The Real Estate Investing Journey

In part I we talked about playing games as a valuable tool in teaching kids about money. We've just had our first experience with Girl Scout Cookie sales and I'm very impressed with the number of lessons that have come from the experience.

• Goal setting/sticking with it - This our first year, we weren't aware of the amount of work it would take to reach X number of boxes. So our daughter set her goal based on the prize she wanted. One of two things can happen, the realization that it isn't worth it and stopping short can teach a valuable lesson on counting the cost before entering in. Or, after digging in and seeing how much work it is, tenacity can kick in and keep her going which is an obvious good lesson.



• Public speaking - Speaking with/answering questions with people you don't know and aren't familiar with. Much of a child's life is spent with those they are familiar with and can talk up a storm... but it isn't so easy with those they don't know.



• Exchange of money for a product - why are people giving us green paper or other colored pieces of paper (checks) for these cookies? Ah, those green pieces of paper have different numbers on them and when they give us higher numbers on those papers, we give them more cookies (value). Sometimes we give them cookies and more pieces of paper with smaller numbers on them back (change).



• Counting money/making change/accounting - They owe us $10.50 but they gave me a $20, what do I do? Oh, that's why math is useful! Wow, at the end we have lots of these green papers and checks, we have to add them all up? They have to match what's on the sheet? If it doesn't match, we have to go back through it - ah there's the problem. Admittedly, for us this lesson will probably come in later years... the accounting piece is a little big for a girl just starting out. But at least they have some exposure to why their parents work so hard with numbers at tax time.



• Finding/planning good areas to sell and how to identify/avoid the not so good areas - In picking which streets to work, the customers will give you clues. In the case of these cookies, those clues were obvious. If we heard at the first house or two: 'someone has already come by, but we'll buy a box from you'... not a good street, change. If we heard: 'man, we've been waiting for someone to sell us cookies'... ding ding, you have a winner.

I think getting involved in GS cookie sales is very valuable and an experience for that age group you can't get many other places. These cookies sell themselves and in going door to door we have rarely been rejected (maybe one in ten times)... I am of the feeling that when you first start any venture, you should set yourself up for some successes so discouragement won't overwhelm you. Yes our kids will need to learn about rejection, but not too much too young...

Image courtesy Quail Ridge Country Club Realty.