I haven't really spent very much money at all. Under 1000 Canadian on everyone else. A few hundred dollars worth of dental work and a couple of hundred to extract her from the home where she wasn't being paid. Then I paid for a place that I will stay in. So not a big deal. I spent close to $15,000 on my Kenyan Odyssey. But the real Odyssey was the trip home. 66 hours, most of it without sleep.
I have a simple rule that I won't waiver from. No money spent on anyone outside of the immediate family, other than maybe the occasional Street meal. I'm not going to buy anything for anyone and I won't give anyone money. I have bought a few things for her immediate family for Christmas. Three tablet computers for the three who are going back to school. 4 power banks for the various cell phones. A total of just under $400 Canadian. And I might spend $500 on the house. If all goes as I hope, I expect to spend six to eight thousand per year for the next two years, until her siblings have finished school. Of course I'm hoping that I can set them up in a little business to supplement this or completely replace it.
The other day she told me about various people including her new landlady who have told her about various business ideas they have that require financing. So I told her that I got started in the demolition business with $100 and it cost me about the same amount when I got started in the scrap metal business years ago. I have tried many things that require no real investment, and I have been able to immediately do well. So I don't buy the whole investment needed thing anyway.
Her landlady is in her fifties and has never accumulated anything, other than an inherited house. Doesn't sound like somebody I would ever invest in. If a person hasn't done something by the time they are in their thirties, I put that in the negative column.
Her biggest worry seems to be that many people will present ideas and request. I'm always open to ideas, but almost never open my wallet over them. The first thing I would ask of anyone, is which of their other ideas have worked out. If they can't name any, I'm done.
My girl has had some silly ideas of her own. She's suggested entering into many, "me too" businesses. Things that anyone can do, that don't require a specialized skill or resource. Selling street food, selling old clothing and other things that have tons and tons of low-paid competition.
I decided to try soap, because it's not something that any of them seem to know about and it requires some knowledge and skill in its preparation. So it's not quite the same "me too" business as selling Street Food. I had a friend here in Victoria who invested in a coffee shop, where there were plenty of Starbucks and McDonald's. I suggested that they go to a small town or just somewhere where they wouldn't be crushed. Instead, a long-term lease was entered into and they spent five years working for a landlord. So, whenever I have an idea, I run it through the me too lens. My thing where I chop buildings in half and get them ready to be moved on trucks, is far from that sort of business. Most people would go horribly wrong, so I don't have a bunch of low paid competition. I talked with the family about this briefly, and really tried to stress the need to enter into things that aren't absolutely flooded.