financial literacy for young people
What is financial literacy?
In short, it is learning about money. And we agree that it is too early for kids to worry - or even care - about money. But if they learn through play, in an organic manner, to understand where money comes from and where it goes, that it can be managed to fit our needs and to plan for uncertainties, we can have a healthy adult financial life. That means enjoying what we have and being able to work with what we love - without needing to worry about money. It means building awareness of risks and opportunities arising from our (present and future) professional, spending and investment choices, rather than setting ourselves up to be a victim of the next financial crisis.
In financial education we learn how to earn, spend, save and give money responsibly.
- EARNING: is about understanding work and other ways is which people can to add value to each other - and how the value created is compensated
- SPENDING: being smart consumers and understanding what we need, what we want, want brings us joy - and what can wait. We learn to ponder our choices rather than acting by impulse or following the crowd, and to exercise self control.
- SAVING: here we learn to set objectives for the future, and that regular small efforts can get you there! We also explore ways to make the money we save work for us ....and when money works it earns money too! Through simple games we learn about investment alternatives such as stocks, real estate and bonds. And all of a sudden, Monopoly starts to make sense!
- GIVING: here we learn to share the outcome of our achievements and to help other people and our planet both through work and through charitable giving. We consider what causes we want to help and what the best way to do it can be
Financial education is not only about acquiring knowledge, but about changing attitudes and behaviours - and this is why the earlier we start, the better.
Business for kids?
Entrepreneurship can indeed start early. Just consider the number of child content providers (authors, Youtubers, or even performers at Amsterdam's Vondelpark on King's Day on a non-COVID year! ) who are actually making money.
But more desirable than being an entrepreneur (which is not for anyone, no matter what age!), we strive to teach kids how to be entrepreneurial. That is, how to develop an idea and solve a problem that people really need solving, or to bring joy to people in innovative ways - and how to organize resources to make it happen. For grown ups, the goal of entrepreneurs and of business is to make a profit at the end. But for now, we focus on learning what business should be about - adding value to its customers - and we profit by having fun!
Free content: topics for discussions and activities to be explored at home
Check our website regularly or subscribe to our new letter to get access to free contents and learning material to be taught at home
The power of learning in groups
While financial prudence can and should be taught at home, parents tend to project their own experiences, privileges and fears in their approach to money. In our group sessions, we teach financial concepts in the most objective way possible, with due appreciation for the concept of prudence, but also for enjoying the good things in life, and for generosity.
But most of all, learning in groups creates opportunities for discussions, role playing, games and practical projects that make the whole process a lot more fun - and in consequence , more effective and memorable.
Financial coaching & learning tools for mums
We encourage mothers to take a leading role in teaching their kids about finance, and we have plenty of material and tips to share.
And we also advocate a more proactive role for mothers in the management of their household and their own personal finances. More than in financial knowledge, women tend to lack in confidence when it comes to dealing with money and investments, and we are here to help with both.