Liam Consultants’ Junior Investors Series financial literacy course is a spin-off from our Young Investors Series comprising three modules that will be taught in 2-hour sessions each for a total of 6 contact hours.
Our junior program has been tailor-made for Upper Elementary school children to raise their awareness of the role of money in their day-to-day lives.
As with our Young Investors Series for teenagers, we use games developed in-house to simulate real-life financial situations, where students get to make financial decisions and experience the consequences.
The following is a summary of each module:
1. All about Money – We start with the different forms of income so that children will understand the various ways of “earning money”. In other words – where does money come from?
2. All about Spending – “Spending” is deliberately introduced before “Saving” because all children know how to spend. Hence our second module explains the
cost of living and why they need to differentiate (probably for the first time in their lives) between needs and wants. The children learn how to spend effectively i.e. to make the most out of their dollar.
3. All about Saving – Once they learn how money works, children often display an instinctive conservatism. We have observed time and again that once children learn they can buy things they want with money, many children will begin hoarding every nickel they can get their hands on. This is where we introduce how to budget and impart the concept of deferred gratification – the idea that they can get something significant that they want later on, by making small sacrifices today. We also introduce the concepts of interest and compound interest, without requiring the children to calculate these.