We are having a yard sale this weekend and the boys (13 &9) are selling waters and such to earn some scout money. They are both in scouts. Youngest is in Cubs, he's a Webelos, and oldest is in Boy Scouts, he just earned his Tenderfoot rank. Well, scouts isn't cheap. They earn money each week for scouts as part of their allowance for chores and such. We had them decide what they wanted to sell. And work out a budget and how much to sell each item for. They had to take thier scout money to the store and purchase thier items. It was hard for them cause they didn't have much to work with. My youngest only had $12. He had to make some hard decisions. He was almost in tears over it. But it was a hard lesson they both needed to learn. Hubby and I spent a while in the store just talking him through it all. And it wasn't easy. But we finally came up with something we could all agree upon and the boys were happy with what they purchased.
My youngest wll be selling pepsi, water, pickles and pickle sickles. My oldest will sell water, Sierra Mist, hugs juices & ice pops. Neither one is over charging for any of the items. If they can sell half of thier items they will break even.
But this will be a big lesson for them. They had to spend their own money on this and if it sells they will earn some more scout money, if not they will have to dal with that as well.
We also discussed how hard it is get what you want or sometimes need when you don't really have the money for it. So when mommy says no, which happens more than I'd like, if they want something theres a reason. We have a budget we have to follow so we can have what we need.
I think this experience will make an impact on them. Even a little one.
Friday, June 24, 2011
Money lesson
Posted by Tori at 8:15 PM
Labels: money lesson
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