This year in the after-school program the kids are learning about Financial Literacy and how saving money is very important.
If there is one money concept to teach children, it would be "saving is not optional." Financial literacy requires an understanding of cash flow management; the concept of borrowing, including credit card use; how to manage risk; the basic principles of investing to meet near and longer-term goals. At the core of all of these critical concepts for financial literacy is "savings." Current income seldom provides enough resourves to meet emergencies or goals requiring bigger dollar amounts. if a child learns to save, they will understand how to keep income and expenses in balance, manage credit, and overall will build wealth and not debt.
They are going to learn about:
- History of money
- Managing money
- Earning money
- Spending money
- Saving and investing money
- Sharing and giving money
- Borrowing and lending money