Have you encouraged your kids to earn a dollar, to buy what they want.

[bumdags]

I have 4 kids 10,8,6 and 4. The eldest is a lazy little sod and wants every thing given to her and would rather go without than work for it. The other 3 understand that you have to work for stuff you want. They have there standard chores(no pocket money) then there is the extra jobs that come with a payday involved. I also believe kids that get given everything have no respect for it and for people for that matter.

 

[Greenhornet_au]

Hey Bumbags, I feel for you,
Kato was a bit lazy around 11&12 but I think it may have been her "development" hormones, and peer group crap in school
our Miss 10 seems to be the same now (developing), but keep patient and firm, find her passion and maybe use that to turn her around a bit at a time.
Our Miss 10 has shown a great interest in cooking and baking so we are going with that and encouraging her to do it with
her Grandmother and Mum. Then go for the "bakery stand" sales.

We all have different scenario's, but my kids dont get money at all unless it is earned or donated as a gift from the Grandparents or family.
A monthly token into their account of $5.

Kato has a Debit Card that has a maintained $50 for movies or going out, and limited cash, but she is frugal too.
We monitor that via internet banking.

As a kid always got just what I needed, my wife too, my kids are the same - they share their things well to stretch possessions
and experiences. My wife and I also share our own possessions with them for use and teach them to use them properly, but they know the items are ours.
They break or lose something of another persons, there are consequences.

LOL, also Miss 9yrs knows she has to pay me back for the setup of her Hot Dog stand and food, over time as profits permit,
She is cool with that, I let her sweep her transaction account herself this morning, explaining why again, and advised her that she will have to
use the funds from the next Hot Dog sales for her I-Pad even though currently there is more than $1000.00 in her account.
She is focused enough on the prize and trusts me enough to keep her straight.

I must say we have been lucky with all this and our kids so far, and I am preparing for a disaster but not afraid of it.

Have faith Bumbags, it is an awkward time going into the teens.

LOL, Kato is having boyfriend troubles atm, :8 those first love heart strings being pulled, but she is strong and will get through it - I might not :awful:

 

[Greenhornet_au]

Oops sorry about kato misunderstanding mate :argh: not sure about the health dept. ref: oh well must of been a post I missed.
Totally agree BUILD OUR KIDS. Just for the record ours had a variation of silver spoons with just as much variation served to them :lol: :lol:
and challengers are just that no matter what we don't want for them but wish you all the forwardness in the world

"not sure about the health dept. ref: oh well must of been a post I missed"

In your first post I thought you were saying it didnt need to be so complicated to sell a few Hot Dogs
Things got complicated when you have to comply with all health/food safety laws and local govt laws too.

Kids cant even sell lemonade on the footpath, even coke machines need a certification ! :8

Try explaining that to your 9 yr old as to how that works !

Trust me, a sausage and bread sold by your kids can lose you your home if just 1 person gets sick and sues you,
the Govt comes down on you, you need proof of where and when that sausage was made, purchased and sold.
A nightmare ready to happen if you dont protect yourself, more importantly your kids.

Fortunately with tech of a mobile phone you can do it all and be safe and covered, just paperwork and a few $
AND some energy to follow things up.

 

[aussiefarmer]

From the time a kid can walk they should be taking bottles and cans to the return and earn center's, the supermarkets around here have them and soon as jnr has a couple of boxes we make him feed them in the machine and redeem the ticket in the supermarket and he buys a chocalate or strawberry milk, which to a 5 year old instantly links the reward to the work , plus when he has drunk it he saves the bottle to start the 10 cent collection again.

He often recommends i have a extra beer or two so he gets more cash.

I know of kids with parents in supervision that have cleaned up 3 or 5 klm of roadsides and went and bought new phones , it is easy money really.

 

[Greenhornet_au]

Absolutely get them when they are young into the mind set and work ethic to find a way to earn and spend what you have in your hand
left after at least 15% into savings.

Mum didnt know how to teach me that, but I can teach my kids.

 

[grubstake]

Another dad felt his kids would benefit from learning some business skills first-hand -

Young candle entrepreneur buys brother out of candle-making business in north Queensland:
https://www.abc.net.au/news/2019-11...le-entrepreneur-buys-out-her-brother/11681906

 

[Manpa]

Nice story. :Y:

 

[Greenhornet_au]

Another dad felt his kids would benefit from learning some business skills first-hand -

Young candle entrepreneur buys brother out of candle-making business in north Queensland:
https://www.abc.net.au/news/2019-11...le-entrepreneur-buys-out-her-brother/11681906

I really enjoyed that read, she had to "buy out the partnership", that is an education in itself.....

Great job by her parents in getting the kids to work together, and develop a product line, with repeat customers. :Y: :clap: :trophy:
.
.

Funnily Miss 3yrs and I have been making candles while the others are at school, for something to do :inlove:
not to the selling stage yet but the article twigged a thought for her layful:

An interesting article for sure.

Today Miss 9yrs was in conference with the "Bank" of Mum and Dad as we reviewed her bank accounts online and checked the
business spreadsheets listing costs and turnover earned.

After she had paid back the food consumables, rent, insurance and a portion of her capital assets....
Miss 9yrs was collecting nearly $66 / hr as reflected by her Net Earnings. :8

She was disappointed that she could not empty her bank account and purchase an I-Pad, but as explained she has to earn it
fair and square, and is now about 1/3 of the way to her dream, profits are $230 for 3.5hrs of work.

The next venue will be even cheaper for her as there is no development time, paperwork is minimal and we have a much better idea of
stocking levels to carry.

She is looking forward to it.