Secret Millionaires Club for kids

To commemorate Financial Literacy month, Yahoo! Finance is proud to bring you a Q&A about financial education for kids with famed investor Warren Buffett.

 

One of the world’s richest men, Buffett is also the voice of a new animated series entitled “Secret Millionaires Club,” which offers kids tips on investing and basic business concepts.

 

Warren Buffett discusses why he decided to take to the small screen — in cartoon form — to bring financial education to kids in his animated show “The Secret Millionaires Club.”

The right age to teach kids about money: “It’s never too early. Whether it’s teaching kids the value of a dollar, the difference between needs and wants, or the value of saving. These are all concepts that kids encounter at a very early age, so best to help them to understand it.”

The importance of early influence: “So many adults get into financial trouble, in business and in their personal lives, because of bad decisions. We hope to influence kids at an early age so they learn to think about their actions, and the consequences of making bad decisions. It doesn’t just influence success in business, it influences your family life as well.”

The importance of parent viewers: “We created Secret Millionaire Club for kids, knowing it would also help parents. And it has. It provides stories that kids can relate to which help them understand different situations in business and in life, and hopefully help them develop the skills to make good decisions their whole life.”

Next I have made a quick list of goals you need to follow to be member of the Kids Millionaires Club:

1) “The best investment you can make, is an investment in yourself.”

2) “The more you learn, the more you’ll earn.”

3) “Learn from your mistakes, and the mistakes of others.”

4) "Learn as much as you can, around you and all the time, so you can develop the skills to make good decisions your whole life.

5) “Great partnerships make any job easier.”

6) “Fail to plan, plan to fail.”

7) “With business as in life, get to know people before you judge them.”

8) “It’s not just the outside that counts, it’s the whole package."

9) "Learning not to spend more than you have."

10) "Like a spare tire, always save for the unexpected moments in life."

11) "Don't borrow money unless you have a very good plan to pay it back fast. And, just for sure, have a 'B' plan too."

Cheers!