Saturday, August 18, 2007

How About a Little Fable Haven

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That's the name my daughter created for her new business venture. Yes, you heard right. My ten-year-old daughter has started a business.

Last month, I took my daughter to the bank (to set up a checking account and order checks) and then to Hastings Bookstore to launch her new business, which she is calling Fable Haven. If you have a Hastings in your community, I highly recommend helping your child start his or her business this way. The business provides an excellent opportunity to teach your children about managing money and financial transactions like tithing and saving.

Next on the agenda is to teach her about investing (once she accumulates enough money).

We do have a ways to go, though. Her first load of merchandise consisting of used books and a CD netted $3.97! The checks she ordered cost $5.00. The next load netted a bigger return and already she's up to over $100 in her account.

Here’s the plan. Addy will collect books from friends and family. Regularly, we’ll take the books to Hastings to sell. The books they refuse (we've learned they are a little on the picky side) we’ll donate to Friend’s of the Library at our local library. The proceeds from the business will be tithed, saved and used for Addy to buy her own collection of books, CDs, games and other nonessentials.

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