“I just negotiated to reduce my bill by US$20!” shouted Gayan excitedly.

Her smile shone brightly not just because of the rows of metal on her teeth, but also from her pleasure in successfully making a deal to save money. I looked up in amusement, wondering what on earth a 14-year-old kid knew about the art of negotiation.

I turned to her mother, Andrea Reid-Davis and asked her what kind of negotiations her daughter was involved in. She noted that Gayan had just bargained with the orthodontist’s assistant to cut her bill for fixing her damaged braces.

Reid-Davis explained that because Gayan kept eating the wrong foods, she would regularly break the bands on her braces. To ensure that Gayan realized the consequences and costs of her actions, the smart mother decided to have Gayan pay the bills from her savings. Continue reading Raising Money-Smart Children →