Junior achievement of Canada is well known for giving students hands on experience at setting up their own companies. Students use on interactive web program to compete as companies in a fictitious marketplace. The program teaches financial and money management, budgeting, and the difference between wants and needs. Teens so look at how their long term can education affect future. Will how they afford the lifestyle they want to lead? Does that match up with their employability skills? Yes programs are free and largely offered through schools.
The focus is on delivering more high school programs. These have a deeper impact for students who really are looking ahead, rather than banging their head against their school locker door. Albert Einstein claimed that compound interest is the greatest of all time, mathematical discovery and he had a relatively good head for figures. But kids learn most from their parents of what they know about money, to send the right message. Here are a dozen ways how: introduce children to money as soon as they can count. Discuss savings values, making money grow, and spending wisely. Let them learn the difference between needs and wishes. Show the value of saving over spending explain how interest-compound interest-works on savings.
Give them to basis and change them to save. For example, give $5 a week in ones, and change them to save $1 a week. Take them to a bank or credit union and help them open a savings account. Encourage them to keep finance records. Take them shopping to teach them about money and thrift. Let them make their own spending decisions and learn from their successes and mistakes. Make them aware of borrowing pitfalls, paying interest, and accumulating credit card debt. Encourage regular family discussions about finances regularly, where younger children can add up the interest from their savings. Do the math now, and comes time when your time to stretch out in the sun, junior’ll be ready to take care of the finances. Spacelocker: The happiest space on Earth