Money Munchkids® FAQ
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What is Money Munchkids®?
Money Munchkid®s is a company dedicated to teaching kids K-3rd / ages 5-9 financial education and money management through the creation of high-quality products and services.
Why should we teach financial education to kids?
Everyone deals with finances and money throughout their lives yet this critical life skill isn’t taught in school. When so much of what we do depends on this skill we NEED to teach it as early as possible. Research indicates children start developing habits as young as five years old. Why not start them off developing good financial habits?
Here are a few financial literacy facts that show why financial education is so important.
- Two in five adults give themselves a C, D, or F on their knowledge of personal finance.
- 56% of adults admit that they do not have a budget
- Over 1/3rd of Americans do not pay their bills on time
- The average adult has over $15,000 in credit card debt
- The average student has over $32,000 in debt
- 2/3rd of Americans are currently living paycheck to paycheck
- Most adults have less than $500 in savings
How do you teach financial education?
Money Munchkids teaches financial education in three ways:
- Retail products such as our activity books and home bundle pack,
- Financial Education Kids Course / Camp (available in greater LA area only)
- Financial education curriculum for schools
Why only ages 5-9 / grades K-3rd?
When Money Munchkids was still in the concept stages we discovered that not many companies who address financial education teach children below middle school age. We found this to be astonishing as research clearly indicates that children develop financial habits as young as five years old. If they can learn, why not teach them?
Hence Money Munchkids was created to start teaching children about financial education as soon as they were able to learn and head off bad habits before they could even start.
Why have products if you teach a course?
As much as we would like to be in every city across the US, Canada, and UK, we simply aren’t there yet. That’s why we created our activity books, kits and other financial education tools. These products will help parents who want to start teaching their children about money and money management but aren’t located near one of our courses have the opportunity to do so.
Do you need to take the course to use the activity books?
No. The activity books and the course are stand alone items.
What’s is the difference between the activity books?
Activity book 1: Make It, Count It, Keep It is more of a basic book that goes over a variety of subjects without going into a lot of depth. It’s a good place to start off. Our Activity Book 2: Making & Using Money focuses on the topics of income and expenses and has a slightly higher skill level.
Are your products good for children with special needs?
We hesitate to say our products are specifically made for children with special needs because every child is different. We highly encourage parents to make that decision for themselves based on their individual child’s needs.
Here’s what we can tell you:
- We use large font sizes in our materials for kids.
- We’ve have tried to include various styles of learning in all of our materials
- We specifically use Comic Sans font in most of our products because it was stated to be a dyslexia friendly font style.
- We’ve also been reviewed by Elizabeth Broadbent, a writer for ADDitude Magazine (an ADHD oriented magazine) who said “My child loves this — and, likely, so will yours.”
Is financial education just Math with money right?
Nope. This is a HUGE misconception. Financial education and money management include some math but are more about critical thinking, decision making and planning.
Do you also teach entrepreneurship?
Although we don’t discourage it, after all Money Munchkids wouldn’t exist if it wasn’t for an entrepreneur, we don’t actively teach it either. That’s because not everyone wants to be an entrepreneur and we want to teach kids that that’s fine. Especially because EVERYONE, regardless of job title, uses money and needs to have an understanding of finances and money management skills.
What’s the difference between financial education and financial literacy?
Not much actually. Really they both mean to understand concepts and skills regarding money and finances.