Skill 3: Money Management
A recent Gallup poll found that only 32% of American households keep up a monthly budget or have long-term financial plans that include savings and investment goals (see Skill 1: Goal Setting!). That means that on the flip side – almost 70% of American households DON’T! That’s a huge problem. Why am I talking about Gallup polls and finances on the Girl Scout blog, you ask? There is a good answer: Imagine if we starting talking to our children about the importance of money management at an early age. We could be setting an important financial foundation that would keep them from becoming one those households without proper budgets or money managing skills. Oh wait – at Girl Scouts, we are already doing JUST THAT! Our girls talk finance and learn these skills by participating in our Girl Scout Cookie Program.
Learning how to be comfortable handling, using, spending and budgeting money is a priceless (pun intended) life skill. For girls who are Girl Scouts, this skill can start to develop as early as age five when a Daisy first starts to explore the skills that she acquires while selling cookies.
Aside from the personal money management skills, girls can also earn badges that will help them understand what it means to sell goods: wholesale vs. retail, margins, profits and the cost of doing business – that hot chocolate break in the middle of your door-to-door selling activity wasn’t exactly free! In the long-run having experiences like this will help them understand the business world in a way and at an age that most people never have the opportunity.
In fact, many of the female CEOs of the top companies in the United States will tell you that they got their first “taste” of business selling Girl Scout Cookies.
What interesting ways have you learned to manage money this season? Do you have any helpful hints for your fellow Girl Scouts? Send me pictures/videos/emails sharing your Girl Scout Cookie experiences this season! Email me today.
Yours in Girl Scouting,