No Regrets Parenting: Turning Long Days and Short Years into Cherished Moments with Your Kids by Rotbart M.D. Harley A

Author:Rotbart M.D., Harley A. [Rotbart M.D., Harley A.]
Language: eng
Format: epub
ISBN: 9781449410933
Publisher: Andrews McMeel Publishing LLC
Published: 2012-02-20T22:00:00+00:00

Making Lemonade—Their Office

Kids should start several businesses during their childhood, and teaching them how is a marvelous way for you and your kids to spend time together. It’s also a great way to teach them about money, budgets, marketing, public relations, and working with others.

Start with the lemonade stand. My own childhood lemonade business taught me how to address adults as “ma’am” and “sir.” It also resulted in my adulthood vow to never drive past a lemonade stand without stopping to buy. I always pay with a dollar bill to see if the kids can make change—and then I give them the change as a tip. Before setting your kids up at the lemonade stand, practice making change with them. Explain overhead and profit. Set a goal for the money your kids will make: teach them about savings, shop ahead for the special purchase they can make when they’ve earned enough, or identify the charity to which your kids can contribute the earnings. Best idea—do all three. Teach your kids that there are many demands on income and that skillful budgeting can help meet all of those demands—for saving, for buying, and for giving.

Lemonade stands should grow into more sophisticated businesses as your kids grow: lawn mowing, snow shoveling, gardening, babysitting, running a summer “camp” in your backyard for younger kids in the neighborhood. The best part of all of these entrepreneurial ventures that you help your kids undertake is that you are helping your kids undertake them. You are strategizing with them, giving them on-the-job training, sharing their experiences, teaching them life lessons, and watching them grow into junior citizens. And then you get to go to the bank with them, shop with them, and learn with them about the charities they are supporting.

And it all starts with just lemons, water, and a little sugar.

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