For over a year, I have been paying J interest at the Bank of Mom.
He started with $45.00 and earned $1.35 the first month. (I pay 3% monthly.)
This month, he’s up to $231.99 and earned $6.76 in interest.
I print and email him a copy of the statement each month. (He has his own email address and when I send the statement, I add other notes and tips. Hopefully he will read these someday and remember what we talked about.)
Here’s his statement for this month: