3 Ways Biz Kid$ Can Create Financial Success
- The Importance of Financial Literacy
Financial literacy is the set of skills and knowledge that enables you to make informed financial decisions. Biz Kid$ helps to explain the value of financial literacy, goal setting, budgeting and money management by introducing five important steps to becoming financially literate: saving money, setting financial goals, budgeting your money, spending less than you earn and using credit wisely. Biz Kid$ also teaches financial literacy basics such as; the difference between a debit and a credit card, what a credit report is, savings accounts, how to create a budget and how to set financial goals.
- How to Have a Positive Relationship with Money
There is an emotional connection between money and spending habits, and understanding this early on will help shape positive financial habits. Biz Kid$ helps teach kids about the different types of money personalities. This helps them discover what personality they most identify with. The program dives into the stereotypical spending habits of each personality and also the why behind it. This helps build a greater understanding of where money goes when it comes to financial basics such as saving and budgeting. Biz Kid$ also teaches how to identify between “wants” vs “needs” to track where your money goes, set financial goals, understand the value and costs of items purchased.
- Encourages Entrepreneurship
Entrepreneurship can begin at any age and Biz Kid$ will teach kids how to get started on the basics of creating and starting a business. Biz Kid$ showcases inspiring success stories of young entrepreneurs that resonate with students of all ages. The program shares examples of kids and teens putting their creative ideas into action and becoming successful business owners. Real celebrities and business entrepreneurs share what they did as a kid/teen, how they got started and what their first jobs were to encourage our youth of today. No matter their age, kids will find different examples of how different kids and teens around the nation are earning money. There are also ideas on how to apply for a job and how to write a resume and cover letter. Biz Kid$ offers lessons that explore how an idea can be built into a business plan, identify target audiences and how to market that plan. With correct planning a follow-through, Biz Kid$ can help take passion and a great idea to the next level, or even turn that into a profitable business!
SDCCU launched the Biz Kid$ program in partnership with the San Diego County Office of Education and the County of San Diego, in support of Live Well San Diego, in 2015. Created by the producers of Bill Nye the Science Guy, Biz Kid$ is an award-winning, comprehensive financial literacy program focused on teaching students how to use credit wisely and about the importance of saving, budgeting, investing and giving back to their communities. The Biz Kid$ program and all episodes are based on national standards for financial literacy and entrepreneurship education, and have been mapped to meet individual state standards. Each lesson includes a short video on the topic accompanied by Biz Terms and three activity worksheets. Each lesson introduces real kids and teens who exemplify what it takes to be a Biz Kid, you can meet two sisters making millions from magnets, and a pig farmer who knows all about marketing, along with other young entrepreneurs who share their creative business ideas.
Visit the SDCCU Biz Kid$ website today to help you learn more about Biz Kid$, show you how and where to find the episodes and lesson plans, what platforms you can watch the videos on, as well as redirect you to the actual Biz Kid$ website that has additional resources for youth, parents and educators.
For more information and to access online resources visit sdccu.com/bizkids. To request a complimentary presentation for your school or organization, email firstname.lastname@example.org.
To view our current list of financial wellness webinars which include Biz Kid$, please visit sdccu.com/fww and for access to financial wellness resources, visit sdccu.com/knowledge.