Archives for Uncategorized

Natural saver and natural spender: teaching generosity

In an earlier post I wrote about a person’s natural tendencies. This was based on Gretchen Rubin’s audiobook Better Than Before: Mastering the Habits of Our Everyday Lives. Another concept that Gretchen discusses is recognising whether a person as an over-spender or an under-spender.  These concepts are more relevant to adults because we have the money to spend, whereas young children ought to have rules about spending money.  Nevertheless, it got me thinking about whether each of my children is a
Continue Reading

Paying for electricity with hot chips

My youngest child often asks if we can buy some hot chips after his swimming lessons every week.  I don’t have a problem with buying hot chips as a treat.  But he asks for hot chips every week.  Then he will eat a few strands of chips before going off to play with a friend.  By the time he returns, the chips are no longer hot and they are starting to feel soggy. It is also close to dinner time,
Continue Reading

Worm factory lesson: bartering

In another post I talked about setting up a small business to teach children entreprenership.  In the next series of posts, I write about the lessons that are being taught to my children from a simple worm factory. This post is about bartering. At a fundamental level, transactions involving money is essentially an example of bartering (this is explained in detail in my book).  Most people understand bartering at an abstract level because in the modern society, we rarely barter with each
Continue Reading

Worm factory lesson: marketing

In another post I talked about setting up a small business to teach children entreprenership.  In the next series of posts, I write about the lessons that are being taught to my children from a simple worm factory. This post is about marketing. All businesses need customers.  Without customers a business will not survive, let alone thrive.  So it is important that we have a business that has customers. When we first started our worm factory, having customers didn’t even enter my
Continue Reading

Worm factory lesson: customer

Without customers, there is no business. Keeping it simple works best when teaching young children about money. In this post, I explain how our humble worm farm taught us the value of customers. So we wrote our sales letter and started to get some customers.  At first, we only sold worm wee concentrate.  We took the view that once the concentrate runs out and the customer needs more, he or she will get in touch with us again. But for the
Continue Reading