Posted by: katlea611 | January 12, 2013

Gimme The Money

Because I wanted my boys to learn how to be money smart at a young age, I thought that letting Nikki sell his old/unused toys to his classmates would be good practice for him. My parents, though they had very good intentions, never gave me an allowance until I was in college so I did not know how to manage or handle money.  I knew how to save, but didn’t know what to do with it, what I could do with it and how to make it grow.  I don’t want to make that mistake with my boys.  I want them to know how to make money grow while they are still young.  After all, if my intention in homeschooling them is to teach them about life, then why not teach them about money too, right?  

So anyway, I gathered some of their old toys, priced them and gave Nikki a small notebook to keep track of his sales.  He was very attached to his toys and didn’t want to get rid of them unless they were broken or damaged.  I told him it wouldn’t be nice to sell those kind of toys and if he won’t get rid of his old toys, he wasn’t getting ny new ones.  So he agreed.  In a way, selling their old toys is good for Nikki because he’s learning to be less attached to material things and to let them go when he should.  It helps him grow and mature and I like that.

So the other day, after some months of selling his stuff, we decided to count his earnings and he earned P1085!  And this from toys that were sold from as high as P20 to as low as P1!  Isn’t that amazing? Even Nikki was pleasantly surprised.  So now, he’s even more excited to sell his stuff.  I even made some bead bracelets for him to sell to his girl classmates.  

I’m quite happy that Nikki is slowly learning some money smarts.  Hopefully, he’ll be more confident about his money skills in the future. 

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