7 & 13 already going into business

Opinions please. My kids 7 & 13 both want to buy there own cabin rooms and be able to decorate anyway they want when we buy land and build our tiny house. They cost anywhere from $6000-$12000 they would own them not us. So hubby and I said sure. If you want to you have to pay for it yourself (this is a want not need we will of course have rooms for them)

so we’ve encouraged them to come up with a business idea my girl a strawberry biz and my boy a potato biz. We are giving them a business loan that they pay back from their profits. And bank the rest. They’ve also found things they want to sell on trademe towards this so I’m helping them. N so its clear they choosing this not made to.

So do you think its a good thing or bad? I know what I think but curious to others thoughts

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18 thoughts on “7 & 13 already going into business

  1. Good for you. My husband and I have been after our 16 year to get a job for months. He’s applied at a few places, but isn’t very motivated. Learning the value of hard work and money at a young age will only benefit your children. I teach financial literacy to high school students, and am always amazed at what they don’t know. I’ve been working since I was a kid, and I appreciate how it has helped me as an adult.Earning one’s own money certainly makes kids appreciate what mom and dad do every day.

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  2. Not the same, but when I was fifteen (not yet old enough to have a drver’s license) there was a car I really wanted, a neon green Maverick. I didn’t have enough saved up from my part-time waitress job and the bank said no, not without a co-signer. I gathered up my bravery and sat down with my parents and they agreed! They didn’t believe in giving us something for nothing, but if we could prove our determination and desire they would do what they could to help.
    I worked hard to pay that car off and when I turned sixteen and recieved my license I took care not to drive like an idiot!

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  3. The way you are “shepherding” your children through the process will teach them so many skills and lay a foundation for their thinking and success in the future. Your children are very industrious and your approach is helping them build the “muscle” they will need to succeed in the big world!
    Sandra

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  4. I guess the only question I would have is, are you ready for them to be owners? Ownership implies greater control of the space, and the ability to require others to leave. At the very least, this is a very different power-dynamic than that which is generally understood for parents and children.

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  5. Go for it! You will all learn so much from it. You may find out later that your children lose interest, but what have you got to lose. They will learn so much about life and money it’s a win win.

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  6. You are teaching your children so many things by allowing them to put their ideas in motion, for example, trust (yours in them), the feeling of independence, creativity, financial skills, business sense, what it feels like to have their ideas validated, and so much more. These are lessons that will guide them for a lifetime.Congratulations for being such innovative parents of some amazing kids. Much success. Blessings, Lydia

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  7. Pingback: The Wisdom of Children | seeking querencia

  8. On the surface, it looks like a great adventure. I am curious about all the “fine print” in your children’s minds describing or imagining what degree of independence they are seeking by owning their cabin rooms–how far does their idea of autonomy go? Exactly how much independence are they earning with their endeavors? Is the decorating exercise only a symbol of what lies beneath their motives? Maybe it would be helpful to clarify this with some thoughtful communication…<3

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  9. Quite an interesting piece. I was like that when I was younger, I always wanted to cook and own my restaurant and I was pretty adamant about it, but I remember with clarity is how much my mother supported me and how she would make my younger ones pay me in chores and candy for making them a nice meal. I think you should encourage them and supervise them, you never know…

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