Scott Pape shares his Barefoot Kids tips on how to shop and spend wisely

Scott Pape says children who shop and spend wisely can save more than just money. The final instalment in the Barefoot Kids summer challenge series shows you how.

Welcome back to the final Barefoot Kids Summer holiday challenge. Just wait until it’s time to do news at school – the kids in your class aren’t going to believe what you can do.

This is going to be really special because after three weeks of working, and starting your own business, it’s time to get what you really want.

Let’s celebrate.

On your marks.

This is the step where all your hard work pays off.

WOO HOO!

First, you’re going to dream up one big goal … something you really want:

A bike? A boat? A puppy?

Whatever you decide on (and I’ve got loads of ideas to help you decide), I’ll show you how you can turbocharge your savings and reach your goal quicker than you ever thought possible!

Did you know around the world companies spend about $1 trillion each year on marketing and ads (and social media influencers!) that try to convince you to buy their brand new stuff.

One trillion dollars equals $1,000,000,000,000.

We’re constantly bombarded with their ads telling us we must have the newest, the latest, the greatest thing.

But guess what? You don’t actually need all this new stuff.

Now guess how much money is spent trying to get you to buy something second-hand?

$0.

Scott Pape share tips for buying bargains in his final summer holiday special. Picture: David Geraghty

And there’s one more very, very important reason you should buy stuff that’s as good as new:

Buying something second-hand and using it again is awesome for the environment. Less stuff needs to get made. Less pointless packaging. Less stuff thrown out, rotting in a rubbish tip.

Okay, Let’s say you put $5 in your SAVE bucket every week.

(Remember, every money bucket gets some money every payday.)

Let’s look at how many weeks it will take you to save, depending on whether you buy new or second-hand.

Here are things to think about.

First, the only real difference between new and second-hand is the packaging. Think about it — as soon as you buy something it’s already second-hand!

Second, with your Barefoot Boss business set up, you’ll be able to save for stuff much quicker.

Kids’ Q&A

Where do you buy good-as-new stuff?

Talk to your parents to see if they’ll let you check out Facebook Marketplace, Gumtree or eBay (in most cases you’ll need them to register for an account). Otherwise, going to an op-shop or a local garage sale is a great way to go on a mystery shopping tour where you’ll find hidden gems at very, very low prices.

I can’t find what I really want second-hand.

That’s okay!

You don’t need to buy everything good as new, and sometimes finding exactly what you want can be hard. So, when that happens, google to find the cheapest price you can. Don’t forget to add in the cost of shipping (which can add to the cost of buying stuff online).

I can’t find anything to sell.

Did you know that the average 10-year-old kid has 238 toys … but only plays with 12?

(That’s what a survey of British kids found, but I think it’s pretty accurate for Australia as well.)

My advice?

Stop thinking about what you’re giving up (the stuff in your cupboard gathering dust!) and start thinking about the things you really want.

Good as new list.

For the cost of buying a new bike, you could have EVERYTHING on the good as new list and still have $120 left over. Now let’s find that ONE THING you really want.

There are lots of ideas on the graphic below to get you started and maybe you can come up with some of your own. Now I want you to identify the one thing you would really like (and that your parents approve of). Then I’ll show you how to get it quicker than you ever thought possible.

Barefoot’s Top 5 Tips

● Be an online shopping superstar

● Do your research

● Always offer a lower price

● If you have to, buy it new

● Search for the discount code

Can you find something you really want?

We’ve been talking about buying things cheaply.

Now we are going to talk about selling things to get some quick cash. Let’s say you’ve decided your savings goal is to buy a bike.

A new bike costs $300, and it could take you well over a year to save up for it.

Here’s what you do. Start searching online and find the same bike as good as new for $50, listed on an online marketplace. You might find one at a garage sale or an op-shop. $50 … this means you’ll be able to buy the bike in the next few months – not next year!

Awesome, right?

Sure, but I want you to buy it even faster.

I want you to have a good look at all the stuff in the room you’re in. The average family has

Scott Pape’s new book.

$5400 worth of stuff just lying around their house, stuff they no longer use (according to figures from Gumtree). And in the next five minutes you’re going to turn some of that stuff into treasure by selling it. Then you’ll use the money you get to buy what you really want.

Ready? This is the ultimate treasure hunt!

I don’t want this to be a drag. It can’t be boring. It needs to be done quickly.

