin/reporter

District business services director Kathy Crusto-Way, who has both industry and teaching experience, discussed ways to make money grow during the Love Your Money session “From Pennies to Presidents” Feb. 14.

“What was the very first lesson you learned as a child about money that your parents taught you?” she asked students.

“Money doesn’t grow on trees,” answered several students.

Money can grow quickly, and compounding is the secret to growth, Crusto-Way said. Compounding refers to generating earnings from previous earnings, such as investing money in an individual retirement account.

“The earlier you start saving, the greater the accumulated interest on your original investment,” she said.

Students become informed consumers by doing research online and then talking to a financial advisor to work on a plan, Crusto-Way said. Investing money in a bank account will not make money grow considering that banks are not paying what they once did, she said.

Making money grow depends on where and how the money is invested, Crusto-Way said. For example, people can invest in markets, a combination of stocks, bonds and mutual funds, but the level of risk in the market can affect the results.

“It just depends on how you are investing your money and where you are investing your money,” she said. “If you want something that’s high risk, then you’re going to end up making more. If you want something that is low risk, you’ll probably end up earning less.”

Education major Maria Mathisen came to get financial guidance.

“This presentation was very helpful,” she said. “I learned about the IRA and that there is a way to become free financially in the long-term.”

Crusto-Way said that it is never too late to start saving.

“Those who understand interest, earn it,” she said. “And those who don’t, pay it.”