Author Topic: Is there a thread/resources on mini money mustaches curriculum  (Read 1300 times)

Jacinle

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Is there a thread/resources on mini money mustaches curriculum
« on: November 07, 2022, 03:00:15 AM »
Long story short, I want to teach my kids money stuff while they still listen to me (before 14yo perhaps?)

Now I want to ask for the group help to contribute a curriculum and any materials (blogs / books etc)
I am planning like 15mins talk over dinner , might be once a week, for 3 years

Any good starting point?

Topics I could think of
1. Money habits
1.1 Learning about needs and wants
1.2 budgets. spendings. earnings/income

2. Investment
2.1 Time value of money
2.2 Why early saving matters - Compounded return
2.3 Setting investment goals
2.3.1 Short term - things you need
2.3.2 long term
2.3.2.1 Tuition
2.3.2.2 Car
2.3.2.3 Mortgage
2.3.2.4 Retirement

2.4 Investment Choice
A. ETFs vs mutual fund
B. Single stock investing
C. bitcoins and other exotic investment

3. Complex world scenarios
3.1 credit cards
3.2 pay day borrowing
3.3 tax

4. Wellbeing and Freedom
4.1 Invest in relationship and health and yourself
4.2 Financial and Emotional Confidence [see resource #1]
4.3 FIRE

5. Difficult questions
5.1 Why my friend have a second home/go on vacation/ have xyz

Resources
1. From https://www.guardianlife.com/news/release/guardian-announces-new-research-exploring-emotional-and-financial-confidence
  • Live within your means and have a long-term view. Creating a budget and writing down a long-term financial strategy sets a strong financial foundation
  • Know how to balance risk.  A combination of protection and investment products can help lead to higher confidence.
  • Leverage relationships with financial professionals. Seek guidance from professionals who can implement strategies for creating income streams and discuss impending opportunities and risks.
  • Pursue a financial education. Exploring online tools, attending personal finance webinars on your own or through your workplace will provide key economic trends and market news.
« Last Edit: November 25, 2022, 10:08:04 AM by Jacinle »

Chris Pascale

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Re: Is there a thread/resources on mini money mustaches curriculum
« Reply #1 on: November 09, 2022, 07:44:15 AM »
Bumping up to say that this is a very good idea - like a pinned item that is the "MMM Ideas for Kids" at the top of this topic.

Jacinle

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Re: Is there a thread/resources on mini money mustaches curriculum
« Reply #2 on: November 13, 2022, 10:33:40 AM »
Updated my original post, can't find any good resources yet.

I am now at lesson 1.  Whenever kids want something , I ask them is it needs or wants

They have also been assigned 4 money jars (virtual) to pay for school lunch, uniforms + clothes, extra-curricular activities and pocket money to spend at their discretion.
I have an investment jar created under my name buying VT, I guess it is difficult to let them do that at the moment.

We will review at end of term. 

Next lesson -
A. savings for something.  I will try to see if any big ticket item they need and create a plan to save
B. powers of savings and compound interest

Malossi792

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Re: Is there a thread/resources on mini money mustaches curriculum
« Reply #3 on: November 14, 2022, 01:45:18 PM »
Great idea, ptf.

Chris Pascale

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Re: Is there a thread/resources on mini money mustaches curriculum
« Reply #4 on: November 21, 2022, 11:14:07 AM »
Whenever kids want something , I ask them is it needs or wants



This works. With my oldest when she was 7 (2008), I had to go to a computer lab to do schoolwork and there was only 1 open computer. She said she wanted to play a game, so I said that "you want to use the computer, but I need to," and she understood that that meant I would go first.

It took a good deal of time, but the lesson stuck.