The 2019 Chess & Fun Summer Camp was successfully completed this past week.
It was a busy and fun week with lots of chess, basketball, soccer and the building blocks for money management.
The kids learned some important concepts in chess including visualization of the board, piece play, controlling the center, castling, tactics and strategy. They were encouraged to put their learning into practice as they played their games. We had some fun chess competition for rapid and blitz chess where the top finishers won cash prizes.
In addition the kids learned the building blocks of money management. 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, be on the look out for details of our 2020 camp so you can mark your calendars. Early Bird Registration for the 2020 camp will open in February, 2020.
Thanks to all our workers, volunteers and the parents for your support and help.