kids earning spending money

[sklimuck]

I read on one of the boards about buying glow lights for the trip. So I got the idea of how the kids could earn some spending money. I bought them 500 glow sticks and they went to a local touristy area in the evening to sell They sell them 3 for $1 and have made a $110 dollars so far. That's in just in a little over 3 hours. They are all excited. I had told them I would cover the cost of the initial buy if they had the incentive to go out and sell. They still have a couple of hundred sticks left and want me to buy more. They even volunteered to cover the cost this time. Not too bad for 2-11 and one 12 year old. Now they feel like they're helping to cover a bit of the trip themselves. The restaurant is a pretty laid back fun place and they don't care that the kids are there. They even come out and buy some for themselves. Now to go convert it to Disney Dollars.

 

[GoofItUp]

This is a great idea! I'm sure the kids are learning a lot, and they will appreciate their money at Disney even more I bet.

 

[Debbie]

It's great that the kids are showing the initiative! My own DDs are headed to the choral olympics in Bremen this summer with their choir, and the younger (12) got the second box of Clodhoppers to help with a wee bit of the cost. The older one. . . .well, she has a job and is paying for half of it herself.

 

[mudnuri]

hmmm I see red flags here...and I may be wrong, as I'm not a CPA, IRS, or child labor person...but this is what I see.

You bought these for resale...do you have a tax ID #?? whose claiming the income for these? Your children? of course they dont have to claim until they hit a certain amount, but I'm still not thinking this is a legit thing to do. What state do you live in? Have a sales tax? Whose paying it?

What exactly are you telling people your selling them for? If I was to see a group of 3 kids, selling something, I'd want to know what they were earning money for.....certainly if someone said "I'm earning my spending money for disney world"..I'd be less apt to buy, then if they were saying- raising money for girl scouts or boy scouts etc...

something about it just sounds wrong to me, and I"m not sure I can pinpoint it, but I'll keep thinking of a way to write this out to make more sense...

I'm not trying to rain on a parade or anything, as I'm all for my kids earning there own spending money, which mine do by doing extra things around the house...

Brandy

 

[bobcat]

So what you're saying is the kids shouldn't have a lemonade stand either? Well unless you contact the local health department and have the health inspector out to check the lemonade and make sure there are no bugs on the ground and they are using the proper containers and are serving it at the proper temperature.

What's wrong with a little entreprenurial spirit! Now if they are going to continue selling them then I would check with your local town and see if the kids have to have any type of permit or anything. There may even be local agencies that will start them with seed money to start their own business. Good luck to your kids.

 

[dpayne1969]

we have yard sales and my kids keep all the money from their items they sell.We are from a small town and dont even require to have a permit to have a yard sale.Unless they are getting rich from this i say what the hey.We sell glowsticks as well here at our local school carnival and NO we dont pay taxes on it.My kids make a lousy 50.00 profit from this and they think they are rich.
LOL.I have paid my taxes from buying the items the first go round.
You are allowed a certain $ amount before you have to claim it anyway and i doubt the kids will hit this amount by selling glow sticks.

 

[sklimuck]

- we had a garage sale this weekend, too. That money is going towards vacation, also! For the little bit the kids are going to make, I'm all for it. And they tell the people the truth- they are trying to raise some money for vacation for themselves. Most people are tickled to death- they see kids out trying to make a bit of money. Rather that than sitting on their duffs. They sell them cheap, too- 3 for a dollar- at the local parade they pay 2 and 3 dollars each for them. Maybe a lot of other peole make a ton of money, but this vacation is putting a crimp in the budget-my kids deserve a good one- and the kids want to do their share to help out!

 

[Jana49]

When I saw this thread topic I thought YAY, kids EARNING something for a change!! Most people would be very proud of what these kids are doing!

Sklimuck -please don't let one spoil-sport dampen your spirit, and tell your kids that if I lived close, I'd buy some of their stix, too!

Jana49

 

[pjlla]

Great idea! Wish I had thought of it. I think I will go to the Oriental Trading website and order some glowsticks. My Mom and I have an American Cancer Society "Relay for Life" team and we are always looking for new fundraising ideas. I think I will get some of these glowsticks to sell at the relay!!....................P

 

[dpayne1969]

Originally posted by pjlla
Great idea! Wish I had thought of it. I think I will go to the Oriental Trading website and order some glowsticks. My Mom and I have an American Cancer Society "Relay for Life" team and we are always looking for new fundraising ideas. I think I will get some of these glowsticks to sell at the relay!!....................P

Honestly i would check ebay first.This is where we buy ours from.
They are much cheaper than oriental so i would try ebay first.
You can get like 200-300 sticks for like 25.00 which includes cost of shipping!These are sooo fun and the kids will just love them.
You can sell them cheap and still make a little profit.
Have fun selling these and good luck!!

