2nd Grade Finance Lesson: Part Deux

IMG_6452So the Craft Fair was a great success!

As we drove to the craft fair, I talked with my daughter about how we greet our customers (potential buyers).  We look the customer in the eye, smile, and perhaps open a conversation with a question:  “Are you looking for something particular today?”  “How can I help you?”  “Do you have any little girls in your life that would enjoy a rainbow loom bracelet?”  And so on.

After that quick discussion on handling your customer, we arrived at the craft fair.  Focused (and yet trying to hide her excitement and act “grown-up” as though she’s done this all her life), my daughter pulled out her gingham table cloth and began setting up her inventory.  I started to help her lay out her bracelets and stationery when I was sweetly told, “Mom, I can do this.  Let me do it.”  Happily, I retreated and allowed her the joy of “setting up shop!”  Nothing can replace that feeling of independence and confidence, the joy of investing in something all your own, except when YOU are doing the work and doing it well.  And naturally, this was the whole point!IMG_6451

Long story short, after 4 hours she had sold quite a bit of her inventory.  There was one hour left of the craft show, and many people were beginning to discount their items to clear out their inventory.  I suggested to my daughter that she take her last few things, walk around to other booths and try to sell or trade them out.  At first she was reluctant.  She shook her head no.  “Ok, that’s fine.  It’s just more money you could have in your pocket but it’s totally your own choice.”  (Ahhh the good ‘ole “take away”…a parental-strategy-must-have and a late “sales’ lesson for next year.)  I could see the wheels turning and without a word or an expression, she picked up her last few bracelets and strode around the room trying to sell!

A few minutes later, she had sold 3 more bracelets – at a discount – and added $6 more towards her bottom line.  A fine lesson to end the day!IMG_6457

All in all – she had made enough money to pay back her investor (her mom) the $75 she owed.  And happily she walked away with $47 in her little, pink purse.  Shoulders high, a confident gait, and her heavy purse on her arm (that $47 was all in 1’s) her lesson was complete!

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2nd Grade Finance Lesson

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Stationary for the Craft Fair

I should totally be in bed right now.  But I was eager to put pen to paper and share this great moment in homeschooling today…

So this weekend, my daughter (2nd grade) will be a vendor in her first craft show.  For 5 weeks she’s been making rainbow-loom bracelets, collecting eggs from our 30 chickens and crafting stationary from her art projects.  In an effort to teach her the relationship between income and expenses, I sat her down this morning with receipts in hand.  I wanted to show her what I had spent to get her ready for this show.

$24.00 – printing (stationary)
$27.00 – egg cartons (fancier egg cartons than your avg run of the mill)
$10 – craft fair booth fee
$12 – rainbow-loom rubber bands

Total expenses: $73.00

I then explained that these are monies she owes me to help reimburse my cost.  With that her eyes filled with tears.  “It’s not fair!  I don’t have the money, and I don’t know how I’m going to pay you.”

“Hold on, hold on,” I quickly said.  “Your expenses are just half the story.  Let’s now talk about your potential profit – the money you will get once you sell your inventory.

Stationary – $40
Eggs – $48
Rainbow Loom bracelets – $40

Total potential revenue: $128.00
Less Expenses: $73.00
Net Profit: $55.00 (+ a real living, breathing education in finance!!!)

Seeing the potential, her tears faded and a huge smile broke out on her face!  She now understood how it all worked.  She then said (and mind you we only have 2 days before the show) excitedly, “Oh – can I make more stationary or bracelets? ‘Cause if I work more, I could make more money!”  Smiling, I said slowly, “You got it!”

So on Saturday comes the fun part – the selling!  And of course more education to come…marketing her items for sale with signage and pricing, welcoming her customers with a smile and answering any questions they have, and making change for the customer, just to name a few.  I’m excited to watch education LIVE Saturday morning as she puts together all she’s learned.  And in the process – hopefully make a profit!  But then again – in the game of life – that doesn’t always happen either and there are grand lessons to learn down that road, too!  Stay tuned…

The 5 Best Reasons to Travel with Kids

Road tripping with young children is no small feat.  In addition to your clothes and other needed items, there’s the stroller, the pillows, the toys and books (we all want happy riders), the movies and music, the cooler full of snacks and drinks, charge cords for all our mobile devices, oh and of course, the kids!

This last summer, when we set out on our exciting east coast road trip (Liberty Bell in PA, Washington Crossing the Delaware in NJ, Natural History Museum in NYC, etc), I had my itinerary all planned out.  Each day was accounted for with either driving or sight seeing, and we were all excited!  I was sure I had thought of everything.

