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Young Entrepreneurs Learn Value of Money

Young Entrepreneurs Learn Money's Value By Selling Old Clothes, Toys
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Kids five years of age and older are learning what it is like to own a business by selling things at a children’s flea market in the city of Pasadena, California. Children and parents scour the market for fun things to buy, from old toys to clothes and things the young entrepreneurs made themselves.

Tyler Ruste, 9, is working hard. Ruste is trying to make some money at a children’s flea market. Twice a year, young vendors set up tables and sell their old toys, clothes and handmade items in the courtyard of Kidspace Children’s Museum in Pasadena, California.

Kidspace began this flea market seven years ago and has been holding it twice a year. Julianne Sando, a coordinator at the museum, said the idea aims to provide young children with realistic business experience.

"It’s teaching about money and handling money… just basically how to be independent in the world that we live in," explained Sando.

But there are other business lessons. Tyler’s older sister, Alyssa, sells sweets that took days to make.

“Well, patience is one of the things you should learn from experience, because sometimes buyers don’t always buy all your things and yeah," Alyssa said.

The young entrepreneurs said they get to decide what to sell and how much to charge. They also get all the money they make from this event, and with that, a chance to make their own investment decisions.

Savannah Chavez and Tyler Ruste know what they will do with their profits.

“Actually me and my sister we are going to split the money and put it into our bank accounts," said Savannah.

“Maybe I’ll just buy my dream hotel or maybe I’ll just buy a new electronic game," added Tyler.

Beyond the financial aspects, parents said they hope these children will learn math skills and gain self-confidence as they manage their own businesses.