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July 09, 2008

The GirlMogul Story

The GirlMogul Story

It all started with a strange invitation. A simple, clean crisp invitation to four very different girls, from different backgrounds, with different interests and talents. Asked to meet at the City Library one weekend afternoon, their parents and caregivers dropped them off (after thoroughly checking everything out) into the optimistic and caring arms of Abby. Led through the ancient building to, they went up , up and up, to the top floor (which they had never even known about, not even Rose), to meet the strange mysterious Dr. Smith. With her gray hair pulled back in a bun and crisp navy suit on, she looked over the girls. Rose, Poppy, Lily and Daisy. Under that steely gaze, even Daisy straigntned up from her slouch and wished she was wearing something beside her favorite, torn and tattered t-shirt.

And then Dr. Smith smiled. “Welcome girls. We have big things planned for you…” And so begins the story of the GirlMoguls – Lily, Rose, Poppy and Daisy – and no, those aren’t their real names. Read on to find out more about the Girls

Lily

Lily’s fun vivacious and outgoing. She’s a natural leader and that’s the role she’ll assume in the group. She makes friends everywhere she goes. A decent student, Lily can do really well when she tries hard. When she doesn’t try in school, she does ok. She’s a little better at math than any other subject and sometimes finds reading a whole book tough going, unless it’s about something really interesting. Unlike the other GirlMoguls it may seem Lily doesn’t have any special talents, but her natural ability to rally the team around, listen to all sides and make decisions will make her an excellent leader. Watch as she discovers an unknown interest in money and business.

Lily lives in the suburbs of the city, with her Mom, a real estate agent, and her dad, a banker. They have a dog named Scoochie.

Poppy

Poppy’s the scientist of the group – insatiably curious she’s always asking why. She has a love of animals and when she was little spent hours collecting bugs, worms and other things. She has two fish tanks, one turtle tank and a hamster. She’s always watching the Science channel and reading anything about science. For the holidays last year, she got her first chemistry kit. She set up her own lab in her room, where she’s constantly working on perfecting a new hand lotion for her older sister.

Daisy



Daisy is one tough cookie. Super smart, sarcastic and a little bit of a rebel, Daisy looks tough on the inside but has a heart of gold on the inside. She lives with her father in an apartment in the heart of the City. She loves the great views, but her favorite thing is working on her computer. She disassembled her first computer when she was 3, and since then has been building her own and writing programs for it. She’s even built a few of her own gadgets like a remote door bell and phone ringer – it drives her dad crazy. Daisy never does well in school, but she could if she tried. She doesn’t though – she’d rather be playing a video game, building a computer or programming an widget for My Space.

Rose

Rose is the quiet one of the group. The scholar, the writer and the observer. The voice of the GirlMoguls, she starts chronicling their adventures. Rose lives on a farm on the outskirts of the City. Her mom works the farm while her dad is overseas. It’s a busy life, but overall it’s good. Rose loves to read and can lose herself in a book when she’s not supposed to be doing chores. Also very curious, Rose believes that everything worth knowing is in a book – she most often goes to the library (or her computer) to find the answer to something. Often the voice of reason in the GirlMoguls, Rose is an excellent researcher – with Daisy’s internet skills, Poppy’s curiosity and need to experiment and Lily’s leadership, there’s no problem they can’t solve.

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July 08, 2008

Running A Successful Lemonade Stand

Fresh Lemonade.jpg

 

 

Ready to make some money this summer? Want to make lemonade out of lemons? Well read on for some great tips on running a successful lemonade stand. It will take some hard work, but the effort will be rewarded. For a great way to get started, check out our Lemonade Stand Entrepreneur Kit

Safety First!

Before you decide on running a lemonade stand, talk to your parents. A responsible adult should always been within eye contact. Also, never go up to a car to deliver lemonade – let the buyer come to you.

