A group of educators in Dubai, UAE have launched an initiative to help children understand the values of money and to make sure youngsters are clued-up about their future finances.
Dubbed as “Kids' Finance Initiative,” the newly launched initiative aims to motivate, engage, teach and move to action through a financial literacy program for kids aged 9 to 15 years in addition to offering extra-curricular classes delivered by fully qualified educators with extensive experience in the world of finance.
Eight-week courses focus on teaching financial literacy through fun, activity-based learning, with topics including budgeting, investing, debt and entrepreneurship. There'll also be sessions on giving back, to ensure students develop an understanding and appreciation of social responsibility.
"Educating children on the importance of managing finances is a cause I strongly believe in," said Kids' Finance Initiative co-founder Marilyn Pinto. "I've seen my own two kids blissfully unaware, and have seen a positive change in their values and habits since I began talking to them about money in a meaningful way. The world they grow up into could well be very different to the world many of us know with far more challenges to face. We've had some tough times recently with the global economic crisis, and it's vital the young people of today are well-prepared for what life throws at them in terms of finance."
The initiative is already endorsed by leading local education figures. "With limited opportunities to gain school-age part-time employment in the UAE, students are at risk of not understanding the value of money," said Alun Yorath, headmaster of Abu Dhabi's Brighton College. "This is a wonderful initiative that fills a gap in our school extra-curricular activities provision, as participants will develop a perspective on the value of money and will be better placed to handle future personal finances responsibly."
Ros Marshall, CEO of education provider Taaleem, agreed; "This after-school activity will serve to improve the knowledge and understanding of responsible financial management for our students and we look forward to supporting this educational initiative."
Some schools are buying the programme to offer it directly to their pupils. Deira Private School is among the first to be running Kids' Finance Initiative and Clemy Fernandes, vice principal, said, "We are excited about this programme as it will help students get a head start on developing good money habits and dealing with the financial challenges of adulthood."
Classes are in two age groups; 9-11 and 12-14. The first eight-week course, costing Dh640, begins on February 4 with classes on Saturdays at Uptown School, Jumeira Baccalaureate School and Dubai British School.