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) How to buy and sell to friends within the guideline in this Bazaar experience,
2) How students can go about being a happy buyer and
3) How to be a better saver after earning money
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 were fortunate to have 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 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.