User Tag List
Results 1 to 15 of 16
-
Fri, Sep 5th, 2014, 03:00 PM #1
- Join Date
- Sep 2014
- Location
- Toronto / Durham
- Posts
- 17
- Likes Received
- 23
- Trading Score
- 0 (0%)
Hey everyone!
My name is Chris and I want to start teaching kids about debt! Can you help me perfect this?
So far, my team and I have figured out a few things. Take a look:
- Kids like to have fun, and they learn better when they are.
- Most of us WISH we were taught about how to manage our money in school (why isn’t this a standard, anyways?)
- It’s to late to help most of us, but our kids still have time to learn and prepare.
Here’s our idea:
Why not teach kids early in life (aged 9-12?) about the differences between good and bad debt; How rewarding saving can be, all while having fun with activities in a small workshop setting. Not boring and repetitive statistics, but interactive discussions of saving that they can relate to at that age.
(ex. how many ice creams can you save up to have a new video game?)
We think that, if this worked than our kids would be impassioned to save later in life and would have less stress about money. Do you think it would work though? Would you be interested in your child spending an hour afterschool with other kids playing and learning about how money works? Is this better than a daycare service or how could this be a worthwhile service to both parents and kids?
Please give us some feedback, we really want to see this kind of thing in our community.
Thank you so much, folks! :D
Chris - theseedcoway.com/how-does-it-work/This thread is currently associated with: N/A
-
-
Wed, Oct 15th, 2014, 12:54 AM #2
Hi Chris, yes we definitely need financial education for our children starting at a young age and i believe it should be part of school curriculum. It's amazing how many people are living pay check by pay check. And how many people have never owned a home.
I'm with you 100% in teaching about bad debt vs good debt.
Hanna
-
Wed, Oct 29th, 2014, 07:27 AM #3
- Join Date
- Aug 2014
- Location
- Brampton, Canada
- Posts
- 30
- Likes Received
- 29
- Trading Score
- 0 (0%)
That's a good idea. But we should never ever teach our kids that they need to study hard to get a good high salary job to get rich, because the right parenting. We should just teach them how to save money for their future and always tell them that nothing is more important than God and Family..
-
Thu, Oct 30th, 2014, 11:42 AM #4
- Join Date
- Sep 2014
- Location
- Toronto / Durham
- Posts
- 17
- Likes Received
- 23
- Trading Score
- 0 (0%)
Thanks Hanna, maybe this could start a much needed awareness in schools? Tell me about it.. It's hard enough knowing that many of our generation accepts that lifestyle, but to think the next generation are currently being influenced bothers me a bit.. I think it's also just a lot of misconception, and bad habits.
Would showing kids what their parents pay for them, help? Ex. School supplies, groceries, clothes. Maybe play a game of "the price is right" to give them an idea of what things cost, giving them more money sense.
Great point, shaneB! It was probably the inherited rich people who started that rumor! I think it's a balancing act, between teaching them that family is more important than material needs and giving them reasons to save in the first place. So they don't live in the moment (or paycheck to paycheck like Hannah pointed out)
Is there a way that this could also improve family connection?
Thank you for the feedback guys! I was beginning to wonder if I was going crazy. Ha.
-
Thu, Oct 30th, 2014, 01:40 PM #5
It's a lot harder for kids this generation learn about money since we rarely ever use cash anymore. All they see is their parents pull out a card and pay for everything. They don't see the effect of spending = less cash on hand.
I think showing them expenses they can relate to to like you mentioned, plus video games, internet, electricity, gas, water etc. And compare the expenses to an average monthly income. I think that will give them an idea of what the can save in terms of money. It'll also make them aware that if they don't turn off the tap while brushing their teeth or leaving the computer on all day, not only does not wasting earths resources, but also costing them money on utility bills.
Improving on family connection? I would need some good ideas on that. My kids seems to play games all day and i still struggle everytime to get them out for quality family times.
-
Thu, Oct 30th, 2014, 02:52 PM #6
- Join Date
- Sep 2014
- Location
- Toronto / Durham
- Posts
- 17
- Likes Received
- 23
- Trading Score
- 0 (0%)
That's a good point, I didn't think of that! That's a danger that credit card companies seem to have overlooked. So working more with numbers, instead of cash might be more practical, wouldn't it? Then they would understand why this magical card has it's limits and can stop working. It might be interesting, if parents started replacing cash allowance with some card system.
Great examples, I was thinking the same thing. First knowing what they can spend in a given month, then finding out how to save for things they can't get in a month. Your example on brushing teeth/utility bills is a good point, I think it's important to teach them that there are smaller less sacrificial ways to save.
It's crazy, how hard it is to keep our kids interested in us. Whatever happened to family boardgame nights? What if they brought some of the activities from these workshops back home, or even access them online. For example, while a game of the "price is right" in a group setting might use common but random examples (tooth paste, candy bar), at home it would be a more personal experience they could directly relate to (how much their toothpaste is, that video game he got last month, that used to steal his attention) Of course, this would involve family to participate. On light activity could somehow be brought back to the workshop.
