How to teach kids about money

[Myth465]

LOL

[Viking]

A couple of years ago my neighbour's kid was selling boxes of chocolate covered almonds to raise money for his hockey team. The items were to be sold for $2.00 each. He sold them for $5.00 each, pocketing the difference (there was no selling price on the chocolates). Until his parents found out. They made him go around the neighbourhood and return the money to all families. Yes, my wife had bought a box for $5.00!

 

This kid has the entrepreneurial spirit and moral compass to be a standout on Wall Street... (And we still laugh our asses off over some of the creative things this kid has done over the years.)

[rkbabang]

A couple of years ago my neighbour's kid was selling boxes of chocolate covered almonds to raise money for his hockey team. The items were to be sold for $2.00 each. He sold them for $5.00 each, pocketing the difference (there was no selling price on the chocolates). Until his parents found out. They made him go around the neighbourhood and return the money to all families. Yes, my wife had bought a box for $5.00!

 

This kid has the entrepreneurial spirit and moral compass to be a standout on Wall Street... (And we still laugh our asses off over some of the creative things this kid has done over the years.)

 

I don't know if I should admit this, so I'll just say that "someone I know" when he was a kid would dress up in his baseball uniform and sell candy bars door to door for $1 that he bought at the store for 25cents, never mentioning that it went for anything, just saying "would you like to buy a candy bar? They're $1" people would make an assumption that it was for charity.  This person never corrected them.

 

[augustabound]

Why wasn't I that smart as a kid.  ;D

[Rabbitisrich]

A couple of years ago my neighbour's kid was selling boxes of chocolate covered almonds to raise money for his hockey team. The items were to be sold for $2.00 each. He sold them for $5.00 each, pocketing the difference (there was no selling price on the chocolates). Until his parents found out. They made him go around the neighbourhood and return the money to all families. Yes, my wife had bought a box for $5.00!

 

This kid has the entrepreneurial spirit and moral compass to be a standout on Wall Street... (And we still laugh our asses off over some of the creative things this kid has done over the years.)

 

I don't know if I should admit this, so I'll just say that "someone I know" when he was a kid would dress up in his baseball uniform and sell candy bars door to door for $1 that he bought at the store for 25cents, never mentioning that it went for anything, just saying "would you like to buy a candy bar? They're $1" people would make an assumption that it was for charity.  This person never corrected them.

 

I believe that is known as "the oldest profession". I used to see neighborhood kids preparing for their wealth management careers with this scheme when I was in college.