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    Want to continue your MoneyBags Mission and hear more fun and interesting money related stories and MoneyBags Moments? Enter your email address to subscribe to the MoneyBags Life blog and receive notifications of new posts by email!

  • My Sister’s MoneyBags Moment

    <img class="alignleft" style="width: 269px; height: 189px;" alt="MoneyBags Moment, Pennies" src="http://moneybagslife best team management apps.com/wp-content/uploads/2014/04/4-20BlogPic-300×238.jpg” width=”300″ height=”238″ />My sister has a rewarding job, as a Foster Care Case Manager working directly with foster kids, but today I got a frustrated text from her asking for some wisdom.  Basically, one of her foster kids traded two video games ($50) for a bag of chips ($1) and of course she felt he got a bad deal. Did he? I think he was hungry and negotiated with something that did not meet his primary needs (The Plate Level of the Money Hierarchy Cake – Chapter 7).  So for him, it was better to eat than to keep the games.

    However, I also see my sister’s concern and desire to help, protect, and nurture him.  I told her that this is a cheap mistake.  It’s a MoneyBags Moment.  She now needs to explain to him that both items have a dollar value and she needs him to understand the dollar amount of each item.  A poor trade is one bag of chips ($1) for two video games ($50).  A fair trade would be 50 bags of chips ($50), for the two games ($50), a good trade is 60 bags of chips ($60), and an awesome trade would be for a semi-truck full of chips ($1500). The sooner he learns this the better he will be a making deals (Chapter 46- Bartering).

    Here is to filling your MoneyBags!

    Wendy


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