Finance at a young age?

[humandraydel]

I just remembered something interesting from 5th grade. My teacher would occasionally hand out fake money - for good grades, answering difficult questions, etc. - that we could use to buy prizes, including my favorite - getting out of a homework assignment! We were also allowed to start businesses in an attempt to make more money. This also gave classmates something to buy with their money! Well, I just remembered that I started a BROKERAGE/INVESTMENT BANK! Literally, I would bring in the newspaper every day and fellow classmates could give me money and "buy" stocks. If the stock went up, they could sell and make money. If the stock went down then I'd make money! And of course, I was skimming a little off the top for fees No joke, I became the wealthiest, most powerful person in the class. I had tons of money and started loaning out money!

Anyway, I have no idea what made me remember this, but I found it interesting. Anyone else have any interesting stories about how they learned about finance as a child?

[InDebtInDC]

I was a banker. I was saving my allowance and making loans to kids who wanted lunch money. Then I would charge them a small interest. And this was real money

[poundwise]

Originally Posted by humandraydel

Anyway, I have no idea what made me remember this, but I found it interesting. Anyone else have any interesting stories about how they learned about finance as a child?

I once had quite a number of silver dollars, given over time as gifts by my grandparents.

As a kid, oh about 11 years old I guess, I played blackjack with them and lost most of them.

That was a hard lesson. But, sometimes, the best ones are.

[humandraydel]

Originally Posted by poundwise

I once had quite a number of silver dollars, given over time as gifts by my grandparents.

As a kid, oh about 11 years old I guess, I played blackjack with them and lost most of them.

That was a hard lesson. But, sometimes, the best ones are.

Better to learn that lesson with a few silver dollars....I learned that lesson at a real casino with several hundred! I'll never do that again!

[PrincessPerky]

When I was a kid we 'played stocks' as a family...I was too young and didn't get it at all, but my brother seemed to enjoy it.

Right now I am trying to think of a way for my son to earn money..real money to use for scouting and such.

[Scanner]

My best friend decided a good business would be to steal the secretaries keys at school and then make copies and sell them to students.

He left the keys over my house after a game of basketball, the prinicipal figured out who did it and I got caught up in the disiplinary matter.

I learned:

1. Watch who you do business with.
2. Don't do anything illegal; you're guilty by association.

[loanstar]

seems like a good way to learn about money, rewards of hardwork and trading!

[Ima saver]

I started working at age 12 and I had to pay for all my own clothes, shoes, movies, school supplies, etc. Getting a small paycheck every week, taught me the value of money.

[BabyBear]

One of my earliest memories of money is in elementary school we learned how to count money with some "pop out" coins in the back of our books. They looked just like real money, although they were actually card-board like.

During recess, we could buy popsicles for 25 cents to be eaten outside while we played. My class learned that they could buy their ice cream with our fake money since they let the older kids sell the popsicles (with some guidence of a teacher). It took them awhile to catch on and our whole class got in trouble---even those of us that didn't do it (okay--maybe I did it ONCE....)

By 16, though, I had my own job at Hardee's. I had to buy my own clothes, gas for the car when I drove it (didn't have my own), personal items, music, movies---whatever I wanted I had to pay for it. I didn't think it was fair that I couldn't do everything that my friends could do--since their parents paid for it--but I am grateful for having to learn how to manage my money early in life.