Financial literacy courses seek to show children that money is only a tool, and to teach them how to make responsible money decisions for themselves.

Essentially, such courses aim to teach children from a young age how to effectively earn, save, invest and spend.

MoneyTree Singapore, a financial education centre specialising in teaching children and youth, conducts several modules on various topics.

Children will learn about what interest and compound interest are, and the impact of interest on borrowings. They will be exposed to the idea of rate of return and opportunity cost, in order to help them understand how to retain and grow wealth.

They will even be taught the basics of investing in stocks and shares. Children can look to learn about the stock market, how to invest and even factors that affect the stock market.

They will also be taught how to balance time and money as well as what to consider when selecting a career path.

The company conducts boot camps during school holidays, offering different modules depending on the needs of the group. Its holiday boot camp costs $288.

Another financial literacy educator, Playmoolah, runs education programmes targeted specifically at young people and children. Its boot camp costs around $280.