Here is another free resource I found on the internet that can help you with the financial education of your kids.
This time it is about Stocks, which could be a great way to start out, just make sure you don’t invest more than you are willing to lose in the real world.
“Stock Market Game” is a fascinating online money game where kids learn the importance of saving and investing. It can be used for kids in the fourth grade through college.
The Foundation for Investor Education is to be thanked. (“A nonprofit organization dedicated to developing and providing learning resources for investors of all ages, raising the level of investor awareness in the U.S., supporting research programs, and advocating the advancement of investor education.”) It’s the only stock market simulation supported by the New York Stock Exchange.
Kids use real internet research and news updates, making the simulation an even better mirror of the real marketplace. While the competitive game play creates excitement for kids, the educational experience delivers the biggest impact.
Imagine starting with a virtual cash account of $100,000! Your kids create the best-performing portfolio using live trading simulation. They can work alone or work together in teams, practicing leadership, organization, negotiation and cooperation as they compete for the top spot.
As kids work to grow their $100,000 virtual cash accounts into top-performing portfolios, they develop strong interests in the daily events that shape our world and begin to realize just how relevant the math, business, economics, language arts and social studies they are learning is in the real world.
Your kids research and evaluate stocks and make decisions based on what they’ve learned. They can trade common stocks and mutual funds from the NYSE, Nasdaq and AMEX exchanges; earn interest on cash balances; pay interest if buying on margin and pay a commission on all trades.
This is a great way for kids to gain confidence and build their self-esteem. No financial background or prerequisite stock market knowledge is needed. Kids have fun and learn more effectively. This is more than a remarkable experience; it’s also an education for life.
Have Fun and you, parents or guardians, may want to try this as well.
Cheers…Amanda van der Gulik…Excited Life Enthusiast! ;o)
P.S. Here are more great resources I found on Amazon to help your children learn about the stock market! Enjoy! ;o)
(Simply click on the photos, it will open up a new window, to take a “sneak peek” inside them!)