TRANSCRIPT 🔗
Frankie:
0:34
Welcome to the Launch, a podcast where families explore fun and easy ways to build bright financial futures together. I'm Frankie.
Alfredo:
0:41
And I'm Alfredo. We're here to help family and children learn, save and grow together as a team. So let's blast off in today's topic.
Frankie:
0:48
Today is our season finale of the first season of the Launch Podcast. It's been so much fun and we're super excited to talk today about creative ways to earn your first dollar. Do you remember how you earned your first dollar?
Alfredo:
1:04
I do, I do. I didn't learn it until about a little bit later. I was about 11 years old 12 years old, if I remember correctly, and I actually had some help from my dad. My dad would often teach me certain things, like how to do some gardening work, things of that nature, and I actually earned my first dollar mowing lawns for our neighbors.
Frankie:
1:22
Oh, that's so cool.
Alfredo:
1:23
Yeah, and I made some pretty good money. I didn't know what to do with it after, except when the ice cream man came around, but outside of that, that was my first. How about you?
Frankie:
1:32
So I actually had a lemonade stand with my older brother, so my mom helped us make the lemonade. We also made cookies too, and we used to sit in front of our house, which was a very quiet street. No-transcript.
Alfredo:
2:03
That's so cool. I think there's a lot of things that, especially now with technology, that little ones can do to earn their first buck. But I got a question for you what does it mean to earn money? But I got a question for you.
Frankie:
2:14
What does it mean to earn money? So that is just giving your time, your effort, maybe your knowledge, in exchange for something.
Alfredo:
2:25
So, whether it's money, or a toy or something like that. Yeah, absolutely. I think you said it well perfectly. Sometimes we do maybe be doing chores or a task around the house, your neighborhood, or maybe even helping your family store if they have a store, as an example and they'll give you some money in return that then you can use to save, spend or do with what you please.
Frankie:
2:45
Cool, and I know some kids do chores every week and get chore money. But if that's not the case, I just want to talk a little bit about creative ways that kids can earn money if they don't have a traditional job yet.
Alfredo:
3:01
Yeah, so you want to think about what's accessible to you, what's in your area, what can you feasibly do? You're kind of now starting to think like an entrepreneur how can I start my own business? I know one thing that one creative idea or one idea that you can get started with is that a lot of people own pets and love their dogs. So maybe you can find out who in your neighborhood owns a pet and offer to walk their dog for a small cost, something to kind of get started, get going. That way you can kind of get your business going. That's one idea. How about you, frankie? Do you have any ideas?
Frankie:
3:32
Yeah, I would just say, start thinking about something that you enjoy, something that you love to do. If someone's an animal lover, maybe they can walk the dogs. Like you said, I love plants, so maybe it's planting flowers in the pot and selling them. Maybe it's a lemonade stand or making some birthday cards and selling them to friends and family. But definitely, I'd say, think about what's something that you enjoy doing and not just because it makes money.
Alfredo:
4:01
Sure, I love that Absolutely. Another idea or something to think about is, if you're artistic or you like to draw or paint, you could even offer to draw people's pets as an example, or make crafts and sell them you know, whether they're bracelets, necklaces, things of that nature that you get to do best of both worlds Do what you love, maybe also earn a couple bucks while doing it.
Frankie:
4:23
Absolutely, and I don't think we plan on talking about this. But when they make their ideas of things that they can do for money, how do you find out how much you want to charge for doing that thing?
Alfredo:
4:34
That's a great question. Obviously, you want to take into consideration the cost of your equipment or what it takes, and then also put on top of that you know what much does the string cost or your materials cost? You need to be profitable in the sense that you want to have at least the minimum amount to cover your expenses right, and then after that you can ask for guidance from your friends or your family to help you figure out something that is affordable but can also earn you a couple bucks.
Frankie:
5:07
That's awesome. Yeah, definitely think about so for my case, when I was making the lemonade and the cookies. What are the things I need to go to the grocery store and buy to make my lemonade and my cookies, and then a little bit extra on top, so I'm making money and not just breaking even.
Alfredo:
5:23
See, I could never do a lemonade stand and cookies, because I would probably drink lemonade and eat the cookies myself.
Alfredo:
5:29
So that's why I mowed lawns. It was a lot easier for me. But absolutely, as Frankie said, you want to take into those costs into consideration and that way you can kind of come up with a price and maybe even ask some of the friends who have done this before, if they have, hey, how much did you charge, did it work, did it not work? Maybe some of your friends, you guys, can group together and figure this out as a fun challenge.
Frankie:
5:48
Absolutely. And so that leads us into our family challenge for the week, last family challenge of the season, and that is to think of something that you can do to make money, something creative, and talk with a grown-up about what it's going to take to do that. So is there supplies that you need. Do you need help from an adult to take you to the store to buy those supplies? How are you going to sell it? How much are you going to sell it for? And then put that plan into action?
Alfredo:
6:15
Absolutely Leverage your friends, your families. They could be your first sponsor or your first investor into some of these activities. I love that. Have some fun with it. We just want to say thank you for enjoying and being with us this first season. The season finale 20 episodes enjoying and being with us this first season the season finale 20 episodes.
Frankie:
6:32
Can you believe it? Amazing stuff, awesome, and make sure you tag us. We'd love to see what creative ideas you are doing and thinking of to make money and we will see you next season, same place, and we will catch you later.
Host:
6:45
The launch is hosted by Alfredo Martinez and Frankie Cohen and is taped in Studio 57 at Premier America Credit Union, located in Chatsworth, los Angeles, in collaboration with the Premier America Foundation. The show is produced by Richard Didor and edited by Sam Atkinson. The launch's music was written and composed by Brian Sanchin. For more information, visit premieramericacom. Backslash youth.