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44

As others have said, the primary thing is that you make this a fun activity that the two of you do together, not a chore. That means that you will wind up doing the bulk of the actual work; do not expect her to sort half the bricks, handle a camera competently, or anything else. As a rule of thumb children under 10 have an attention span in minutes roughly ...


22

I don't think this would be essentially different from a backyard lemonade stand. Make sure it's something she does for fun, and not something she feels forced to continue with. That's the biggest downside I can think of, but it should be avoidable.


10

I like the general idea of the approach, but not some of the specifics. For example, for every tantrum she throws minus 20c Please don't charge your child for showing emotion, even if she does it to manipulate. The stakes are just too high (potential for it to be a traumatizing lesson), and while you may be good at telling insincere tantrums from sincere ...


7

What we did was a combination of 1 and 2, at that age. 3 is harder, I think, and I don't really agree with penalizing monetarily for behavior at 4 years old; it's too much out of her control still at that point. But certainly up to you. My kids have an allowance that is based on the formula [amount of money] * [years old] per week. Amount of money is ...


6

My first reaction, child labor rules and protections. You may intent and plan to run this as fun and a teaching experience. But it comes close to child labor and if checked you may run into problem if not carefully set up. And make sure your child will never have a valid complaint you made her work for you while she was too small to have a paid job out of ...


6

Can I buy second-hand toys, make them better with my 6.5 years old daughter and sell them for a higher price? Yes you can. But don't expect your daughter to be a true business partner. Make sure they are participating because it is fun to do and don't let it become a chore (preferably for the both of you).


3

We had our son in childcare from a very early age, and I would say the effects were entirely positive. He learned to socialise with other children, to play cooperatively, and how to handle not being the most important person in the room. I remember that I did not go to "nursery school" as pre-school child care is known here, but my sister did. When ...


3

Option 1: link chores to money. The point of chores is that the child learns to spend a certain amount of time on regular maintenance, and they also learn the basic skills required to e.g. wash up, clean the house, keep tidy, whatever. They will need this when they grow up and move away. They are not doing them simply to make your life easier (though that is ...


3

At 4 years old the big thing you want to teach is simply what money is for and how to use it. Let her experience: Having money, including knowing how much. The idea that money comes in coins and notes of different denominations is likely to be news to her. If she has seen you hand over a single bank note and get a load of change she probably thinks you were ...


3

You need to check your jurisdiction's law to see if a minor can be admitted as partner in a partnership firm. From first principles I would think very unlikely. Partners in a partnership firm are legally bound to contracts signed by each other on behalf of the partnership. Since minors are not considered to have the capacity to enter into contracts, it is ...


2

"Does she really need to be a businesswoman instead of just having fun with her FDBGs?" This could be something she looks back on to inspire her to be a proper business woman in the future, so doing both I think could be a fun idea. I don't think she needs to be a business woman, but you can try and treat it like an extra level to the game, save ...


2

Depends what your parenting goals are. In our case, our goal was to "help our children become happy and responsible adults". That includes learning how to deal with money. A good method is to gradually increase the amount of money and also the amount of scope of what the can and have to buy with it. That should include some necessities and not just ...


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