Financial Literary Club

Starting on Thursday, March 11, 2021 from 3:30 - 4:30 p.m. and every Thursday thereafter, Our Lady of the Snows will be inviting high school students to join our Financial Literacy Club.

Club meetings will take place in Mr. Ples' room.  Students will get the opportunity to gain financial literacy through board games, on-line simulators, lessons, and discussions.  Also, we plan to invite business owners and leaders in our community and abroad to come and speak to the club to enhance student’s learning.

 

Here are a number of components that the club will learn about and engage with:

Compound Interest - A basic but extremely important concept to understand (especially for youth who can use it to their advantage!) Also reverse compound interest; the importance of paying off debts, prioritizing those with higher interest first.

Assets and Liabilities - Assets and Liabilities will be taught mainly through a board game called Cash Flow. The game teaches student to ‘get out of the rat race’.  In order to do this, they need to increase their asset base while eliminating or minimizing their liabilities. Also, students will understand that cash flow is rooted in assets, while expenses are rooted in liabilities.

The Stock Market - Students will play an on-line simulator that mimics the real stock market called Investopedia.  While playing, students will learn subsequent lessons on the fundamentals of stocks and the stock market.  Students will also learn a number of strategies for investing in the stock market such as momentum trading, buy and hold, and using dividends.  Understanding and then implementing terms such as, puts, calls, diversification, and ETF’s will also be part of the game and lessons.

Business Ownership - Students will understand the advantages and disadvantages of owning a corporation. Students will also research and discuss companies that interest them then come up with ideas of how to create their own. The club will also discuss how the business model has changed in the 21st century (especially with COVID) and what they could come up with for business models with the advantage of the internet.

Real Estate - With the invention of Air B and B, the real estate industry has changed dramatically. The club will look at how real estate was used previous to the 21st century, and how it can be used differently now. Thereafter, the club will discuss how we can use ‘real estate sharing’ to our advantage.

Automatic Saving and Investment Mediums - Students will learn the value of saving, but more importantly, setting up their finances to save automatically. After, the club will learn about different investment vehicles in addition to stocks and real estate such as pensions, GIC’s, ETF’s, and mutual funds.

The aim of the club is for student’s to gain financial literacy, but to do it in an interactive and hands on approach. Our hope is this will be fun as well as more meaningful and impactful to the students. We look forward to seeing the upcoming entrepreneurs and brilliant investors in the club!