So, first, set an alarm for five minutes. With the clock ticking, I want you to go on a treasure hunt around your house. You’re searching for two or three things you no longer use. Place whatever unused treasure you’ve found on the kitchen table.

Then ask your parents for permission to sell this stuff. They are in control, so what they say goes (and if you haven’t found anything, you could ask for their suggestions).

Next, it’s time to do some research. Grab an iPad or your parent’s phone. You’re looking for two prices:

First, how much the item you’re selling costs brand new. Type it into Google and hit the shopping icon. Second, how much the item is selling for second-hand on Gumtree.

WARNING: You’ll be shocked at how much the price drops.

Yet that’s a good thing! Because you’re going to be both selling and buying stuff.

Once you see for yourself how much the price drops straight after you buy it, you will never again be sucked into advertising that tries to make you spend all your hard-earned cash on new stuff.

Bottom line: nearly everything you want is right now sitting in someone else’s house gathering dust.

Santa must be sweating right now (and not just because he’s carrying a few kilos).

You’re one of the very few kids who’s worked out how to get what you want!

Plus, you’ve done something awesome for the environment … twice!

Message from a happy mum

Dear Scott,

The book arrived last night around 8pm and I handed it over to my 11-year-old son, Angus. I gave a little speech. Well, the response was impressive for a boy who doesn’t want to go to school and sees it as a waste of his time. Before breakfast, he had already decided on two business ideas of picking and selling lemons and mowing lawns. His demeanour changed – you could literally see ‘INSPIRATION’ oozing from him, and happiness. With your book in hand, he went off to school happily this morning. Who knows what this boy may achieve, and the thousands of other children who are inspired to “do”, learn and grow because you inspired them.

Thank you,

Tanya, a very happy mum

Angus is on his way to becoming a Barefoot Kid

Meet some Barefoot Kids

Cody, Ashton and Annie-Maree:

The biggest thing we’ve bought is a caravan. And it wasn’t even for us, it was for our chickens! You may be wondering why chickens need a caravan. It’s not for going on holidays, it’s for making sure they have somewhere safe and warm to nest and lay their eggs. We pooled our money and it still took us four very long years of saving. We bought it second-hand on Gumtree for $9000 and spent another $2000 renovating it. It’s already paid off. Not only have we saved at least $20,000, it’s worth more than we paid for it because we gave it a bit of tender loving care and some elbow grease!

Cody, Ashton and Annie-Maree bought a caravan for their chickens.

You’re back at school and you’re standing up in front of your class. Everybody is watching and waiting. Your teacher asks you to give a talk on what you got up to these school holidays. You nervously clear your throat and say …

“I got a job, well three of them actually! And I started saving some money. And I started my own business and now I can save up for whatever I want. And I did it all in four weeks!”

You got this!

A NOTE TO PARENTS AND GRANDPARENTS …

The truth is that sometimes pocket money works a little too well: kids can get so addicted to watching the coins pile up in their jars that they don’t want to spend it.

“Little Mickey is such a good little saver; he won’t spend his money on anything!” brag his proud parents.

Twenty years later …

“Michael is such a miserable tight-arse! He won’t spend money on anything or anyone. No wonder he can’t get a girlfriend,” snivels his frustrated friend.

You don’t want your kids to grow up with an unhealthy obsession with money.

Neither do you want your kids to grow up like one of those twatty teenagers on Instagram who posts a selfie with their $900 handbag (#myparentsfailed).

No, your kids are going to be well-adjusted, savvy spenders.

Look, I don’t know how long it’ll be before you find yourself at your front door saying goodbye to your kids as they head out into the big wide world.

But what I do know is that it’ll happen a lot quicker than you think.

One moment you’re changing their nappies … the next they’re changing yours.

So, the ultimate question is this:

Will you do enough in the short time you have to prepare your kids?

And, will your kids leave you with the financial confidence and the street smarts to seize the opportunities the world has to offer them? Have you ever wondered what really makes the difference — why some kids fly and others seem to flail? Is it having wealthy, educated, upper-middle-class parents?

Is it attending a $35,000-a-year private school you mortgaged your kidney to get them into?

Is it receiving a big-arse cheque at their 21st for a deposit on their first home?

Is it scoring top marks at school and getting into a trophy degree?

I’m here to tell you that it’s none of these things.

Besides, you and I both know people who’ve had all these blessings in life but have still turned out like Paris Hilton. So, what does make the difference?

You do.

Originally published as Scott Pape shares his Barefoot Kids tips on how to shop and spend wisely