Earning Even at A Young Age
To kickstart the month of May, which is centered around financial literacy, we discussed the different ways one can earn money. The students created lists of actions they have taken to gain money throughout their lives. Many of them listed chores, holidays, and selling lemonade.
After reviewing the students' lists, we discussed the meaning of financial literacy. Many of the students have heard of the term, however, they were unsure of the definition. We discovered that financial literacy is having the knowledge on how to make smart decisions with money. It includes preparing a budget, knowing how to save, and figuring out what is worth buying. We then discussed that even at a young age you can engage in project that can help you earn money such as creating and inventing.
To gain inspiration, the students watched two short clips of young children pitching their new inventions on Shark Tank, a television show that offers budding entrepreneurs the chance to bring their dreams to fruition.
To encourage the students to believe that they are capable of the same opportunity, they engaged in creating their own inventions or products that would solve either a world problem or an issue they or those they know experience on the daily. The students' ideas ranged from a machine that picks up tennis balls, easy-to-put-on bracelets, and holographic telephones.
The students were so engaged with this project and it really made them believe that they have the potential to come up with great ideas that can launch their entrepreneurial ambitions.