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Kids and Money: My Daughter is Finally Making Money Update 4

Here is a little recap to get you up to speed. My adorable smart and very disorganized 9-year-old found out that we can’t afford to send her to a special camp this summer. With five months ahead of us she doesn’t have much time. We started with $500 so far and brought it down to $430, but at that point, we got stuck and stayed on that number for weeks.

How ridiculous is it that a week can make a huge difference in the situation. Seven days ago I thought that this whole idea is pointless because nothing we did worked. While the initial goal was to collect $20 a week, we had no progress for three weeks!

How can I encourage a 9-year old to continue doing what she was doing, taking her valuable time away from playing ROBLOX on the tablet, is the week after week we had no visible progress. That is not what our modern kids are used to!

However, since I couldn’t possibly tell my daughter to forget about this whole idea? I just kept insisting on her to continue creating new listings on Craigslist and keep updating them.

And guess what just as I was finishing writing my post last week, we had an inquiry and shortly after – SALE! $10 for an easel we forgot we had and discovered while looking for the things to sell! Next, someone wanted to buy a baby play yard – CHA-CHING! Two booster seats – GONE!

I have to say my daughter doesn’t get to keep all money – we decide on percentages ahead of time ( most of the time it is half and the half since we did pay the money for it in the first place and we are answering emails and making the actual transaction).

I have to tell ya these two purchases created a paradigm shift for her – they made her feel that she CAN make this happen! How do I know this? Because she woke me up on Sunday and asked if she could put her own $5 into the camp box as well.

I swear she is now starting to understand how to tackle the big number!

HERE IS THE PROGRESS: between the Craigslist sales and her help with my social media, she made $60!!!!!!!!! How awesome is that?

Our new balance is now $370

Deadline: JULY

AND WE FEEL: OPTIMISTIC

And by the way, if you want to raise a money-smart kid, check out our Kids and Money Series to learn what you wish you knew when you were a child.

Comments

  1. Wow, good for her. I should do this for my kids when they ask for something expensive instead of just asking their grandparents for the money lol.

  2. It is great when kids get a taste of money management and earn money for things they want. It is satisfying and they really learn great money management skills.

  3. I think it is essential to raise hard working kids who know how to earn things they want. Good for her for making $60!

  4. This sounds like such a great way for her to earn money! I need to do something like this with my kids.

  6. Trying to get kids away from video games proves to be quite the challenge. This is a great idea to keep her busy and profitable too.

  7. I bet she will be there before you know it! This is a great incentive for her to save money and I can’t wait to see her reach her goal!

  10. This is such a great way for your Daughter to learn about saving for what she wants. I am sure you will reach your goal and she will enjoy camp more because she had to work for it.

  11. That’s great! It’s so important for kids to learn money skills at a young age and this is definitely going to help her later in life. Good luck with raising the rest of the money!

  13. Sounds like an amazing life lesson. She’ll really appreciate the memories she makes at camp, knowing the effort she put in to get there.

  14. It’s great that she is learning how to make extra money. Learning this early in life is setting her up to be successful as she gets older.

  15. I think it’s so great that you are able to teach your daughter about handling money responsibly. Too often kids just have no clue what the real meaning of saving money means.

  16. Well that is very exciting. She’ll probably enjoy the camp more for having worked so hard for it too. I hope the sales continue to roll in for both her and you.

  18. Teaching our kids young about money is so important! Plus, having her help earn towards a goal is even better. She’ll appreciate the goal so much more when she’s helped attain it!

  19. I think it is so important to raise hard working kids who know how to earn things they want. I’m guilty of not doing it with my son all the time!