Location, Location, Location



It’s an old rule but true. Lemonade stands rely on passersby for business, so you’ll want to choose a spot that has a decent amount of people passing by, whether it’s walkers, cyclists or vehicles. If you’re counting on car traffic, make sure that there is a place for thirsty drivers to pull over and be able to get out.

Also, don’t forget to make signs directing people to your stand – people will go out of there way for a cup of lemonade on a hot day, but only if they know it’s there.

Quick Tip:

Do your market research – not sure of the best spot? Pick a couple of spots and do a count – stay at each spot for certain length of time and count the number of people/cars that pass by. When checking on different spots, try to do it at the same time of day and with the same weather. Pick the most heavily-trafficked spot.

Who's it for?

Are you doing this for yourself or for charity> If you’re doing a lemonade stand for charity be sure to advertise that fact. If you’re doing it for yourself, then make sure you’re honest about that to – in fact if you’re doing it for something specific, like a new bike, you might want to let people know that you’re raising money for a goal.

Quick Tip:

Combine the 2 - You can run a lemonade stand for good and profit. You can sell lemonade and donate a portion (a percent) of your sales to a charity – make sure you tell people about it and make sure you actually donate some money.

A great charity is Alex's Lemonade Stand. Started in 2000 by a little girl with cancer named, Alex, the Alex's Lemonade Stand program has raised millions of dollars to fight pediatric cancer.

Or if you're feeling a little competitive, check out Inc Magazine's Lemonade Stand contest.

Professionalism

It doesn’t take much – you don’t have to build a fancy stand – just a card table, a nice tablecloth, some cups & the lemonade. Don’t forget to dress neatly and smile. Also have change on hand (get help from Mom or Dad with this) and have a calculator handy.

Making Money, Honey

You’re running a business, not a charity, even if you’re raising money for a charity. Don’t give your lemonade away for free. You’ll want to determine how much it costs to make a cup of lemonade (including the ice, the cup, etc) and then set your price higher than that. You’ll want to look around and see what other lemonade stands are charging so you’re in line (or competitive). Charge too much and no one will come to you. Charge too little and you won’t make any money.

Want Fries With That?

Notice how they always ask you that at a fast food restaurant? It’s so you’ll buy the fries you didn’t even know you wanted and spend more money. Consider selling some other items with the lemonade. Can you make a great chocolate chip cookie? Or perhaps you have access to one of those warehouse clubs where you could buy pre-packaged snacks (chips, cookies, candy bars, bottled water) and re-sell it.

Juicing the Juice

Sometimes people will pay a lot more for the same thing. You may able to charge more for a cup of homemade (really homemade) lemonade than something made from mix. In fact it could be your stand’s signature – “Authentic, homemade lemonade”. Just be sure you know what it costs and how to price it – and that it really is better than everyone else’s.

Staying in the Game

If you’re committed to running your stand week after were you can make more money than if you just do it once. Why? For one thing, you’ll become a community fixture – people will expect you to be there – if they weren’t thirsty one day they might be the other. If you do a good job and have great lemonade and cookies, then your customers will tell other customers, and so on – you just need to be there.


 

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February 06, 2008

Four things to do with your Money

So girls, there are really only four things you can do with your money, whether you have one dollar or a hunded.

1. Save - the obvious one.  This means you put the money away someplace (in the drawer, in a standard savings account) and you don't touch unless for carefully considered reasons - the rainy day has finally come.

2. Spend - the second obvious choice.  Most of us need to spend some of the money we have, for necessities like food, shelter, etc.  It's figuring out what the difference between a need and a want that you're classifying as a need that makes the difference in how much you spend and have left over. So the more you can control your spending, the more you will have left over for everything else

3. Invest - this is money that you haven't spent, or saved.  Here you are going to take some risk with the money.  You're going to spend a little money in hopes to make money.  Some investments are safer than others.  For instance some bank accounts pay a higher interest rate than others, but may not be secure.  However, you might also decide to invest in a company, through the purchase of stock.  You buy 1 share for say $10 and you hope that the share price will go up, to say $11 - thereby giving you a 10% return on your investment. 

