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Garage Sale!
Get the Kids Involved By Beth Hering
If spring cleaning has left you determined to have a garage sale this summer, consider making it a family affair. Not only can children be great helpers, they can learn many things in the process.
Money squabbles, however, can arise if issues are not sorted out beforehand. Your preteen may see the money from selling her old clothes as being her profit, even if you bought them for her. Likewise, siblings may argue over which person actually "owns" something. A family meeting can ease tensions, as well as help children develop problem-solving and negotiation skills. Perhaps two parties can split the profit, or maybe all money made can go toward a family outing. Have your child write up a "contract" with all the details, and have all participants sign.
Deciding what to charge for items is a dilemma for any garage sale host. Most Web sites devoted to garage sale pricing recommend 10 to 30 percent of the original cost as a guideline. Work with your child on determining the original purchase price, and let him figure the percentage. Not only is the exercise a chance to bring math to life, it provides a clear example of how things depreciate over time. (For extra help, try pricing tips from the moving company North American Van Lines.)
Before putting on the price sticker, try one more math lesson. Get an array of coins and small bills (you'll need them for the sale anyway) and have your child practice adding up totals and giving back change. Chances are she will soon discover that it is much easier to add up three items costing a quarter, a dollar and two dollars than it is to come up with a sum for items priced 35 cents, 80 cents and $1.15. See if she can guess the reason why, and challenge her to price her items accordingly (in multiples of 25 cents).
