Wednesday, April 15, 2015

Lilys Business

March 23, 2015
Lily came home from church one afternoon and says mom, "I want to buy an iPhone, how would I get money?" I jokingly responded, "Sell stuff on the corner of the street." She took this to heart and using the money she had bought candy bars, sodas, and made bracelets to sell. She had to borrow a little money from us so we made it a learning experience. She has three months to pay us back interest free. She also gets one month free use of the table, chair, and cooler then will need to pay rent on three dollars each month. She also paid dad with a twix bar to advertise at his school-its definitely paid her back in business! 

After the first day (she made a good amount) she came in and at dinner discussed with us how long it would take to get her iPhone. After telling her the 650 dollar price tag plus the 25 dollar monthly cost for her share of the bill she was frustrated. We asked her why she wanted it and she said to play music and games and take pictures. We determined that an iPod touch might serve her needs better and only had a price tag of 200 dollars with no monthly extra. This is now her goal! 

 First customer

 Sisters enjoying there bought treats 

After a few weeks of doing this she has had to restock a few times and has made about 100 dollars. She has already paid us back and is well on her way to get her iPod touch. She is learning the value of money and hard work. She is also learning the idea of setting goals. Each time she goes out she opens to get at least 3 customers. She often surpasses this, but I love that she has an idea in her mind of how much she wants before coming inside. She loves going out there and I am proud of her for working so hard for what she wants. Love when these learning experiences just fall into your lap as a parent :) 

1 comment:

Retta Annie said...

And I am impressed with my daughter who would take the opportunity to teach her daughter about the value of working for what she wants. It takes a really good parent to see the opportunity, and I am so proud of you for the parent that you are. You do a great job with your kids!