Seneca imports American program to teach kids nine to 14 financial ropes

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Managing financial expenses, buying and selling stocks, and starting an investment program all seems like something adults should worry about - not kids.

But that's exactly what one summer camp is teaching kids aged nine to 14 in one-week sessions at Seneca College, called Camp Millionaire.

And Jorge Ramos, CEO of Financial Intelligence Inc., who brought the program to Canada from California where the idea of a 'Money Camp' began six years ago, said they aren't too young to learn how to make and manage money.

"Seneca already has a very large summer camp program so it was a perfect fit," said Ramos, hoping to instill some basic money management principles so the young campers can grow up to be financially independent. "This is an area that's just lacking in Canada."

Ramos, who is also a private wealth consultant with the Bank of Montreal, trained two university students majoring in business to facilitate the program.

"You can't teach this by lecture-style," he noted.

Instead, the kids participate in interactive games and activities that teach them to pay for daily living expenses, save to invest later and accumulate wealth over time.

On the final day of the one-week session, the kids go on a field trip downtown to see a stock brokerage and bank for themselves.

"They're never sitting for more than 10 minutes," said Ramos, who has plans to offer the program at a dozen school summer camps in Ontario next year and nationwide in the subsequent year. "While Camp Millionaire is about dealing with money, half the program is about building their confidence. The kids are really enjoying it."

Kelly Allaire, Seneca Camps co-ordinator, agreed.

"It's a fantastic program," said Allaire, noting this is the first time Seneca has run a summer camp focused on business and finance.

More than 100 campers registered to take the one-week program for seven weeks, which runs until Aug. 22.

"We're virtually full for the summer," she said.

It's been a fun experience so far for Sahana Dharma, Clarissa Costa and Bethany Cheng, who were in the same group preparing to make a presentation on the real estate market.

"We've learned about stocks, a lot of different markets and about how to save," said Sahana, 13.

They've also gotten to know the other people in their class coming from all across the city.

"They're fun," Bethany said.