| Children's collecting yields big
returns |
|
|
|
Investing
Not only does collecting teach children about spending and saving,
it also teaches them about investing. "Children learn
that sometimes they will buy an item and it will grow in value over
time," says Gallo.
Children need to learn how to appreciate that growth in value by keeping good records.
Parents can help children with record keeping and
keeping track of profits and losses or charting increases or decreases
in value.
Teaching children how to look up values is a great
way for parents to encourage and support their childrens' hobbies. EBay
and value guides, such as Beckett magazines for cards or the "Red
Book" for coins, make it easy and fun.
When discussed in the abstract, supply and demand
is a difficult concept for youngsters to grasp, but when parents
can help children apply the theory in the context of their beloved
collections, children quickly understand the nuances. Having
a collection is a great forum for children to learn marketing skills.
"Deciding when to sell before a 'hot' items grows
cold or deciding if an item will be more valuable if it is held
a little longer are great skills to develop," says Houser.
Buying, selling and trading
Lee, who started his baseball card collection when he was 11, learned
firsthand about buying, selling and trading when he was a teenager. After
studying multiple issues of Beckett, Lee began selling and trading
baseball cards at card shows. When he did his homework to ensure
that he wasn't taken advantage of by older or more sophisticated
hobbyists, he began turning a profit.
"I made mistakes along the way -- just like you
do picking stocks -- but it was a very good learning experience
for me," Lee says.
Although some experienced collectors such as Lee may
trade and sell for profit, it is more common for children to engage
in casual trade. Trading Pokemon cards ("I'll trade you
my Metapod for your Sealeo and Diglett") or seashells from
vacation trips still teaches children about the value of objects
and what other people will pay or trade for various items.
Don't worry if the items your child collects are rocks
from the driveway or stickers out of the bubble gum machine. They
are still sorting, categorizing and prioritizing items. They
still learn math skills and the values of items when they collect
and care for them, even if the items don't have strict financial
values.
Let your child collect what she's passionate about
or her interest will wane. The items collected might not be
worth a single penny, but the activity of collecting is worth
more than money can buy. Lee agrees and says, "If the collection
is valuable in the future, well, that's just icing on the cake."
 |
Tips for parents: |
|
|
|
|
Lynne Ticknor is a parent educator and writer based in Clarksville, Md.
|
