5 min­utes with brit­tany teei

Snip­pets Founder of ed­u­ca­tional soft­ware, Kid­scoin, Brit­tany Teei, is pas­sion­ate about fi­nan­cial lit­er­acy and equip­ping kids with the skills and mind­set they need to be­come thriv­ing adults. Could you tell us a lit­tle bit about Kid­scoin and who it’s for? W

Parenting - - Snippets -

Kid­scoin is an ed­u­ca­tional tool that teaches chil­dren about money and sav­ing while they are young. It is de­signed for the class­room and is all about build­ing good habits and at­ti­tudes to­wards learn­ing, and around un­der­stand­ing how money works in the 'real world'. Kid­scoin gives chil­dren a fi­nan­cial vo­cab­u­lary, and the con­fi­dence and com­pe­tency to be­come fi­nan­cially-savvy adults.

What in­spired you to cre­ate Kid­scoin?

There are a num­ber of fac­tors that in­flu­enced me, but I guess it boils down to the fact that un­less you are lucky enough to come from a fam­ily who un­der­stand money well and are will­ing to teach you, then there is re­ally no other way to get a solid fi­nan­cial ed­u­ca­tion. Schools don't place a high pri­or­ity on teach­ing money man­age­ment for a num­ber of rea­sons, and as a re­sult of this, many young peo­ple leave school with no foun­da­tion in these vi­tal skills.

Kid­scoin was cre­ated to give ev­ery stu­dent, re­gard­less of their back­ground, a chance to build this fi­nan­cial foun­da­tion so they can make in­formed de­ci­sions when they leave school. De­layed grat­i­fi­ca­tion would def­i­nitely be at the top of the list. I think as hu­mans we all want things here and now! There is so much temp­ta­tion in re­tail with clever mar­ket­ing and ac­cess to 'easy' credit, that it is im­per­a­tive that chil­dren are taught about de­layed grat­i­fi­ca­tion from a young age.

I think fi­nan­cial goal-set­ting is also a great skill to de­velop in chil­dren when they are young as it can re­in­force de­layed grat­i­fi­ca­tion in a prac­ti­cal way. It's im­por­tant to be in­volved in your child’s jour­ney through this learn­ing process, while at the same time let­ting them make their own de­ci­sions and goals, and find­ing their own ways to earn and save money. This is a very em­pow­er­ing process for any child to go through.

Can you ex­plain the 'poverty mind­set?'

This is a tough ques­tion to elab­o­rate on as it is a big is­sue with many im­pli­ca­tions but, to me the poverty mind­set is when some­one sees and feels a sense of lack in their lives. It could be a lack of money, a lack of skills, a lack of knowl­edge or what­ever it is that you think is hold­ing you back from achiev­ing what you want to achieve. This could stem from your self-be­liefs and/or self-es­teem, but I would sum it up to be any­thing that makes you feel less than good enough.

When it comes to money, your fam­ily back­ground, his­tory, re­li­gion, race, and many other fac­tors can cre­ate a poverty mind­set. This can show up in var­i­ous forms, such as spend­ing more than you earn or go­ing for low paid jobs when you know you are ca­pa­ble of more, for ex­am­ple.

Kid­scoin's mis­sion is to break this poverty mind­set when it comes to money. We seek to do this by ed­u­cat­ing our chil­dren about the ba­sics of how money works through ex­pe­ri­en­tial learn­ing. By giv­ing stu­dents a chance to play and ex­plore what it's like to earn and man­age their own 'Kid­scoin money' they be­gin to ex­plore and test their own be­hav­iours and at­ti­tudes to­wards money on their own. Over­com­ing this mind­set can change lives and em­power in­di­vid­u­als, no mat­ter who they are or where they come from.

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