Original piece written by Chantal Saville on August 16th, 2019.
Toronto Money Camps for Kids Make Good Cents
Giving kids a strong basis in financial literacy should be as important as the ABCs. We’re living in a time when many adults carry a high debt load and struggle with financial understanding in topics like mortgages, credit cards, and investments. The significance of early intervention can’t be understated: researchers at the University of Cambridge have found that children form money habits as early as age 7.
For parents who want to educate their kids about financial matters, it’s not always easy to find an engaging way to do it. But Toronto kids can get ahead of the curve at ExplorerHop summer camps.
ExplorerHop began as an online teaching tool to help kids become money savvy. This family business, started by a mom, dad, and their daughter, has grown to include a couple of fun and creative summer camps where kids can increase their financial literacy, while playing and having a great time.
At Camp Millionaire (no—it’s not hosted in a gilded palace!), kids ages 7 to 14 will learn lessons that will set them on the right financial path. Starting with the basics of budgeting and saving, they move on to a virtual stock market challenge with $10,000 in pretend dollars to invest. Kids will come away with great memories and a far better understanding of how to make good financial choices.
Or how about nurturing the budding entrepreneur by sending them to the Young Entrepreneurs camp? Kids aged 10 to 14 participate in a two-week session where they learn some basics in financial literacy and then develop an idea for a business, including testing and marketing it, as well as learning how they would raise capital to launch their ideas. The session ends with the Explorer Hop version of Dragon’s Den, to showcase all the great businesses!
What about going Around the World in 5 Days this summer? This camp takes kids ages 7 to 14 on an imaginary journey across all five continents in one week, broadening their horizons by exposing them to art, music, and sports from different cultures. All this from locations in Leaside and Markham!
Future success stems from knowledge, and an age-appropriate understanding of financial matters is a valuable tool that parents can offer to their children. By creating a program that meshes physical activities, arts, and money and business education, Explorer Hop has put together a memorable and fun experience for kids that establishes the solid foundation kids need in financial literacy and entrepreneurship life skills.