Learning how to manage finances may seem to be a challenging concept but it is never too early to start teaching our children about financial literacy.
We shared about:
1) The idea to trade (buying and selling)
2) How to promote your 'business' and how to take care of your 'customer'.
3) The importance of buying what you need vs what you want
Parents allowed their child to participate by giving them one time $10 as the base amount to start off. Each day, the bazaar will be open for slightly more than an hour. Students will bring something to sell to their peers or teachers during bazaar hours. At the end of the Bazaar - depending on the amount that they earn or spend - parents may allow them to keep the money to celebrate their efforts.
We would like to thank a parent who is a risk management specialist sponsored piggy banks for our students to store their capital and earnings.
A couple of students made their own items at low cost and sold them to their friends with a small profit. Making of book mark was taught two years back by our craft teacher, Yong Jia, during the school holidays. Yi Ting took the opportunity and reproduce these self-made book marks. Ahmad made his own paper bomb and Jing Ting made a handsome amount by selling self-made slime. She and Yan Kai topped the charts in earning the most at the end of the bazaar. We hope that we have sparked their entrepreneurial spirit.
Regardless of the profits or losses, the smiles on their faces were priceless.