Kids market to teach financial literacy
A local mum wanting to teach her children financial literacy has created a ‘creative kids’ market’.
Melinda Hartley, the founder of Yarrabilba-based charity 5Fold, said the idea of running a market comprised of child-operated stalls came from her own children.
“My kids needed to fundraise for their school camp – I have twins so it is double the money – the school wasn’t fundraising, but we thought we should get the entitlement out of our kids and the appreciation in,” Ms Hartley said.
“So, we said: let’s work together and take ownership of this so that when you jump on that plane, you’ve got that amazing feeling of ‘I did this and I paid for my way here’, and you’ve got a better appreciation for working towards something and seeing a result.
“She was then invited to another kid’s market and did $506 in two hours.”
Ms Hartley said she wanted to bring the idea of a child-led market to the local area but wanted to “kick it up a notch”.
“Let’s teach our kids some financial education as well, because it’s not being taught in schools,” she said
“The Creative Kids Market’s mission is to empower kids to become young entrepreneurs and to understand the value of money and foster that culture of saving for significant future goals, such as their first car when they leave high school, so that they’re not starting their adult life in debt.”
To assist with this mission, 5Fold has partnered with the local Community Bank.
“Kids can come into our store to create a savings account, we can work with them if they need ideas, and we’re rolling out things to help our kids,” Ms Hartley said.
“We’re giving them a box that they can put their float in and a document about what’s income, what’s expenses, and what does profit mean.
“We have a $10 stallholder fee, and we actually send the kids an invoice with their name on it – parents have said their kids are really excited about it.”
She said there would also be adult ‘business buddies’ to answer kids’ questions and give them advice.
“They’re businessmen and women from the community that are actually running their own businesses – both franchises and independent – and we will be interviewing them throughout the market space,” she said.
“We’re not going to be babying the kids throughout it, we’re actually treating them like a businessperson.”
The first kids market is on Saturday 20 July, from 2-4pm at Yarrabilba State Secondary College’s Hall, Basalt Drive.
To apply for a stall, contact [email protected].
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