It's never too early to start teaching your kids about money — and about starting a business.
I'm a firm believer that you're never too young to teach your children about money. You should start teaching them at a young age to earn money, save money, and spend money wisely. As they age, remember to teach other important money lessons, including setting aside money for the abstract future, as well as investing.
However, you don't need to limit your teaching to the financial basics (although the basics are extremely important). You can teach them about starting a business. There are all sorts of stories about kids starting businesses, and a solid understanding of money, and of how business works, can start your child on a path to financial freedom — on his or her own terms.
Using BizWorld to Help Kids Learn Business
Some of the tools that can be used to help kids learn about business come from The BizWorld Foundation. BizWorld provides platforms for educational learning. The first thing I noticed when I looked at the programs I was sent for review was that this not something meant for a single child. BizWorld puts together comprehensive curricula that can be used in schools.
You can learn a little more from this video:
My son and I looked through the materials sent (we received BizWiz and BizMovie) and I was really impressed with the completeness of the programs offered. The lesson plans showed how to create a hands-on experience that helps children learn about the ins and outs of money, and of business. Activities, pre- and post-tests, and suggestions for adaptations were included, making it possible for almost anyone to teach the courses.
I like that the lessons are designed to help children gain a solid understanding of how money works, and it also allows them to engage in actual enterprises. The tools, including money, stock certificates, bonds, and other items are all included in the packages, so the students have everything they need. My son and I did some of the lessons together, and he really seemed to grasp many of the concepts taught.
However, even though we were able to see how some of the activities were designed to work, and we were able to go through some of the educational exercises, it's clear that the programs are designed for classrooms and larger groups. Normally, these kits cost $189 apiece. However, during Financial Literacy Month, BizWorld's donors are sponsoring free kits to schools and districts who commit to teaching the program. So, if you are interested, head on over and find out more about it. This really is a good tool for helping kids learn about how money works — and most of us agree that we could use more financial literacy in schools.