Allowance

Gwen: Once I get enough money I can buy my own Nexus, right?
Me: Yes, and in a couple of years we will start giving you allowance.
Gwen: Why?
Me: So that you can buy some of the things you want.
Gwen: In a couple of years I will be 12 already and will be able to walk around on my own and then I could cat sit and earn money that way, I will not need an allowance!
....
Such mature talk from my almost 10 year old.

Indecision

Gwyneth decided to spend her own money (from lemonade stands and presents) to get an ipod nano.
Me: So which color do you want?
Gwen: Which one do you like purple or red?
Me: Red, I think.
Gwen: I want red and I want purple....ahhhh, I can't decide.
......
5 hours later
Gwen: I want red and I want purple....ahhhh, I can't decide.
So we finally agreed that I will buy the color that I think would be best for her!!!

PorchFest

Another lemonade stand, this one at the end of our driveway during the highly successful Somerville PorchFest. Right after coming back from Tae Kwon Do, Gwyneth and her friend set up the stand and we worked as constant couriers of lemonade -- in an hour and a half they made $8; than her other friend showed up and they made another $14 by the time the signing and dancing was over!! And that is at an old price of 25 cents per cup. About $11 for her for about 3 and a half hours (not counting the cups/lemonade)

Professional conversation

My friend Ksenia is staying with us for the holidays. Gwenchik wanted to know what exactly Ksenia does for a living. The way Ksenia explained internal audit consulting:
Ksenia: I visit different companies and I just give them advise....
Gwen: And people actually PAY for this?

Shorting money

At this point, from her birthday presents and several summer yard sales Gwenchik has about $200 in cash. About a week ago when her grandmother came to pick her up  and realized that she forgot her wallet Gwenchik generously offered the money that she has to grandma.

Gwenchik brings her new wallet that she got for her birthday and pulls out her riches -- $200. However all the dollar bills look weird -- much shorter than normal.
George: What is wrong with the dollar bills?
Gwen: Well, when I took the money from the envelope and transferred it into my new wallet the bills just wouldn't fit, so I cut the sides off. You see how nicely they fit now?

Lemonade stand

We joined in on our friend's yard sale a few weeks ago, where the biggest draw turned out to be a lemonade stand for 25 cents. Gwenchik got quite good at being both persistent and cute to drum up business. Her marketing techniques were so great, that the girls managed to sell $3 plus worth of lemonade in about 2 hours with not much foot traffic.

Gwenchik was a bit disappointed as she was planning how to spend her millions on her way to yard sale and $3 is nowhere near a million, even she understands.

So we are now having our own yard sale tomorrow, mainly so she she can set up her stand. And she thinks that she can do better than $3, now that she knows how :)

Millionaire dream

Gwenchik read somewhere about kids entrepreneurs, who made lot of money even before graduating high school.

Gwen: Wow, it looks easy. So what do you think I should do to became a millionaire?

Me: The only thing I can think of is programming cool apps for iPhone.

Gwen: Hmmm, but how will I get all my money? Will they know it is me? If yes, let's start today....

Taxes

Gwenchik's discussion about government leads to:

Gwen: Everyone pays taxes so we can policemen and fireman, right? Do policemen and firemen also pay taxes?

Grandma: Yes, of course.

Gwen: Now that is ridiculous! Are they paying for themselves? Just give them less money....

Ten deeds of the day

1. Packaged pennies and dimes into rolls

2. Went to the bank to exchange for real paper money ($20)

3. Symphony concert

4. Filled in application for a library card

5. Signed for Gwenchik's own library card

6. Selected ten books to read

7. Told all the neighbors about the money and the library card :)

8. Math homework

9. Several chess games with Dad

10. Make pancakes with Mom

My own money

Gwenchik just came from her hockey practice -- all smiles. Often during or after practice kids ask for lollipops from the stand and once in a while we oblige Gwenchik as well. The last time we talked that we can buy a bag of these in CVS for about twice the price of one of them... and that got her thinking and planning...

Gwen: Mom, look what I bought with my own money! You know I took it out of my piggy bank.

Me: Nice friendship bracelet and a sticker for your helmet.

Gwen: Yes, the sticker is important and will stay forever. And the bracelet is better than a lollipop: you can't buy a bag of these in CVS, and anyways a lollipop would be gone in five minutes and all I would have to show for it is a blue tongue.

Tooth Fairy inflation adjustment

During our long drive to Toronto Gwenchik lost yet another tooth and was a bit concerned if the Tooth Fairy goes this far north.

Gwen: Will she know that I am in Canada, just like Santa? What kind of money will she give me? Does Canadian Tooth Fairy actually give dollars or maybe dolls?

.....

In the morning Gwenchik got 3 Canadian dollars (a loony and a toony)

Gwen: Mom, the Tooth Fairy gave me 3 dollars!!! Not one!!

Tooth Fairy II

So with much ceremony, we put the tooth under the pillow.

Gwen: You know, Ivy at daycare said that Tooth Fairy is not real.
Me: She did?
Gwen: Yes. She also said that Santa Clause is not real. Can you believe it?
Me: And what do you think?
Gwen: I think that they are real, just they do not want you to see them, and because you can't see them doesn't mean they are not real! You will see, the Tooth Fairy will probably sneak in tonight right after I fall asleep.

Buying

We stopped by at a street yard sale and Gwenchik really wanted to get several things. Finally we agreed on two:glass bead bracelet and a woven wallet.We get home and she is showcasing her new stuff.
Gwen: Look what I got! And it is mine now.
Grandparents: How did you get it?
Gwen: I bought these
Grandparents: ?
Gwen: I smiled, and smiled and then mom gave them money.