Monday, August 31, 2009

Overheard in the kitchen: the birth of a loan shark

Saturday night, OhCountess was getting ready to go out for a night on the town with the girls from work. She checked her wallet and figured she was a few bucks short.

OhPrincess1 is saving her pennies like a Midas in an effort to buy a Nintendo DSi and earlier in the day had counted up the stash and found out she'd made her goal.

This seemed to create a match made in heaven. OhCountess was in a bit of a hurry and really didn't want to drive out of her way to hit an ATM for our bank and OhPrincess1 has a readily available pile of cash.

OhCountess, "OhPrincess1, do you think you could lend me $10 until tomorrow?"

"Sure Mom but I don't think I should just give it to you. I think you should have to pay me back a little more then you borrowed, pay me $11 in the morning?" said OhPrincess1.

"Honey, that's called interest," replied OhCountess, "and that's like 2,000%. That's pretty high, how about I pay 25¢."

"OK, I'll give you the money in ones and you pay me back in a ten dollar bill and a quarter. Deal?"

Mom laughs and agrees.

You just gotta love it when a 10 year old figures out complex banking concepts and negotiates usury rates on a short term loan.

7 comments:

WeaselMomma said...

She's going to grow up to be quite the little Shylock. Charging interest to family, that's bad.

Sean D said...

Now that's some quick $ for her.

I wonder if she's been chatting with Waffles!

terri said...

That child is destined for success!

surprised mom said...

Wow! And she's only 10? I think I'd be afraid to meet her as an adult. If she grows up to be a loan shark, she'll be terrifying. She is a sharp cookie. You must be so proud.

Pwn Star said...

I hope next time she'll negotiate up to 50 cents.

:o)

Dawn Summers said...

hahah Dude that is AWESOME!!! All little girls should know about vig at this age.

OhCaptain said...

WeaselMomma: I was just impressed she thought of it. I'd prefer she spends the rest of her life loaning money rather then borrowing it.

Sean: I'm guessing she could negotiate Waffles out of his wallet.

Terri: We have hope :)

Surprised Mom: We are very proud :)

Pwn Star: I think I need to teach her a little about closing the deal, but my guess was this was the most she was getting out of mom.

Dawn: hide your wallet when she's near. She's got skilz.