Barnorama All Fun In The Barn
If you want to teach your kids how to invest their money, helping them start their own business is a great way to do it.
Step 1: Making the plan
As parents we are goofy, silly, and spontaneous, but we try to emphasis the importance of making a plan. We planned out our day and then my daughter helped draw pictures of each step.
Step 2: Taking out a loan
This step was key. I wanted my daughter to see the money coming out of our bank account. She told the cashier how much money we needed (in $1 bills), then we counted the money out together. We talked about how we were borrowing the money and we would need to give it back.
Step 3: Buying supplies
As we collected our supplies, we would stop periodically to count our money (just the $1 bills). I wanted her to see the money we borrowed was slowly dwindling.
Step 4: All the hard work
We squeezed a whole lot of lemons and limes. Add some sugar, water, and a sprig of rosemary (let it sit overnight) and we were set to go.
Step 5: Selling in the shade
The next day we set up our stand and put the cuteness factor to the test. Due to state regulations, we needed to do a suggested tip instead of an actual cost. Thankfully no one took advantage of that and kept to our suggested tip.
Step 6: Paying back our loan
After we were done for the day, we went straight to the bank to repay our loan. It worked out perfectly. My daughter was a little sad, so we were able to talk about how we borrowed the money and now we were returning it. In the end she understood, but the reality hurt a little.
