After Halloween, James (left) has discovered the value of a barter economy. Lucia (right) looks on in awe.
Welcome to the second installment of "Invest with James," in which we learn about money, personal finance, and investing through the budding example of my almost-six-year-old son, James, who loves money and all that is associated with it.
Yesterday was Halloween, a day that is like Christmas, the Fourth of July, Thanksgiving, and Rio Carnival all rolled into one for my children. My daughter, Lucia, plans for Halloween in an elaborate, multi-phased way, months in advance, that culminates in the Big Night.
James had been more of a bystander. But this year, he discovered that there's something of value in Halloween. And that something is called "candy."
Of course, he knew about the candy. But this year, rather than just eat it, he recognized it for the first time as a medium of exchange and an opportunity to create a market. Yes, this was the first year that he sat down with his sister to trade the sugary haul.