The parents of a nine-year-old boy, who already runs his own business and has already started saving to buy his own home one day, have revealed how he started saving
A couple has revealed that their nine-year-old son has already started saving to buy a house.
Not only is he saving for a house of his own, but Tommy Climmo, from Devon, has also plotted out his path to wealth as an adult. The entrepreneurial youngster chops up wood, bags it up, and sells it as kindling for a profit, and has even taken on his first employee.
While his small business has taken off, Tommy plans to upscale to a hotel refurbishment business. According to his parents, the smart-thinking little boy first shared his dream of refurbishing hotels when he was six.
After building up his kindling business, Tommy has now launched his own company, T C Deals Direct. To fulfil his orders he uses scrap wood left over from his dad Dan’s waste management company, and sells around 80 bags of kindling each month.
The savvy kid advertises his kindling business on a Facebook page that’s overseen by his parents, often sharing deals to the account in a bid to attract more customers. Tommy has even taken his younger brother on as his first employee, and uses him to help bag up the wood once it’s been chopped.
Proud dad Dan said that he’s always brought his children up to have a good understanding of how businesses work. However, he added that he never thought one of his children would be running a company at such a young age.
Talking to DevonLive, Dan said: “He came to use several years ago and said ‘when I’m older, I’m going to buy hotels, do them up and sell them on’. We just looked at each other and thought ‘where on Earth is this coming from?’”
He explained that, regardless of his young age, Tommy is already saving up to buy a house in the future. He also added that the business-focused kid is also constantly thinking about new ways of expanding his small business.
Dan said: “He’s constantly thinking about how he can make money, which I think is brilliant.” He added that Tommy and his siblings have been home schooled since the Covid pandemic, with both of their parents encouraging the children to learn as many practical skills as possible.