Tag Archive: Trading

  1. My Sister’s MoneyBags Moment

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    <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