Young entrepreneurs
15 August 2008
Some things still cost though and children of this age are the new consumers - enjoying their freedom to make their own choices of what they wear and how they are entertained.
For some earning money by doing a paper round or a Saturday job may fit the bill, but others will need to think longer, harder and wider about the best ways to earn some money.
Most will have lots of stuff in their cupboards – old toys, toys and yet more toys – some may even be gathering dust in the attic - what are these worth to someone else?
While the odd Barbie doll in its original packaging could still earn a premium, most old toys generally don’t add up to much. But even here you can encourage your children to put unwanted assets to good use.
Why not suggest (under your supervision) a garage sale or perhaps an online ‘swap shop’ and turn unwanted toys into hard cash or things they really want?
At the last count, there were just under 100,000 ‘swap shop’ entries on Google. In short, without encouraging them to become mercenary you could point them towards becoming young entrepreneurs.
Many toys of yesteryear can be turned into pure profit. So could buying a Roboreptile, Bratz doll or the Baby Born with Magic Eyes turn out to be a shrewder investment than a children's saving account or unit trust? Unlikely but it certainly would help to start to give them an understanding of risk and reward.
