Using a stock market simulator can effectively teach basic investing concepts to your child without the risk of actual financial loss. However, before diving into virtual investing, don't forget to discuss with them the fundamental terms, vocabulary, and phrases.
In finance and business, quarters (Q) are often used to divide the financial year into four equal parts. The calendar months corresponding to each quarter are as follows:
Q1 (First Quarter):
Q2 (Second Quarter):
Q3 (Third Quarter):
Q4 (Fourth Quarter):
So, Q1 consists of January, February, and March; Q2 consists of April, May, and June; Q3 consists of July, August, and September; and Q4 consists of October, November, and December. This division is commonly used for financial reporting, budgeting, and other business-related activities.
Here's a step-by-step guide on how to use a stock market simulator for educational purposes at home:
Choose a Stock Market Simulator: Select a reputable stock market simulator.
Create an Account: Sign up for an account on the chosen simulator platform.
Understand the Interface: Familiarize yourself and look for features such as stock quotes, charts, portfolio tracking, and order placement.
Virtual Funds: Allocate an initial amount of money to invest in your virtual portfolio.
Research and Select Stocks: Start with popular companies you know through household use or where you frequently shop.
If you need help setting up your free stock training account, give us a call and we will walk you and your family through it. Toll-free 844-707-2889 or Local 202-967-8289