Small Leaks Sink Great Ships..
Historically, money has never been an exciting topic with students—but this year, it sparked a wave of interest with our kiddos. Not only were kids fast at work on cost breakdown analysis, but we’re excited to discuss investing, with our recent purchase in Apple.
This semester we rolled out an optional investment curriculum that was inline with how we approach business—by doing! Students had the opportunity to contribute $5 to our pot and as a group, we voted on which stock to place our money in. Investing can be hard to understand, so our goal is to show kids the value of investing by putting them in the drivers seat. Each week, we will be checking in to see what our stock is at and once a month, do a more in-depth discussion about our losses/gaines and review what has happened/going to happen. Our hope is that this approach will not only help get kids thinking about investing, but will also open the door for conversations at home.
Our quote of the week was from Benjamin Franklin, “Beware of little expenses. A small leak will sink a great ship.” Students discussed what this meant, how this related to business and we even gained new insight about how this could also relate to your attitude and emotions. Check out what happened at our locations:
Magellan Entrepreneur Club welcomed in Richard Archer to discuss all things money. Mr. Archer is an exert in all things money. He talked with students about the importance of knowing their cost, overhead, and tracking expenses.
The students of Eanes Elementary this week were joined by Brandon Simms, of Edward Jones. Brandon kept his chat brief so he could really dive in to working with students. He made his rounds to each student group individually and shared personal feedback that related to each one! What a personal touch.
Walking into a classroom of 27 students can be a little intimidating—especially if you’re not used to working with children. Our Rawson Saunders mentor this week, Christopher Sica, wasn’t scared at all! We were SO fortunate to have not only his advice and expertise, but his passion for money. Christopher came with a hands on game for students to play that really helped them understand money, debt, and expenses!
It’s because of the incredible dedication from all of these mentors, our kids are one step closer to launching a successful business. Thank you all for your time, commitment, and support of our small business owners!
Lake Travis Community Library
We heard from speaker Mandy Rodriguez from First United Bank about the importance of banks and how students can utilize bank accounts for their businesses. Students had great questions about whether their money is safe in a bank, how interest works, and how banks themselves make money.
This week at The Breezz the focus was all about finance. The game we played was called “Make That Money”, which aims to enlighten the kidpreneurs of the significance this topic has on their businesses. After each game is played we ask the students a series of questions that forge connections between experiences during the game and practical business examples.
When asked “How does this game apply to business?” Without hesitation one student responded with “Knowing how much your products cost helps you figure out how much money you will need”. This class includes ages ranging from 6 - 13, with the preceding response coming from one of our younger kidpreneurs.