Teachable Moments When Discussing About Homeownership
- Home Educating
- 04 May 2016
A month ago I read a story of a girl who managed to buy a home at the age of 14 years old. This girl, Willow Tufano, made Ellen DeGeneres very impressed. She called her for an interview and give her a gift voucher from Ace Hardware. Willow is a normal girl, her family is not rich, she bought the house from her work. This story also impressed me, so I was not wasting my time to motivated my son.
In short, Willow got money by selling anything that can be sold. Ranging from household, baby stuff, and others. Hey, this is very interesting! My son can do it! But, I was not sure he will be interested in owning his own house.
Nowadays, at the age of 12, he had been living apart from us in the house next to our house. Our house is company housing, not our own. I was worried, my son will not be interested in buying his own house because he felt that he already have it.
But I was wrong. When I asked him to watch a video of Ellen DeGeneres interviewed Willow, I explained to my son that the girl was 14 years old when buying a house. I said to him: "You can do that!" Then I ask: "Do you want to be like her?" Beyond my expectations, it turns out he was very excited. So, here's what I taught him:
I taught him about what goods he could be sell and generate much profit. In discussing this, I taught him to look at his ability as a seller and our ability to support him. In this way, he would be more realistic in choosing the items that he wants to sell. For example, with our financial ability, we will not able to buy a car to be resold.
My son also learns about ways to sell those goods, through the online shop, delivered by courier, and sales on each market channels.
I pointed out where he can buy goods at a very cheap price to resell at a reasonable price, and cheaper than competitors.
In addition, we also taught my son to prepare financial statements for this small business. Although this is a newly started business and a very small business, financial reports should be made.
I also told him that the house is a good investment because the price will continue to rise, and so does his money.
Through the business, my son learned a lot of things: which is mainly about trading, the making of financial statements, and that especially he will learn about the good traits: consistency, commitment, and patience.
Indeed many of the benefits that my homeschooling son will get through these activities. And if the money will not enough to buy a home at the age of 14 years old, but there are many things that have been gained in this learning processes.
Read other stories about teachable moments here:
How to Teach Your Kids at the Grocery Store - Living Life and Learning
5 Teachable Moments Found in Tough Times - Jenn Gerlach Simple At Home
Teachable Moments at the Dinner Table- A Sip of Southern Sunshine