01/31/2025
For as long as I can remember, I’ve always tried my best to teach our little ones the value of money. I am well aware that they are still quite young to understand, but I’ve noticed that there are a few teaching moments that we can highlight the importance of saving, the difference between wants and needs, and WHY choosing wisely where to spend our money on matters.
So when Josiah King showed me his recent homework “If I had one hundred dollars” … needless to say I was absolutely impressed. For a seven-year-old to have this perspective about making money, is definitely beyond me. I had no expectations whatsoever, but for him to grasp this much means a lot as my main goal is to guide them to financial literacy.
The back story here is that we recently purchased an “infinity cube” from the dollar store. From there he noted that the fidget toy is fun and also quite inexpensive compared to other toys in the market. This means if he sells it to other kids with a markup of double if not triple the original price, it will still sell and he will make a profit on top of getting back the money he would have spent. Then he would do it all over again so he could save and continue to earn.
Then I asked what he would do with his earnings, he said he will use some of it to fund his games so he can practice for his dreams. That way, mommy and daddy won’t have to spend as much given that the games are not a priority and they are expensive. The remaining amount will be for snacks and funding their next craft. If you were in my shoes, what would you do? The only logical thing I could think of was to let him explore his ideas … so here we are now. 🫣😅🥰
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