Jul 18

Tip for teaching kids about personal finance and business

We recently offered a tip for teaching kids about personal finance. Another way to teach your children about personal finance is to encourage entrepreneurial ventures such as opening lemonade stands.

On its web site, Sunkist offers instructions for setting up a successful lemonade stand including categories such as recipes to pricing your product. See here.

Another web site devoted to teaching kids about business is called TeachingKidsBusiness.com. Not only does the site introduce kids to business but it also provides a host of links to other great sites devoted to the same cause.

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  • There's an organisation called Raising Entrepreneurs, which is all about teaching kids business ( raisingentrepreneurs.org ).

    And the Cash-Smart Kids website has a free eBook on how to get your kids started with a money-making web site. You can download it at cash-smart-kids.com/eb... .

    Dec 03
  • lemonadegame.com has a virtual lemonades stand that children can operate. It requires them to forecast demand (you get a weather forecast) and to make decisions about pricing, inventory, purchases, etc...

    I've actually used it in an introductory business class (college level).

    Jul 18