However stocks are risky and sometimes the share price might go down to $9 and you have less money than when you started.  So it's important to invest with money that you don't need - after you have spend for your necessities and put some aside for the "rainy day".

You might also decide to invest more directly in your own business. For instance you may decide to start a babysitting service. So you invest $10 in printing up fliers and post cards in the hopes that you will get several clients who will pay you more than $10 for your services.  That would be your profit as a result of your investment.  Your profit can be used how you wish - Spend it, Save it, or invest it again...

4. Give it - that's right - sometimes, girls it is better to give than to receieve.  Somehow the money we give seems to come back to us in some other form  - the great cosmic rule of the universe, I guess.  So if there is a special cause you would like to support, don't be afraid to share some of your cash with them - just make sure you have covered your spending needs and your saving needs first!  And - please lending money to friends isn't exactly charity - it's called borrowing - and they should pay you back!

 So four different ways to spend your money - what's the best way to stick this plan.  Take 4 jars or a box or something and divide it into 4 different compartments.  Mark it spend, save, invest and give and divide up your money among the 4 buckets.  You don't have to divide it evenly, in fact saving just 10% of your income can make you rich in the long term - that's $1 out of $10, as long as you don't spend that dollar.  From the save dollars, you might want to allocate half of that to investment purposes.

To help with your spending - sometimes we need little things on a regular basis, and sometimes we want something bigger - like a new shirt or shoes.  Make a list of the bigger items you want. Cut out a picture of it and put it on a jar to motivate you to save for it.  Put some of your money towards those everyday expenses and something towards the thing you really, really want. Paying for it yourself, in cash will feel great.

Check out more fun money tips at www.girlmogul.com

Check out our GirlMogul Power Apparel at GirlMogul

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January 28, 2008

Quote of the Day - Money & Life

"When you are in control of your money, you are in control of your life."

Powerful words to live by GirlMoguls - remember not to be owned by your money - own your money and your destiny.  There is no doubt that money makes the world go round and that as girls and women we need to educate ourselves about the importance of money.  Woe to us if we don't.  Money is, as they say, a means to an end, not the end itself.  It may buy us things, necessary things, luxuries, experiences, education, presents etc.  But most importantly, money in the bank represents options - options to take a different job, to buy a house, to go on a trip, to quit a job, to start a new business, to embark on an adventure.  Loving your money respectfully will help you treat it well and help it grow - and by growing, and make smart choices in how and where you spend it, will allow you to go on great journeys.

Check out more Love Your Money advice at GirlMogul.com.

GirlPower Apparel available at GirlMogul.com

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January 24, 2008

A Luxury Once Sampled becomes a Necessity - More Financial Savvy

Free Food for Millionaires - see the WSJ article

Free Food for Millionaires is a  book about an Asian American working class girl who gets herself into Princeton, graduates and finds herself caught up in a lifestyle she can’t afford in Manhattan.  No matter that a Princeton grad should be able to find a good job, it seems that Casey can’t afford to live within her means.  Part of the problem is her associates, free spending investment banking types with trust funds to boot.  Simple, she should get new friends…

 

The book is interesting because it highlights the dilemma many of our daughters have.  They’re well educated, achievement oriented.  But the cost of living is so high, and so many entry level jobs fail to pay what seems to be a livable wage.  In some cases, encouraging our daughters to go for a higher paying career – banker, lawyer, doctor, may seem to be the case.   But even then, for some many girls with expensive tastes and student loan debt, there seems to be a disconnect between what they could afford when supplemented by the Bank of Parents and what they can really afford when they are on there own.

 

Far better to equip girls with the skills for economic defense and the attitude that life is a happy marathon and not a frenetic sprint, and that luxuries are luxuries – pleasures meant to be enjoyed occasionally as opposed to always.

