It’s hard to figure out value these days. With so many shortages in the world and such high demand, tied in with increased costs on every level, the “norm” is long gone and we’re left to decipher what has value and what doesn’t.
You’ve probably noticed housing prices skyrocketing lately, and as long as this influx of new residents continues, who are willing to pay higher prices, who knows what value looks like anymore?
This all pertains to adults with experience and knowledge, and we still seem lost when in comes to these issues. Imagine how hard it is to teach kids the value of a dollar?
Living in the western world and having spoiled kids, like many of you, we try very hard to teach Rhyley and Regan the value of money. Saving, looking for quality, avoiding debt, etc…
It can be challenging, but when big wants pop up, we put them to work earning their own money, we force them to save before pulling the trigger, and they go through the purchasing process to see the money actually leave their little hands. It’s had its ups and downs, but for the most part they seem to be learning.
Recently someone donated a BMX bike to Swicked for our Bikes for Kids program. Unfortunately, we don’t have space to store it, so I explained to the woman that we would sell it and put the money in the Bikes for Kids account.
I figured we would clean it up and sell it for $75. Regan heard about the bike and decided he was buying it. When I asked him how much he thought it was worth he said, “All my money Dad!”
He promptly grabbed his piggy bank, dumped it on the floor and started counting. After quite a while, and with some help from his big sister, he counted out 13 dollars and 75 cents.
At five-years-old, he doesn’t understand that this is nowhere near enough to buy a bike, but seeing how willing he was to give up everything he had, clearly showed how much he valued this slightly beat up BMX bike.
I topped up his $13.75 with another $100 to keep things fair for our charity, but this is one time that 100 dollars is worth far less than 13.
Regan now spends most of his time BMX’ing at the track or in the skate park … Probably because he can’t afford to do anything else.
I’m James Durand and I’m Goin’ Ridin’…