Some kids are incredibly focused and determined from a young age. It’s almost as if they possess a wisdom beyond their years and approach life with the maturity of adults, albeit in pint-sized bodies. These youngsters not only have a clear vision of what they want in life, but they also possess the ability to devise practical steps to achieve their goals. Such qualities are often only developed by many of us in adulthood.
Neil Lims, a 10-year-old boy, serves as a shining example of this remarkable trait. He aspires to attend Morris College, and to make his dream a reality, he spent an entire Friday evening crafting an impressive financial plan to save money for tuition. In a video that gained popularity on TikTok, Neil presents his plan to his parents in a manner reminiscent of the TV show “Shark Tank.” We can now all marvel at this young entrepreneur’s natural talent.
During the presentation, Neil unravels a large sheet of brown paper covered in mathematical scribbles, explaining how forgoing Christmas and birthday presents could lead to substantial savings for the family. He calculates the amount of money his mother spends on his birthday gift, which she reveals to be $100. Neil then considers the Christmas gift, which also amounts to $100. By saving these amounts for each year, he estimates a total of $1,800 by the time he turns 19.
Neil then proposes a striking idea: instead of receiving presents, he suggests receiving money for college, stating that it would help him achieve 9% of the current two-year tuition cost of $24,000. When Neil’s mother questions if he truly prefers college funds over presents, his answer is resolute and straightforward: “I. Care. About. My. Future.” It’s difficult to decide what is more impressive—the young boy’s analytical skills or his unwavering determination. It’s also worth acknowledging his mother’s mention of investing at the end of the video, indicating her attentiveness to his passion, which brings a smile to Neil’s face.
As the TikTok clip went viral, even Morris College took notice of Neil’s financial plan and sent him a swag box to encourage him to pursue his dreams. Although a few individuals expressed concern about Neil sacrificing toys, which some consider an integral part of childhood, studies have shown that it is perfectly normal and beneficial for children as young as four or five to develop plans for their future.
In another video, Neil’s mother shares that at the tender age of three, Neil conceived the idea of owning a candy stand with the ultimate goal of having one on every continent. Remarkably, he still operates this business today. Following his sudden rise to internet fame, Neil’s family initiated an Indiegogo campaign to help cover startup costs, including website development, business planning, and marketing.
Learning the basics of financial literacy, such as saving money, resisting impulsive purchases, and finding creative ways to earn income, can greatly benefit a child’s future. Fortunately, there are numerous enjoyable ways to teach children these skills, ensuring that one doesn’t have to possess Neil’s astuteness from birth to achieve success.
Setting financial prowess aside, it is always inspiring to witness young individuals who possess unwavering self-assurance and a clear sense of direction. Neil is a prime example of this. His determination and clarity about his aspirations are truly commendable.
@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
@linsfam33 Replying to @linsfam33 THANK YOU @umnmorris for this awesome box of fun things for the whole family!! Please follow and subscribe to us on youtube and instagram. (Linsfam33) We have a few things in the works that we will be sharing. #viral #financialliteracy #collegeplan #kidsarethebest ♬ original sound