See GirlMogul.com for more encouragement for raising successful girls.  Girl Power Apparel and Accessories.

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January 22, 2008

More Tips for Raising Finacially Savvy Girls

Here's another tip for raising money savvy kids.  This came via a WSJ column.  Offer your kids a dollar ($1.00) if they drink water (tap) instead of ordering a soda at a restaurant.  You'll save a few cents and they'll probably start drinking a whole lot more water.  And it will be healthier all around.

 Have more tips you want to share?  Send them here - andrea@girlmogul.com

Encourage a Succesful girl today - Shop Girl Power Apparel at GirlMogul.com

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December 10, 2007

Lily - Where did all the money go?

So the end of the weekend came and went, and I tried and I really tried not to spend all my money.  But I did and then some.  If $5 hadn’t shown up from Nana, then I’d have been in trouble.   I guess I shouldn’t have gone to the mall, right.  I mean if you’re trying not to spend money, then you shouldn’t go to a place that’s all about getting you to spend more.  Funny how I never noticed it before, but all I could seem to see this weekend were the posters and the flyers and the announcements that seemed to get you to spend $10 instead of the $7 you wanted to in the first place.  Every little place always asked if you wanted to get two instead of one for just a little bit more, or if you wanted the grande size instead of the regular size.  And before you even in know it, the $2.50 is gone, so is the $1 I took from it’s hiding place and promised to use only and only if I really, really needed it., plus the extra $5 nana sent me.
The $8.50 was gone before you knew it.  On headbands (I only meant to buy one, but somehow I wound up with 3 for the price of 2) and a caramel decaf mocha latté.  Grande.  I knew I didn’t need it, any of it, since I have like 20 headbands already
Arggh…
So a full accounting:
In
  Out
What I Spent it On
 $   10.00
 
 Allowance
 
 $    1.00
Savings
 
 $    1.75
pens and pencils
 
 $    3.25
hot chocolate and a cookie
 
 $    1.00
Donation
 $    5.00
 
Gift From Nana
 
 $    8.00
3 headbands and a latte
 $   15.00
 $   15.00
Total In/Out
 Total left over:  
 $        -  
That’s  0 a big, fat 0
Ouch – guess I didn’t do such a good job.  I spend everything I had more.  And I feel bad for even getting the dollar out if it’s super secret safe hiding place.  Guess I need a better hiding place…
Abby and Dr. Smith say I shouldn’t give up.  They said to try maybe just putting .50 cents in my super safe box and see if that makes it easier to forget about it at first.  And Abby said that maybe I should go to the library more, since it’s free, instead of the mall, where I may be tempted.

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December 07, 2007

Day Four - Tracking Expenses

Well it’s almost Friday and I only spent a dollar yesterday. I am not sure where or how, because I forgot to bring my notebook down, but I think I dropped it in one of those collection buckets for the holidays.  I know it’s for a good cause, but I am upset I can’t remember where it went.  And, maybe, just maybe I also bought myself a candy bar…
So technically I have $2.50 left. For the weekend.  Plus that extra dollar I hid away and said I would never, never ever touch….
I can feel it calling to me, in that little box up in the closet, but I suppose at this point, another $1 wouldn’t make that much difference, and I am better off leaving it there, right?
Check out GirlMogul.com for more about us, the GirlMoguls.
See ya,
Lils

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December 05, 2007

Lily's Day 4 of Where does my Allowance go?

So today, I managed not to spend any of my money after all.  It helped maybe that I left it at home so I wasn’t tempted by anything.  Well I was.  There was a magazine I really wanted because it had a story about Hannah Montana on it.  But Daisy made fun of me, so I didn’t get it.   The Rose pointed out that I could probably go to the library to get it.  Well, it wasn’t there but one of my other favorites was, so I found out something.  You can take all but the current issues home with you.  I wound up taking like 7 different ones home, even ones I had never thought about before, including one about personal finance and starting your own business.  I thought it would be good research.