-
Mon, Nov 3rd, 2014, 06:04 AM #7
- Join Date
- Aug 2014
- Location
- Brampton, Canada
- Posts
- 30
- Likes Received
- 29
- Trading Score
- 0 (0%)
Thanks Seedco!
Give Your Kids the Right Toys! KidKraft Canada http://www.kidstoysandstuff.com - Kids Toys and Stuff
-
Fri, Jan 2nd, 2015, 08:49 AM #8
great idea!
how do you make sure kids are engaged throughout all of it?
-
Fri, Jan 2nd, 2015, 12:33 PM #9
- Join Date
- Sep 2014
- Location
- Toronto / Durham
- Posts
- 17
- Likes Received
- 23
- Trading Score
- 0 (0%)
Thanks Aj! That's the challenge, although this is simple stuff to teach adults, the concept of money and long term saving can be hard for kids to find interesting or enjoy.
We are avoiding "lectures" and letting it remain interactive. Having the kids use their own examples to dynamically change the material, so it's relevent to them. Such as "what do you want that you already don't have?" and then help them to understand how they can get this.
Games are a hand-on approach, we think is perfect for this age. We even introduce our own "cash" system early on, rewarding them with participation. We do this because we want them to hold money, see its value. Some may not have allowance and could be missing that experience.
Do you have any ideas on how to improve this? We want them interested above all else!Last edited by Seedco; Fri, Jan 2nd, 2015 at 12:42 PM. Reason: My phone decided I was finished earlier than I expected.
-
Tue, Jan 20th, 2015, 09:11 PM #10
That's a good idea that we teach our kids about finance form young age, but I still think that it's a little earlier for a 9-year-old kid to learn that, maybe 15 is better, since they already have a basic perception of finance.
-
Fri, Jan 30th, 2015, 01:39 PM #11
- Join Date
- Sep 2014
- Location
- Toronto / Durham
- Posts
- 17
- Likes Received
- 23
- Trading Score
- 0 (0%)
Thanks Grace! Ironic you mention this. We were going for some very basic stuff at first, but now we are trying to cater to the young-mid aged kids you mentioned. We still want to make sure they all have the basics, like saving, values of things they want or need. Of course, we will adapt our material as we see the kids responses over time.
At the moment, we are having trouble finding a local room to host for the public. Libraries are asking for an hourly rate, but we aren't interested in charging anyone for this. We want this available to everyone.
-
Fri, Jan 30th, 2015, 02:23 PM #12
How about going into schools and offer lunch or after school workshops? I know some schools offer after school babysitting programs where the kids really don't
have much interactive things to do. I think lunch workshops in jr high or senior high schools would be great! You'll get your targeted audience and free rent space
-
Fri, Jan 30th, 2015, 02:42 PM #13
- Join Date
- Jan 2012
- Location
- SOUTHERN ONTARIO
- Posts
- 23,520
- Likes Received
- 31448
- Trading Score
- 551 (100%)
This is such a great idea. Im always looking for ways to get my son I terested or aware of the cost of things.
For example puzza money. I dont pre order I tell him each week he needs to earn his toonie
We started with 25c per book he read as part of his homework is filling up a log of book read throughout the month
Not sure that heps you but im interested to learn more about your ideas
You could host a few games here on this threas I will gladly take part weekly or daily engaging in any tasks or quizes or anything to teach my kds the value of a dollar.JOIN NOW WIN BIG in the Survivor Pool starting in the Spring
Season 40 Winners At War
https://forum.smartcanucks.ca/435852...a/#post7022499
-
Sat, Feb 14th, 2015, 03:17 PM #14
- Join Date
- Sep 2014
- Location
- Toronto / Durham
- Posts
- 17
- Likes Received
- 23
- Trading Score
- 0 (0%)
Hanna, I'm glad you mentioned this, what a great idea! We are looking to set up some rooms at public schools (I think the schools look at it like a free volunteer field-trip, but on property) and if they like our idea, we can start some workshops!
Hey Anna, thank you! Smart idea you have there, giving him a log lets him see how much effort he has put into that pizza! (I bet the pizza tastes twice as good because of it! Hah) Actually, we already have some activities and games planned, but we want to test them out first before we start promoting them. Once we see first hand that kids are enjoying them, we're planning on releasing some on our website. Not everyone can/will do them, but at least we know some can!
-
Wed, Apr 22nd, 2015, 05:05 PM #15
- Join Date
- Sep 2014
- Location
- Toronto / Durham
- Posts
- 17
- Likes Received
- 23
- Trading Score
- 0 (0%)
Thanks again for this idea, Hanna!
To update you guys, we have started running an after-school class at a school in Durham. It's been a huge hit! The kids are surprising us by how much they already know about saving and budgeting!
It has only been a couple weeks and we've already covered things like income, expenses, saving, goals and budgeting. The only problem we had run into, is that we kept running out of time to quickly. We simplified everything, which made everything much easier to understand, and quicker to go through!
We have them for a few more weeks, do you guys have any other suggestions on topics we should include?
Also, if you guys know of any other locations in Durham, or Toronto that we could set up workshops, let us know!
Thanks for showing your interest, folks. We truly believe in this.
- Chris
Oh! Check us out on twitter if you'd like.
https://twitter.com/theseedcoway
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)