Guest Post: How Selling Night-crawlers During the Summer Can Help Teaching Children About Money

Absolutely LOVE this guest post that was sent in by Madoline. Learn about money with night crawlers! The kids will just love this idea! Enjoy! Make sure you send me your own articles for me to post on your behalf to help inspire our members with more fun ways to teach our children about money.

Cheers…Amanda…Excited Life Enthusiast! ;o)

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How Selling Night-crawlers During the Summer Can Help Teaching Children About Money

When it comes to teaching children about money, a business perspective can show why budgets are important. Without a plan for spending, the business could fail. Since children are limited in what forms of businesses they can operate, selling night-crawlers could be a valuable and easy way for a child to learn money practices. How can selling worms prove to be a positive experience?
1. Inventory – Night-crawlers don’t require an investment for inventory. Unlike other methods, catching worms doesn’t require an additional purchase for raw inventory. While it may entail a type of skill for pulling them out of the ground, the profit margins are greater. This is a valuable lesson in costs. Lemonade costs are greater as your inventory is not only more perishable, but it takes additional money to replenish the mix.

2. Loans – If someone doesn’t have the money to start a business, they will most likely get a loan. As a parent, you will more than likely take the role of the “bank.” As an example of paying loans back, you can set up a weekly payment plan based on a small percentage of the income. Summer vacations only last for less than three months, and a weekly or bi-weekly payment plan can help them see the results of how a loan impacts a business.

3. Materials – In order to sell night-crawlers to potential fishers, cups and lids may need to be purchased. This first purchase should correspond to how the night-crawlers are going to be sold. If your child charges by the dozen, then he or she will need at least enough cups to hold the total number of night-crawlers caught divided by 12.

4. Pricing – Traditionally, sales of night-crawlers range between $0.50 and $1.00 per dozen. This may be impacted by the worm economy of your area. This means that your child should price them according to the competition. However, your child should be able to make a few dollars even at $0.50 per dozen.

5. Marketing – In order for your child to make money, he or she will need to understand marketing. For a project as small as this, simple signs in the neighborhood or along busy streets should suffice. Signs that say “Night-Crawlers: $0.50 per Dozen” or similar can be made from cardboard boxes. Adding the address or location of where your child is going to set up shop is equally as important. They need to find you if they are going to buy worms.

6. Operational Costs – Once the worms are being sold, your child needs to understand that operational costs come first before payroll. This means he or she needs to pay back loans and buy more materials in order to stay in business. If additional marketing ideas are developed, money needs to be spent on that as well. After the costs are paid for, everything else is pocket money.

Selling night-crawlers can be exceptionally easy provided you are in a location that has access to hunt. A well-watered patch of lawn could reveal a great deal of night-crawlers, and it may lead up to some late-night hunting expeditions with yourself and your child. However, the project is worth the investment of time as your child can experience what it means to manage money from a business perspective. This could be helpful to demonstrate why shop-lifting is detrimental to businesses as well. There is no money coming in if someone takes your materials.

This article is contributed by Madoline Hatter. Madoline is a freelance writer and blog junkie from You can reach her at: m.hatter12 @ gmail. com.

This entry was posted in General Updates, Kid Entrepreneurs, Kids And Money, Kids Money Management, Money Lessons for Children, Ways for Kids to Make Money and tagged , , , , , , . Bookmark the permalink.

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