The Zela Wela Kids: Nurturing financial life skills

By David Pye, Clearfacts, November 15, 2010

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Lacking resources for her own children to learn from, Nancy Phillips created the Zela Wela Kids series to promote early financial literacy.

For the Toronto native with an MBA and a degree in kinesiology, the Zela Wela Kids series is a gauged response to a gaping void which exists in terms of financial literacy tools for children.

Since its release, Phillips has done dozens of radio, television and magazine interviews, supporting her case that such a resource is both scarce and valuable.

On the wings of such overwhelming support, the concept has evolved into a 20-book series aimed at children between the ages of 4 and 17.

  • CF: How did the concept of the Zela Wela Kids series first come to you?
  • Nancy Phillips: When my oldest daughter was four and a half, I could see that she already understood that money buys things. I wanted her to learn the basics of handling money, so I wanted to find a book series that would teach her how to be a capable and responsible adult financially.
  • CF: Why is it so important for kids to start learning financial concepts at such an early age?
  • Nancy Phillips: Research shows that by the time you are 12 or 13, you already have a financial blueprint that dictates your attitudes and habits towards money. By adopting good practices at an early age, it will become second nature to them as adults.
  • CF: How did you go about making such a complex concept kid-friendly?
  • Nancy Phillips: Children who follow the series will be able to grow up and go through school together with the Zela Wela Kids, while simultaneously learning about setting goals and handling money.
  • CF: Where does the series begin?
  • Nancy Phillips: The first book is aimed at the 4-9 range and focuses on one of the most critical financial lessons that anybody can learn: getting into the habit of dividing your earnings into giving, investing, saving and spending.
  • CF: Can the series be equally educational for teens?
  • Nancy Phillips: Absolutely. Today’s teens are growing up in a credit card and ATM generation. They rarely handle money and often lack the skills to make simple financial calculations relating to interest charges, etc.

The Zela Wela Kids website offers a free downloadable Financial Life Skills Tip Sheet, as well as a Zela Wela Kids Wish List and free membership in the Zela Wela Kids Club.

Read this article at :
http://www.clearfacts.ca/budget/budget_planning/the_zela_wela_kids_nurturing_financial_life_skills
 
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