I really like it when my son takes some initiative and thinks big. I think it is healthy and a good for him to dream and aspire to be more and do more. But I really had to laugh last night at his thoughts on earning money around the house. I like to think that we had a brief teaching moment about economics.
I was commenting about how a friend of mine was paying her son to catch and kill flies around the house. She was paying him a penny for each one. The boy had already earned $1.10.
Chandler exclaimed, “A 110 flies and he only got paid a penny each? That’s not enough. They were worth more.”
“Well, what do you think they were worth?” I asked.
“A dollar each.”
“Ummm…remind me not to hire you to catch flies. I don’t think we could afford you at that rate.”
“Well, then how about a dime each?”
I laughed. At least he was negotiating. We briefly had a short discussion about how you need to know your market before you price things. If you price things too high, then no one will be able to afford to hire you. However, if you price things too low, then you are losing out on potential income. Negotiating somewhere in between would be good because then both parties are happy with the transaction.
I love that my son thinks big. I am also glad that we homeschool and I know how to take advantage of these priceless learning moments. Where else would you get a chance to have a short lesson on economics with a 13 year old boy?