Kids & Money: Money mindset & money habits for life
As parents, we are determined to give the best to our children. Providing your child with financial education early on is the best gift you can give. But when do you start and what is the best way to help your child learn about money?
At FunFinance we offer structural business and finance education for kids. Our courses have been designed to help your child understand the world around us. The content of all classes has been carefully designed and adapted for kids. We talk about the topics children care about and we use case studies of young children running their own businesses.
Join FunFinance Virtual Summer Camp this summer!
“Money, the Economy and Me”
4th – 8th July 2022
Each session your child will discover economic concepts and recognise and use these concepts in their everyday life.
Key concepts covered: economy, money, goods, services, producer, consumer, retail, manufacturer, business, entrepreneur, resources, price, cost, revenue, profit, loss, expenses.
Price: €75/ $85 per week
1 hour daily live group classes on Zoom
Max. 15 students per group
“My Business World”
18th – 21st July 2022
In each session your child will be exposed to different industries and enhance their understanding of key business concepts.
Industries: arts, sports & entertainment, materials & science, fashion & consumer goods, retail & financial services, technology.
Key concepts covered: revenue, profit, loss, expenses, cash-in, cash-out, investment, marketing, advertising, distribution, import, export, patent, copyright, contract.
At FunFinance Virtual Business School we have been offering live virtual classes to kids since 2016. As a result, we have talked to hundreds of kids and parents about money. We have talked to families from more than 30 countries. We have asked many questions and we have analysed what families are doing. Today we really know what works and creates the biggest impact on kids and what results in little change.
5 top tips on raising financially savvy kids
Tip 1: Understand how your own behaviour affects your child’s attitude to money
When it comes to finance, it is often our own behaviour which will form our child’s money mindset and financial habits. We have designed an exercise that may help you evaluate what you are (or are not) doing to give your child the right money mindset and healthy money habits. CONTINUE TO THE EXERCISE
Tip 2: Avoid the traditional allowance system
“What? But this is the first piece of advice you will read on how to teach your child to manage their money!” Curious what we have to say about it? READ HERE
Tip 3: Support your child’s entrepreneurship initiatives as “silly” as they may seem
Many parents ignore their child’s first entrepreneurial ideas, even worse, we may discourage our child by explaining that their idea lacks originality or business sense. We highly recommend supporting your child’s business ideas and giving them a chance to succeed (or fail) on their own. Your child’s first business venture may not grow to be another Amazon, but they will develop many useful competencies along the way.
If you lack time or are not sure about how to support your child at this stage, consider signing up to our FunFinance Private Tutoring classes.
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Private tutoring – 5 classes€ 250,00- USD: 268,44$
Tip 4: Openly answer any questions & disclose your house economy numbers early on
Tip 5: Offer structural business & financial education before your child reaches teen years
“Finance classes for kids! Really? They are far too young to worry about money!” Does this response sound familiar? READ MORE HERE