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The Lemonade Stand Millionaire: A Parents' Guide to Encouraging the Entrepreneurial Spirit in Your Kidsby Gail Haynes
Synopses & Reviews
When Gail Haynes became a single mother with two kids under six years of age, she vowed that her kids would never go through the financial hardships she was experiencing and immediately began teaching them how to make money work for them. By the time her daughters were seven and nine, they had started their own business. Seven years and several expansions later they are still managing their business completely debt free.
Based on the simple but vital financial principles Gail taught her own children, The Lemonade Stand Millionaire is a practical guide to help parents to start conversations about money and business with their kids of any age—even as early as two years old.
Rather than just telling kids what to do and how to do it, this highly interactive approach shows parents how to teach their kids to handle money challenges and disappointments, as well as wonderful successes. Of course, parents are also learning at the same time!
When children are ready to venture into self-employment, these fun and interactive exercises teach them what it takes to turn a recognized need into a bona fide business. Many multimillion dollar businesses started with a simple idea!
Not every child will want to start his or her own business, but every child needs to understand how money works and how to make it work for them. The Lemonade Stand Millionaire will set them up for financial success with skills and habits that will make the difference between a life of financial struggle and a balanced way of thinking about and handling money.
Todays society is plagued with debt. Our schools are not preparing us financially to enter the world of banks, bills, credit cards and mortgages. Families tend not to talk about the real issues of money and how to manage it in order to win the money game! The Lemonade Stand Millionaire is a simple, step-by-step process to teach kids how their money can work for them by simply understanding how to earn, grow, and manage money. Parents will also learn to teach their kids (and themselves!) how to start a small business and how to manage the money within it.
When my daughters were 2 and 4, I became a single mom. It was a devastating blow in my life. Although I know it happens to many, I didnt see it coming—it blindsided me both emotionally and financially. With a large property and house and a business of my own, my husband and I had bitten off more than we could chew. Together we were struggling financially, but separately we didnt have a prayer of keeping up.
Ignoring the bills works only up to a point, and one midwinter day, the electricity was cut off. Two days later, I was out of heating oil. Luckily, we had a woodstove that would keep the house warm (as long as I got up through the night to keep it burning). It was a horrifying episode in my life.
It was during this time that I made a solemn vow to myself: my kids would never be left as financially unprepared as I was. I would teach them about money—how to respect it, spend it, save it, and earn it. At that point, I hadnt a clue how to do this, or even whether I was the right person for the job. After all, having put myself in such an awkward financial position, who was I to teach my kids about managing money?
About the Author
Campbellville, Ontario, Canada
Table of Contents
Chapter 1 Welcome to the Lemonade Stand
Chapter 2 How to Use This Book
Chapter 3 The Mind-set of Financial Success
Chapter 4 Teaching Your Kids How to Handle Money
Chapter 5 Their First Job: Start at Home
Chapter 6 A Job versus Self-Employment
Chapter 7 Discovering the Right Business Idea
Chapter 8 Getting Started with a Small Business
Chapter 9 Growing Up
Chapter 10 My Beginnings as an Entrepreneur
Chapter 11 Amazing Kids Stories and Interviews
About the Author
Appendix A. Advantage of Early Investing
Appendix B. Money Tracking worksheets
Appendix C. Cash jars worksheets
Appendix D. What Goes Where
Appendix E. Household Chores Contract
Appendix F. Supplies Chart Resources
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