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Instructor: Team Uplift
"Session for School Children" address the importance of involving children in financial matters, teaching them budgeting skills, exploring investment options, understanding banking, and introducing them to the stock market. Also tells the lack of involvement of children in family budgets. It discusses the assumption that finance is solely the responsibility of parents and the belief that children are too young to understand budgeting. The importance of financial literacy and involving children in budgeting activities is emphasized.
It focuses on the first step towards making children financially literate, which is teaching them budgeting skills. It introduces the concept of setting SMART (Specific, Measurable, Achievable, Realistic, Time-bound) goals and emphasizes the need for tracking income and expenses to determine savings. The activity of classifying expenditures into needs and wants is also mentioned. The importance of investment is discussed highlights the benefits of investment, such as growth of money, protection against inflation, and achieving financial goals. The concept of delayed gratification and opportunity cost is introduced. The family is encouraged to discuss their concerns and evaluate different investment options.
The basics of banking emphasizes the necessity of having a bank account and explains savings and term deposit accounts. The role of cheques and other banking activities are also discussed. Activities are provided to involve the family in exploring factors influencing the choice of a bank and creating a banking profile.The basics of stock market operations mentions activities that teach children about limited companies, dividend payments, stock market terminologies, and tracking share performances. Parents are encouraged to share their experiences and discuss their views on investments in stocks. A shared family activity is provided, involving tracking the movement of stock prices.
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