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Don’t spend all of your Christmas/Holiday money!!

You can equip your family so that they don't have to depend about the Bank of Mom and Dad forever.Does your daughter spend her gift money faster than a speeding bullet?  I’m betting that your daughter has received money as a gift.  Perhaps birthday.  Or the holidays.  Or some other special occasion.

But does she immediately spend her money?  Or does she save a percentage?   Let’s talk about how she can game change her future by starting a serious savings plan.

Don’t stop spending. Start Small

Start with savings.  Make it a habit that every time your daughter receives money, she needs to save a   percentage.

If they are little, this is easy.  You take the money and drop it into a savings account.  Or start a 529 account.  I started this practice when my daughter was young.  While I’m not always perfect, the money does start to add up quickly.

It’s a habit.  Not the amount.

You can also open a savings account and empower them to make the deposits.  Make it a fun activity.  Let them write out the deposit slip.  Count the money that they are going to give to the teller.  And yes, yes, yes.  I know that interest rates are horrible.  But it’s not about earning a zillion dollars every time that they deposit the money.

It’s the HABIT of saving that’s important.  This habit will last a lifetime if started young.

Imagine if you saved a percentage of your money from your first job when you were in high school or college?  You’d be sitting on a nice chunk of cash right now.  It gives you options.  (And kudos if you are in the small minority who did).

Don’t stress

If you haven’t, please it’s never too late to start!  And give it a powerful lesson to your kids.

Don’t get caught up in how much.  There are a ton of blogs, financial advisors, etc who will tell you exactly how much to save.

But it can get complicated and I don’t want you to worry that you are not saving enough.  Just get started.  And keep going.  Even if it looks like it’s only a few dollars.  It will add up over time.

Instead, keep it simple.  Use the savings jar method.  Dave Ramsey talks about it.  And I found a great post on how to make your own super easy savings jars on the CreativeSavingsBlog.

The important thing is to get started.  And make it a habit.  Start your kids with 10% if they normally just spend the money.  Or challenge them to go higher and see what results happen.

So post your pics of your savings jars in the comments below.  And good luck getting started!

Wanna join the community?

You'll join if you care about boosting your daughter's entrepreneurial mindset. Because she ain't never going to be sleeping on YOUR couch without a plan.

How your daughter can earn holiday cash selling crafts on Etsy

Does your daughter want to earn some extra spending cash? Is she crafty? Consider selling on Etsy.

Does your daughter want to earn holiday spending cash?  Is she crafty?  Consider selling on Etsy.

Why Etsy?

It’s one of the most recognized places on the Web to sell hand made items.  So whether you start the store for holiday cash or for fun, your daughter has a well-known brand behind her talents.   Their website has a ton of hints and simple steps to get started setting up the storefront.  So your daughter will get some ideas easily on how to turn her crafts into a marketable business.

If you haven’t already visited, head to the website, www.etsy.com. There are thousands of sellers already online. Don’t get mired in too many details if you feel overwhelmed or are new to the process. Because a simple and finished storefront is much better than one that is cluttered.

What should I do before I go online?

  1. Spend some time on the site researching similar products.
  2. Calculate your costs.  How much does it cost you to make the item? What are the approximate prices that you see others are listing for similar items?
  3. Write a description to entice buyers.
  4. Take photos of your products in good lighting and try a number of angles. This is obviously a step your daughter can participate in if she can handle a smartphone.

How do I get the store started?

The platform walks you through each step.

  1. You will need a name, your photos, the descriptions, and your prices.
  2. Fill in as directed and select your billing and payment options.
  3. Your items will be available once you complete the sign-in and finish your store.

How do I get people visiting the store?

Etsy businesses do well from consumer Google searches.  But don’t rely solely on this to promote the store.  You and your daughter can sharpen your sales skills. Print business cards using the link the platform provides.  I’ve used Vistaprint and Staples.  But there are a host of quality stores where you can print business cards cheaply.  Encourage your daughter to carry a few as well if she feels comfortable. Having your own business card in your wallet raises self-esteem.

Don’t be shy about telling people about the business.  This is the holiday season! People are looking for great gifts and can help you earn that holiday cash fast.  Put links on your Facebook page and other social media sites. Facebook and Pinterest offer pages for businesses. Consider a separate page for your new brand. And, since Etsy is product and craft driven, visuals sell. Add photos of your handiwork to Instagram.

Etsy sellers have access to a wide range of help pages on-site and off.  But challenge your daughter to consider what interests her.  Ask questions about which methods she likes best to promote her store.

Like on the job training, a home business can be a way to stimulate creativity.  Your daughter can have a new side income and new found skills on how to sell and market her business.

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