So today, according to my notebook, I still have $4.50 left for the week…
Check out GirlMogul.com for more about us, the GirlMoguls.
See ya,
Lils

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December 04, 2007

Day 2 of Lily's Money Slim Down

Lily’s Third

 

Ok, so I have been using my little notebook.  So far I put $1 or 10% of my allowance in a safe place.  Then I spent $1.75 at the school store.  Today I spent $3.25 on a cup of hot chocolate at the coffee shop after school.  I stopped there on my way to the library.  Rose said that I didn’t really need it, because there’s always hot chocolate that Abby makes.  But this one has whipped cream and sprinkles on it.  Of course, it was gone like that!

 

So far, $4.50.  That’s half my money!  And the week isn’t even half over.  Hmm, this little notebook is a really a good idea. 

 It's amazing how fast your money can go.

 

Check out GirlMogul.com for more about us, the GirlMoguls.

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December 03, 2007

Money Tips for the Junior Set

So I have been doing so much searching on the internet for MoneyGirl section of our GirlMoguls power site.   I listed a bunch of links I found in my last post, but now, instead of just searching for links, I am trying to take all the information and make sense of it.  Rose says that if you just jave all of these facts floating around but you never know how they fit together, then you might as well not have the facts at all.  
So my first idea was about an allowance.  I get one every week and sure enough by Wednesday it’s gone.  And I am always begging my mother for some more money.  She keeps saying things like “Money doesn’t grow on trees” or “I’m not made of money.”   Sometimes I get more money and sometimes I don’t.
So I thought it would be great if I could get through a whole week and still have money left over.  I also thought it would be nice to know where all my money went.    So here’s what I learned:
Tip 1: Pay yourself first.  I took 10% of my allowance (that $1) and put it aside.  I hid it in my closet in a special shoebox.  (I figure I can tell you since you won’t be coming to Riverton anytime soon.). I am supposed to do this every week and never ever, ever touch this money, so it can grow and grow and grow.  
Tip 2: I got a little notebook (I was going to buy one, but then I found an old one I had lying around that I didn’t even know about).   I use the little notebook to write down everything I spend.  At the end of the week, I’ll had it all up and see how much I spent and what I spent it on.
Monday - $1.75  at the school store (cute pencils and pens).
More tomorrow.
Check out GirlMogul.com for more about us, the GirlMoguls.

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November 29, 2007

MoneyGirl - Check out these great sites

Hi, everyone, it’s me Lily Again.  I just wanted let you know I have been doing research in my role as the Money Chick.  I found some great sites and books to help you find out more about how to save money, manage your allowance and even start a business.  I am just brimming with great ideas that I am going to go share with the other GirlMoguls, but I wanted to put this post up right away.

Send me a comment if you have any questions, or if you know of another site I should feature.  T

 

This list is also here on the GirlMoguls’ Community Page.

 

Cheerio!

 

Lils

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November 27, 2007

Meet Lily -- GilrMogul's Money Chick

Lily
Hi, my name is Lily.  I live in suburb of Carson City with my Mom who is a real estate agent and my Dad who works at a bank.  He travels a lot for work, so during the week, it’s mostly me and my mom.  And my Auntie who watches me if my mom needs to run out and meet with a client.  I’m 11 and I go to the Carson Heights School.  Mostly I like school.  I like Math better than history or reading, but every subject is ok.  Sometimes I just don’t understand what all these stuff in books has to do with everyday life.
I mean my mom loves to read, but I don’t see her reading textbooks.  My mom says I have to do well in school so I can go on and be something someday. Not sure I get what being something.  I mean what do I want to be?  
Abby says not to worry, that I will figure it out, and that being a GirlMogul will help me figure it out.

Stayed tuned.  Abby says I am going to have some homework to write more about. She says it will be fun and I will like it.  Ha – we will see. I am going to go read a magazine.

Check out GirlMogul.com for more about us.

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