 

[sklimuck]

Thanks for the support to all of you! And I agree- ebay is the way to go. Ours were right at $30 (including shipping.) For a big fundraiser, you can even get a whole case, like 2400 or something for around $120 or so.

 

[disneychrista]

I had some of the same concerns as mudnuri.

This is a business enterprise and may or may not require a business license - I would check into this. The money (profit) generated from this is taxable. Sales tax should also be paid.

I think it is a great idea, if you have a market for it - GO FOR IT!! Have fun, just be sure to check the legal issues around, I am sure the fines will be much more then the minimal costs of a business licence and income & sales tax.

 

[beansmom]

I have to agree that it's a good thing that your kids are EARNING their spending money...after all, that's what life is about right? Being responsible for making your own way?

My dd is in high school and she sells snacks to her friends---teenagers are ALWAYS looking for something to eat. She makes a little but I bet as Disney comes closer, she'll get more motivated.

I think it's good.

The entreprenuerial spirit and good work ethic is what made this country great and lack thereof is becoming its downfall. People are scared to really work for anything anymore.

 

[pjlla]

THanks for the info on ebay.... never thought of checking there (don't know why, as I am an ebayer!). I had already placed an order with Oriental Trading and I was a little disappointed with their prices.... but they were dirt cheap on Ebay. So I called Oriental and cancelled my order and ordered 300 on ebay! Yeah Ebay! It is much easier to make a profit when you are paying 20 cents a piece originally than $1 a piece................P

 

[sklimuck]

For all those (2 of you) that seem to be having a problem with 11 year olds making a few bucks selling something- sure I could go get a license, but in Arizona you have to be 14 to work, so that won't work. I suppose I should get some sort of a permit to give them an allowance, but then I'll get in trouble for working them, so gosh, I'll just fo put them in childcare and work some more hours and be with them less and just go ahead and give them the money. I hear you can give gifts of $10,000 without being taxed. GIVE ME A BREAK!!!

 

[disneyjunkie]

I think this is a good idea. It's a great way for kids to earn money for a trip. As I was reading this I was thinking I could let my son do this at blocks parties during the summer. He'd make a killing. I also know if a cop were to stop us and ask to see a permit, we'd better have one or we'd be in alot of trouble.

I think what the other 2 posters said about making sure all paper that may be needed is in order is a great point. I don't think they were trying to rain on your parade. They were just pointing out something you may want to look into. Maybe permits aren't an issue where you are, but they maybe in another area.


Oh, what's wrong with using childcare?

 

[disneychrista]

Originally posted by sklimuck
GIVE ME A BREAK!!!

Children (at least in California) can work in their PARENTS businesses well before 14 (the legal age for kids to work). So if YOU get the permits etc then they can work for YOU and YOU wouldn't run the risks. But then again it is your fines etc not mine. Just hope you don't take the money away from your kids to pay the fines. Its not their fault their parent refusses to make sure it is okay.


But then again I also had no problems with your children earning money. I think it is a great idea. I was only trying to give some helpful advice about checking into the legalities so you wouldn't run the risk of loosing all the earning by having to pay fines. Good Luck.

 

[ChiTownZee]

I don't think there is anything wrong with your kids earning their own spending money. I DO think it might be against the law to sell things in a public place without a license/permit. You had said they were selling them in a "touristy area", not exactly sure what that means.

 

[OzFan]

I think it is a GREAT idea for children to earn their own money for Disney. I have 4 girls and it gets pretty expensive! I have found that when it's their own money, they tend to think twice about spending it. Last year for Easter and birthdays family members gave my girls Disney dollars. My 10 yr old had $175 when we left for Disney. She was really responsible with it. She spent only half and the rest went into savings. My 13 yr old babysits, my 15 year old (girl) cuts the lawn for her grandparents. There a a ton of things that children can do ( no worries about permits or taxes) to earn extra money. We reward for good report cards (Disney Dollars only) and they also get an allowance (1/3 Disney Dollars, 1/3 cash, and 1/3 savings). When it's a little at a time coming out of my pocket, it doesn't seem like much. I applaud you for teaching your children the value of earning money. Most of the kids I meet today think they are entitled to whatever they want. Working for what they want will only make them a better adult!

 

[dpayne1969]

I agree with the lawn mowing thing as well.My son does this for like friends and family and they usually pay about 20.00 for a yard.Plus in the fall he rakes leaves for grandma and she pays him for that.Plus everyone knows we are going to Orlando so for birthdays they get money plus 1 small present.Each kid has a jar with their name on it and every dollar they get it goes in the jar!
We are having a yard sale this weekend and whatever is theirs like toys or clothes they get to keep.I also put some of my dd toys on ebay and she will keep that money as hers!!