The 2018 Chess & Fun Summer Camp was successfully completed last week from July 16 to July 20, 2018.
The kids had a lot of fun playing basketball, soccer, chess and learning the building blocks for money management. Click here to see pictures from the one-week camp:
For parents of kids that attended the camp, we encourage you to take any opportunities you have to reinforce some of the concepts the kids learned about money management including:
- The four pillars of financial management – Income (Money Coming In); Expenses (Money Going Out); Assets (What I Own); and Liabilities (What I Owe)
- The relationship between these 4 pillars and how they impact your Net Worth (Assets – Liabilities)
- Different ways they can generate income such as Babysitting, dog walking, car washing, etc
- The concept of saving and deferred spending
- Ways to manage expenses such as self-control, researching before buying, budgeting and thinking “used” instead of “new”
- Types of assets and differences between assets that appreciate in value and those that depreciate in value
- Difference between bad debt and good debt and why it is better to borrow to buy assets that appreciate in value rather than borrow to buy assets that depreciate in value
Finally, mark your calendar for the 2019 camp scheduled to run for two weeks from July 15 to July 26, 2019. Early Bird Registration opens on February 11, 2019.
Thanks to all our workers, volunteers and the parents for your support and help.