However, as we journeyed, I was happy to learn I had not thought of it all!  I knew our trip would be educational, but I had no idea how many academic “fringe benefits” there’d be!

A fantastic travel game for kids 5 and up!

REASON #1
The 50 States:  For starters, I had ordered the “Wee Sing America” CD (Pamela Conn Beall) from our library.  In my americanly romantic mind, I thought it would be fun to listen to these patriotic songs as we traversed through the historical, revolutionary roads.  Additionally, as a fun gift for the kids, I purchased Melissa and Doug’s License Plate Game.  The wonderfully thought out game added so much to our hours spent on the road.  For each car or truck we passed during our 3000 mile trip, I had both my 7 and 5 year old reading the plates and exclaiming which state they had just seen.  And as it turned out (which was totally unplanned) there was a “states song” on the CD which my son and daughter fell in love with. Because we were talking so much about the states with the license plate game, they naturally wanted to put these state names to song.  So within a week, they had learned ALL the 50 states, in alphabetical order, with great joy!  That was not part of my educational syllabus – but hey – I’ll take it!

REASON #2
Elevator Etiquette:  I don’t know about you, but I find “social etiquette” and children don’t naturally go together.  There’s time and training that is needed to achieve a happy balance.  So with each hotel we stayed at there were elevators which allowed us to practice the importance of elevator etiquette numerous times a day.  In a short time, my children learned that when waiting for an elevator you stand back and wait to the riders to exit – rather than push on like elephants.  Likewise, once you get on board, they had to take “happy” turns pushing the buttons or that privilege was taken away.  Great motivation to do the right thing the first time!

REASON #3

Hotel Room Numbers:  What a great math lesson this was!  Once we arrived on the floor where our room was each night, we began letting our kids take the key card and do the figuring out of where we’d be spending the night.  We’d walk off the elevator and see the list of room numbers: 401-429 to the right and 430-450 to the left.  We talked about odd and even numbers as well as greater than and less than.  From the number on our key card, the kids figured out which direction our room was (odd or even = left or right) and then had to decide if we need to walk a far ways to our room or if it would be close to the elevator.  It was real life math!!

REASON #4
Organization: To make our mornings smooth, it was each child’s job to know the next day’s activity and to pull out the clothes they needed for that activity; whether it be a long car ride, a day at the Liberty Bell, a day in NYC or just a down day.  They began to use their anticipation skills and pre-plan for their own needs in the future.  Really – exercising that independence skill I strive to teach them daily.

Additionally, this meant they needed to sort through and organize their car pack for whatever items they wanted close to them during the car ride.  They needed to grab their books, music, toys, etc that they thought they’d use the next day.  Again, thinking ahead and becoming self-sufficient.

REASON #5:
NO Instant Gratification:  Good or bad, instant Gratification doesn’t exist on road trips.  Instead, car rides help children understand that not everything happens within a couple hours – like a plane ride.  They learn how much distance exists between states and destinations.  And with that stretch of highway comes time.  A blessed thing!  That opportunity of time allows kids to again exercise their muscle of patience and self-sufficientcy.  They learn to entertain themselves.  I loved the natural rhythm that evolved as we drove each day.  The early excitement in the morning as we began our day, the slow settling into the drive and sinking into a good book, sticker project, coloring activity, or new toy, and then the shift into playing with one another.  They learned to entertain themselves or each other with the simpliest of things.

At the end of out trip – we drove from NJ to STL in one day – 17 beautiful hours!  But after about 11 hours of driving, our 10 month old was tired and bored of his toys.  “Enter knee highs!”  I had some knee highs in a bag which my kids found.  They got the idea to tie them together and then across the inside of the car (from hand rail to hand rail).  They then strung toys on it so the baby could reach out and play with the toys.  And happily it worked.  Hey – it all comes down to the marketing, right?  How ideas are presented.  Change up the angle or the way the toys are played with and it’s a new toy.  But that little discovery would not have come about if we were on the plane.

Our east coast trip was one of our most favorite trips to date.  We had so many happy, fun, inspiring, sweet family times that I’d do it again in a heartbeat if given the chance.  In fact, we’re planning a “Westward-Ho” summer road trip for 2014!  Stay-tuned!  I bet there are more “fringe-benefits” when traveling with kids to be discovered!  Have you traveled with kid-lets and what benefits have you found?