Camp Millionaire (Aug 13-17)

Day 5 (Aug 17)

It's hard to believe 5 days have gone by.  It's been a great week. 

Today, the kids updated their portfolios with stocks from precious metals.  They picked stocks traded in different currencies and learnt how to convert money from one currency to another. 

We then learnt about Gift Giving and campers learnt valuable things like "dead weight loss" (when you spend money giving someone a present they don't want and don't need) and how our behavior of giving gifts for everything (gifts taken to play dates, loot bags after birthday parties etc)  is really not something most parents look forward to. They discussed what was a reasonable amount to spend on a present and collectively decided it was between $20-$25. 

We also learnt about bitcoin and the pros and cons of it.  They certainly had a lot of questions here. 

This week's Investment Challenge winners are: 

Level 1: Ashley (who made $1176 from the start of the challenge 5 days ago) 

Level 2: Mirabella (who made $122 from the start of the challenge 5 days ago) 

We also wanted to announce the winner of our Annual ExplorerHop Scholarship.  This is awarded to the camper who is the most respectful of his classmates.  This year, the award is given to Kevin.  He will get a free 2 week training course in Summer 2019 as a Junior Counselor with ExplorerHop. 

All the kids have worked very hard this week and it was really a pleasure working with them. 

Check out our After School Programs!  

Day 4 (Aug 16)

Wow another full day!  I can't believe how fast the day passed. 

Here's what we did today.  

Updated the stock portfolios.  A lot of the campers came very prepared. (Leo, Ashley, Liza, Mirabella, Vincent)

We then went through what they ate last night and most of them were quite surprised at how much was imported.  A couple of campers were surprised that if we did not import anything, they would not have been able to eat anything.  

Our first lesson was to talk about Sustainability and the benefit of buying local.  The campers then went through what they had eaten for dinner and came up with alternatives they could have bought which would have been produced locally. 

This was followed by a lesson about investing in Gold.  They learnt about precious metals and then did an exercise to see which would be a better investment long term - gold or stock market.  

 The trading market followed which was particularly fun today. 

Today's winners are:  

Level 1: Ashley (who made $677 from the start of the challenge) 

Level 2: Mirabella (who made $76 from the start of the challenge) 

A special mention to Leo who took the opportunity to invest in ETFs and Kevin who has decided to see if weed is actually a good investment. 

Things to do for tomorrow:

Level 1 campers: 

  1. Bring ONE company that is trading in PRECIOUS METALS.
  2. Read about the company and come prepared to share some information with everyone else.  (Ticker, Stock Exchange, Price, Info on the company)
  3. The Stock should be not in CAD.   Find out what is the Exchange Rate with CAD. 
  4. Find information about the country that has the currency (example if Stock is in USD find out what is happening in USA) 

Level 2 campers:  

  1. Bring THREE companies trading in PRECIOUS METALS.
  2. Read about the company and come prepared to share some information with everyone else.  (Ticker, Stock Exchange, Price, Info on the company)
  3. At least one of the Stocks should be not in CAD.   Find out what is the Exchange Rate with CAD. 
  4. Find information about the country that has the currency (example if Stock is in USD find out what is happening in USA) 

ALL Campers: 

  1. We will continue our Trading Market tomorrow where kids will trade things with each other.  The purpose is to teach them how to understand the value of things. Please send items to trade which you don't need back.
Friday at 3.00pm:  DIPLOMA CEREMONY.  Please come with your cameras to see all the kids get their certificates.

 

 

Day 3 (Aug 15) 

Today was a great day and we learnt a lot of stuff. 

This morning the campers first updated their portfolios with their new stocks and some kids were very well prepared and got a bonus for their portfolios (Leo and Mirabella) 

We learnt about Free Trade Agreements, NAFTA, tariffs and the benefits and negatives of free trade.  We also spoke about the current trade issues with USA and Canada.  

We then learnt about how to trade and upsell.  The campers followed the story of the person who traded his red paper pin for a house!  This story made them realize the power of trading and how any idea you have is worth trying instead of sitting and just wondering how it will go.  

Our trading market followed and quite a few kids figured out the concept of "upselling" . It was great to see.   

Finally, here are our results for the Investment Challenge. 

Today's winners are:  

Level 1: Ashley (who made $433 from the start of the challenge and who also took the opportunity to invest in South American stocks) 

Level 2: Mirabella (who made $13 from the start of the challenge) 

A special mention to Leo who took the opportunity and the risk to invest in penny stocks.  I always say, this is the time to try out all the ideas you have. Better to do it now than with your real money. 

Things to do for tomorrow:

Level 1 campers: 

  1. Bring ONE company that is trading in ANY CANADIAN STOCK MARKET.
  2. Read about the company and come prepared to share some information with everyone else.  (Ticker, Stock Exchange, Price, Info on the company)
  3. Also read the news so you know what is happening in the world and try to figure out how it impacts the company you picked.

