Sunday, May 7, 2006
Lessons learned about money issues this past week while shopping and having a neighborhood garage sale, including a kid's "lemonade stand" :
1. My junk is junk. No one wants to buy it. Used clothing, even if it is like new, is snubbed. Total take: $5 and change.
2. Marvin's (age 12) junk is not junk. Used toys sell well at garage sales. Even the ones the dog has gnawed on. His total take: $12 and change.
3. Emily (age 8) is Frugal. When I took her grocery shopping she left her money in the car at the regular store, planning instead on making her purchase(s) at the discount store we were visiting second. She also helped her younger, nonfrugal sister find a "buy one get one free deal" on chips.
4. Emily should also probably go into sales. She convinced her sister into buying her a necklace, a bracelet and a cat sculpture at the neighbor's garage sale. She also sold more ice cream and soda than any of her siblings on a cold spring morning. (Probably had to do with that dramatically sad face she made while sitting on the fence, all dejected and penniless like.)
5. Money related math: Calculating cost per item, calculating retail value of items, calculating gross and net sales, dividing profits, calculating tithing and savings on said profits.
6. If you let Maddy (age 6), buy as many things as her money can buy- she will. And then weep that she has no more money when she finds yet another thing she must have. Her purchases in the last few days: 2 large bags of potato chips, two necklaces, a bracelet, cat sculpture, a travel mug, large bag of cheese puffs, a tie, a robot dog, a talking stuffed puppy, a stroller toy, ice cream, a used camera, a stuffed whale with a baby, and a set of soda can insulators. Final money: 15 cents.
7. Maddy is, however, a very generous person, as she gave half of the things she purchased to other members of her family.
8. If your goal is to declutter, head out of town during the neighborhood garage sale. (see #6)
9. But,if your goal is to teach your children about money, stick around. (see # 5 and #6) Just next year, donate the old clothes and take the tax deduction.
I did ask Maddy yesterday if she had a dollar what she would do with it. She said she'd save it and wait till she had more money to buy something so she wouldn't be "broke". Lesson learned?
Stay tuned - tomorrow I will be posting a picture of my husband wearing a sheet in public.