Tuesday, March 30, 2010
A Free Enterprise Lesson
I love this! Cavett came up with this idea out of the blue! He has been working hard at saving up his money to buy a Nintendo DS. Something we would never buy him, especially at this age. Today at lunch the conversation went like this:
Cavett: Mommy, I want to open up a restaurant.
Mommy: Why is that?
Cavett: Because I want to make some money to get a DS.
Moomy: That is a great idea! What kind of restaurant? Is it an Italian restaurant, Mexican, Chipotle, or something like a Chick-fil-A?
Cavett: The one like in Houston, you know with the ice cream, but not an ice cream store.
Mommy: You mean Gringo's?
Cavett: Yeah, that's the one.
Dad then joins the conversation...
Dad: So, what do you need to open the restaurant?
Cavett: Build a building, unlock it, open it up and then there it is.
Dad: Where are you going to get the money to build it?
Cavett: From the bank. I can use your money.
Mom: That's called a loan. You borrow money from someone, but then you have to pay them back even more. Like if I let you borrow 25 cents, you would have to pay me back 30 cents.
Cavett: That sounds like a good idea, I guess...
Mom: Or you could just help me with the laundry and dishes and earn a few extra coins and keep collecting them for your DS.
It's great to see his free enterprising spirit! I hope to nurture this, but keep the borrowing in check. If only more would see this as the right way instead of leaning on the government to provide for them.