Level 2 campers:  

  1. Bring THREE companies that are trading in ANY CANADIAN STOCK MARKET.
  2. Read about the company and come prepared to share some information with everyone else.  (Ticker, Stock Exchange, Price, Info on the company)
  3. Also read the news so you know what is happening in the world and try to figure out how it impacts the company you picked.

ALL Campers: 

  1. We will continue our Trading Market tomorrow where kids will trade things with each other.  The purpose is to teach them how to understand the value of things. Please send items to trade which you don't need back.
  2. Understanding Export and Import: Make a list of everything they eat and look on the packaging to see where it comes from.  
  3. Optional:  If you can take them to a supermarket, they should see where Potatoes, Bananas and Pasta come from.  Look at the price tag and in the bottom it should say "Country of Origin". 

Friday at 3.00pm:  DIPLOMA CEREMONY.  Please come with your cameras to see all the kids get their certificates.

Day 2 (Aug 14)

We started the day with getting news updates.  I was very impressed with how well prepared some of the campers were and they were all awarded an extra $100 in their portfolios (Liza, Ashley, Joseph, Vincent)

After that we spent some time learning about the environment and the global warming issues that the next generation are almost certainly going to face.  They saw an info video which really made them think especially the images of the sea of plastic floating in the pacific ocean the size of Ontario and Quebec confirmed. 

This was followed by a lesson on how to keep their money safe. They learnt skills needed to keep money safe: be discreet, keep your PINs safely and put your money in the bank. 

Finally, it was time to see who won the stock market challenge today.  (We have a daily winner in this camp).  The total is calculated using the amount they made in the stock market plus /minus the $100 (for good preparation) and -$100 (for bad preparation). All kids worked hard and they know that the market goes up and down. 

Today's winners are: 

Level 1: Joseph (made $166 in one day!) 

Level 2: Leo (made $10 in one day - a spectacular recovery after loosing $100 in the morning) 

Special mention to Vincent who made $124.  

Things to do for tomorrow:

Level 1 campers:  

  1. Bring ONE company that is invested in GREEN ENERGY.
  2. Read about the company and come prepared to share some information with everyone else.  (Ticker, Stock Exchange, Price, Info on the company)
  3. Also read the news so you know what is happening in the world and try to figure out how it impacts the company you picked.

Level 2 campers:  

  1. Bring THREE company that is invested in GREEN ENERGY.
  2. Read about the company and come prepared to share some information with everyone else.  (Ticker, Stock Exchange, Price, Info on the company)
  3. Also read the news so you know what is happening in the world and try to figure out how it impacts the company you picked.

ALL Campers: 

We will start our Trading Market tomorrow where kids will trade things with each other.  The purpose is to teach them how to understand the value of things. Please send items to trade which you don't need back.  

 

Day 1 (Aug 13)

It’s a great first day of camp.  I love teaching Camp Millionaire because it’s always wonderful to see how much children learn and I find they really learn a lot about life in this camp. 

We started the camp by talking about how they can as kids earn money. This was followed by them learning how to save. We spoke a lot about food wastage and how you should ask yourself 3 questions before you buy something: Do I need it? Will I use it? Will it make me happy?

We also learnt a lot about budgeting.  The campers saw how if a person earns 100k, the Govt first taxes them around 43%.  We spoke about what these taxes were for and what this means for a family budget. After this they made a family budget. Every camper had to go back and change it when they realized that they could not afford the life they thought was “basic”. :-) 

After this we spoke about investing and the campers decided how much to invest.  It was fun seeing them figure out how much they want to save for investing as well as how much they want to keep aside for having fun!  All of a sudden they realize how expensive things are.

Before we started talking about the stock market, they saw how much it costs to raise a child with only basic needs ($233,000) and the reaction was quite interesting to watch.  I think they were even more shocked to hear that the average family income in Ontario is $70,000 before tax.  The conversation certainly made them think. 

We ended the day with learning about the stock market and each of them has a virtual portfolio of $10,000 to invest. 

The following campers are Level 1: Liza, Ashley, Joseph, Anthony, Vincent.

The following campers are Level 2: Kevin, Leo, Mirabella

Things to do for tomorrow:

Level 1 campers:  

  1. Read about the company you invested in and come prepared to share some information with everyone else.  
  2. Also read the news so you know what is happening in the world and try to figure out how it impacts the company you picked.

Level 2 campers:  

  1. You have picked 1 company today.  Tomorrow you need to come prepared with the names, ticker symbols and stock markets of 2 more companies (3 in total) .
  2. For each company explain why you chose this company (it could be as simple as picking Tim Hortons and saying you like their donuts). The important thing is you have to think about why you want to put your money in something.  
  3. Also read the news so you k ow what is going on in the world and how it could impact your stock portfolio.  

Topics for parents to discuss at home: 

1) Ask your child what they should ask themselves before they buy something

2) Ask them what they would suggest you stop spending money on so you have more to invest

3) Ask them to explain to you how the stock market works and how demand and supply affects price

 

 

 


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