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Lemons to lemonade feature #14: Lori Mackey

Sunday, November 30, 2008
I am particularly fond of this story since I am a firm believer about teaching children of all ages, the younger the better, about financial literacy. Lori Mackey, founder of Prosperity4Kids, Inc believes that our current economy is a perfect excuse to start teaching children and parents about money.

Prosperity4Kids was established in 2003. Lori, mother of two, has created kid-friendly products that teach financial responsibility. The products are fun, engaging and effective; as well as age and skill appropriate. All of their products have companion books containing educational curricula for parents, teachers and children and reflect a teaching style designed to capture the attention and imagination of children. Lori has also partnered with ING DIRECT to spread the word about saving and creating secure financial futures for kids and their parents.

Lori is the award-winning author of Money Mama & The Three Little Pigs, and creator of Money Mama the Smarter Piggy Bank. Her website is also chocked full of articles, which have been featured in many family and parenting magazines and on websites, and other resources for helping kids learn about money. Here is her story...

How has this economy affected you, your business and your family?
My sales have been slower, but my emails and questions have increased. My family is fine due to the fact that for the last several years we have cut down and simplified our life.

How are you making lemonade from lemons?
I teach financial literacy to children and I have seen this coming for many years. Now adults will have the perfect excuse to start educating their children and themselves in financial literacy and understand that this is a cycle like many other cycles our world has gone through in the past.

The media is creating so much fear in people; the media is not in the feel good business, and we must remember that, and look for facts over opinions. But as a business owner we can be in the feel good business! What our customers really want is the reassurance that everything is going to be OK! What our customers want is hope. You can reconnect with your customers and let them know that they can trust and believe in the services that you provide.

I am offering more consulting and giving more time and creating value in what I offer, in return I make more sales. If you run your business with integrity, value and passion, you will prevail through these tough times.

Any encouraging words you would like to offer mom entrepreneurs?
I see these times as a great opportunity to reconnect with family and reflect on what is truly important, and for many families to get back to a simple more conservative place in their life.

I see this as a bump in the road, but I see it as a positive situation in a way that will change how our banking and financial institutions are allowed to take advantage of people. I also see a change in the way people will respond to the banking institutions. People will start to question authority and read between the lines. They will read the fine print and make sure they are doing what is in the best interest of themselves and their families.

As many have written it is the small business and entrepreneurs that will bring our country out of the mess big business have put us in. Stay strong, positive and on target and run your business with integrity, live within your means, save and spend wisely.

For more information, visit and look for The Smarter Way to Pay an Allowance, 7 Secrets to Raising a Money Smart Kids and the Eight Common Mistakes Parents Make with Kids and Money.