Friday, December 16, 2005


Youth Enterpreneurship - Educating vs. Earning

Over the past couple of weeks several people have emailed me regarding the Biz4Kids Kit and how little it emphasizes MONEY. Yes, we do talk about money throughout the books and worksheets but we don't talk about what to do with the money once it has been earned.

It is important to remember that earning is just the begining of the process. With an incomplete understanding of how money is earned and how difficult it can be to earn then there is little reason to move forward. First, we teach how to earn money. Then you, as a parent or mentor, must apply your own values to how the earned money will be used - Spent, Donated, Given, Saved...

We'll come back to this subject more and more often I am sure. In the meantime consider our philosophy: money is a by-product of using the Biz4Kids Kits.

I was prompted to blog about this today after the recent emails and after reading a WSJ letter.

Robert Tarr (Villanova, PA) wrote a good letter to the Wall Street Journal today and I'll quote him: "It is not that 'money buys happiness' but rather that ' happiness buys money.' More precisely, the very virtues and habits that lead to happiness - goal-focused, rational discipline, creative thought, optimism - are the same ones that lead to success in any endeavor, including in the financial realm."

He then quotes Ayn Rand's famous 'money speech' from Atlas Shrugged: "Money is the product of virtue, but it will not give you is the creation of the best power within you."

Keep sending us emails about how you manage the money that your kids earn.

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