Kiddo-preneur bazaar: Teaching kids about money

 

kiddo-preneursSitting in front of his booth, my five-year-old waved the die-cast car he was holding to everyone who passed by.

“Please buy, please buy. P50 only,” he offered.

The 5-year old is my son and the proprietor of “Sari-Sari Toys.” He joined a group of kids this weekend at the Kiddo-preneur Bazaar at the Alphaland Southgate Mall in Makati City.

He does not know how to count money yet, and can’t tell the difference between P10 and P100. But he knows where money comes from – Mom and Dad’s hard work.

I agree with parenting and financial experts who recommend that when it comes to teaching kids about money, the sooner, the better.

Maiki Oreta, Kiddo-preneur’s founder, shared that this is precisely the objective of the event. “We want to teach kids to earn, save, invest and donate,” she said.

Kiddo-preneur was an exercise in entrepreneurship. Kids who participated were encouraged to get creative as awards were given out to those who had the most original concept, the most attractive booth, the best ad, the best service and, of course, the highest sales.

It was amazing to watch kids as young as my son go around the venue, offering a sample of their wares and delivering their sales pitch convincingly that you’d think they’re pros.

Most of the products were made by the kids. They baked cupcakes, made yogurt and Jell-o, and sold their own artwork.

Oreta’s daughter, Brielle, manned the entrance booth and sold one of the hottest items that day – caterpillars in jars!

The kids were also encouraged to save and invest their earnings. The weekend before the bazaar, a group of 35 young entrepreneurs visited the trading floor of the Philippine Stock Exchange. Some of the kiddo-preneurs also supported various charities.

The bazaar was a good venue for teaching children the value of hard work and even how to handle disappointment. While some kids racked up huge sales, the others didn’t do so well and barely broke even.

As for my son, he learned about spending limits and making choices. As we were packing up, I told him he had P200 he could spend as his reward for a day’s work.

He picked out two toys and told me to set aside two more which, he said, he would buy once he makes money again.