Early-childhood sets the groundwork for success later in life.
That’s not to say your child cannot be equally as successful as the next child if they start learning a skill or developing knowledge on a particular subject later than other children, but there are clear advantages to giving your child the resources and opportunities to develop important skills – especially around financial literacy – early in their childhood.
Take Warren Buffett, for example – a man worth $100 BILLION dollars and the CEO of Berkshire Hathaway. He is well-known for a great deal of things, one of which is a quote… “I made my first investment at age 11. I was wasting my life until then”.
Now, don’t get too nervous if your child just turned 12 and hasn’t started learning how to invest their piggy bank into cryptocurrency yet but on the same wavelength as Mr. Buffett’s quote, we want to talk about how 2022 should be the year your child starts developing these three long-term life skills.
1. Trading
Learning to trade means many things, such as: gaining an understanding of the stock market; mastering the concepts of risk, earnings, valuation and financial trend analysis; acquiring the ability to analyze financial news and so much more.
Your child won’t be running to Wall Street on their 17th birthday armed with knowledge on this topic and your life savings to start trading but there is clear value in beginning to develop the foundation of this knowledge now, or at least sooner rather than later. A good way to start building this foundation is through Explorer Hop's learn to trade program.
A comprehensive self-learning module that you and your child can go through together, Learn to Trade combines three levels of our nationally and internationally recognized Camp Millionaire program into one easy, fun and engaging experience for your child to begin understanding what is undoubtedly a crucial skill for them in the future.
2. Investing
Watching our money grow is one of the best feelings in the world because we spend so much time and effort trying to acquire that money. In order to watch our money grow, we need to understand how to invest, and understanding how to teach kids about investing has never been more important than now, especially with the ever-evolving reality of cryptocurrency and NFTs.
You’re probably reading this thinking, “I barely understand how to invest, there’s no way my child will at their age now”. We’re here to tell you that Explorer Hop has created a way to help with that. Building on the knowledge your child would acquire in our Learn to Trade program outlined above, we have created a gamified, risk-free way for your kid(s) to take a swing at trying to grow an investment portfolio. Starting with $30,000 in a virtual portfolio, Explorer Hop's Global Investment Challenge tasks participants with trying to grow said portfolio by investing in stocks, mutual funds and fixed income.
Think your child (aged 11 to 17) has what it takes to be one of the best young investors in our challenge and maybe even take home the $500 grand prize?
Register for our Global Investment Challenge now!
3. Personal Finance
If your child is not yet ready for the more particular areas of investing or trading, how about starting them off with a basic understanding of personal finance – like the history and basics of money or how to save and budget your money?
All important things to understand as early as possible for your child’s development, Explorer Hop’s personal finance programs are a great way to set your child up for future success by understanding money now.
Register your child now and watch as they become a personal finance savant before your very eyes in 2022 and you’ll be coming to them for financial advice sooner than you think!
Are you ready to help your child start developing these three (or any other) crucial financial literacy skills in 2022? We hope you are!
Check out our website for more.
Happy Holidays!