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Kids Making Money

An Educational Perspective
By Marc Brown

Money management is an indispensable part of oneís financial education. It is that art, which you need to hone early in life so you can tread on to a secured future with ease. Most of the parents these days try instilling money management skills in their kids and help them become financially responsible at a tender age. Are you one of those concerned parents keen on honing your kidsí financial bent of mind? If yes, then you can start by guiding your kids about how to make money. The best possible way to make your kids realize the importance of money is to make them spend their own hard earned money. And it will automatically inculcate wise money management skills in your kids. So, letís have a look at some interesting money making strategies that kids can adopt and make a few extra bucks during their leisure time.

Ideas for Children
Usually, kids in the age group of 8-12 years are limited in money-making ways. But their lack of opportunities should in no way dissuade them from earning their income. Here are some easy money making ideas that you can offer to your little ones at home and encourage them:

  • Offer services like mowing lawn, pulling out weeds, mopping house or clean their windows / car.
  • Organizing a sale of their old toys including old cars, dolls, doll accessories or super-hero toys etc.
  • They could prepare gallons of lemonade or ice tea or even home-made soft drink and sell them by starting a stall at close to their house.
  • Parents can help them bake some cookies or cakes. And then the kids could put them on sale.
  • They could run errands for their neighbors. All they will have to do make sign post announcing their services and what they would charge.
Ideas for Teens
Teenagers have a plethora of options right in front of them, when it comes to money making. In fact, chosen carefully, the options would fetch them a decent income during their free-time. All they need to do is identify their area of interest, expertise and turn their hobbies into work in order to reap the maximum. Well, here are some interesting money making ideas for the youngsters bordering on adulthood:
  • Tutoring children: For teenagers doing well at academics, this is a good option to earn money as well as hone their academic skills.
  • Organizing craft sales: Those who are adept at art and craft can try out this one. They can simply prepare their stuff and organize a sale of their crafts. Your kid might be overwhelmed with the compliments and income at the end of the sale.
  • Writing: If your teenage kid has a flair for writing, you can encourage him/her to write editorials, articles or even stories in local newspapers and magazine. Such write-ups can fetch them monetary rewards from time to time.
  • Cooking: Do not under-estimate your kidsí culinary skills. Even that can get them a decent pocket money. They can prepare various delicacies and sell them to the neighbors. And the neighbors in turn can spread the word about their talent to their friends and relatives.
  • Investment: This is a great way to help your kid take the first step towards serious investments. You can encourage them to start investing their savings prudently. But, that will require you to play the key role in advising them on how they should embark on it. You can explain to them how the stock markets works and introduce various financial terminologies like mutual funds, equity etc to them. Wise investment will not only get them profits but also instill in them a liking for investment.
Money making is not all about making money. Instead, it can be a holistic way to shape your childís approach towards handling money altogether. It will not only help them learn wise money management but also polish their social and sometimes technical skills, thereby paving their way to a wise financial career. So, all you smart parents out there, start boosting your kidís inclination towards money making and watch them grow up as responsible individuals.

About Marc Brown
This is a guest post by Marc Brown, the webmaster of Monsterhols, a personal finance search engine. Besides this, he also maintains some financial sites & provides people with unique advise on debt,
money making & saving.

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