The best way to teach your kids about money is to teach them how to earn it themselves. An allowance only goes so far these days, and supplementing an allowance with money they have worked for helps kids to appreciate it more too. Here are some ideas on how kids can make money, even at a young age, to teach them the value of money and understand how to handle it. Younger kids will have to be supervised and helped with their jobs at home for a while, but older kids and teens can venture into a variety of different jobs to earn more money. When children are small, the easiest way to help them earn is to 'pay' them to perform chores around the house. These should not be personal responsibilities like making their bed or tidying their room, but rather helping with family chores that benefit all. At first, they will only be able to help you, the adults, but as they grow they can do more by themselves. Car washing, raking up leaves in the garden, setting the table and bathing the dogs are all tasks that children can perform with help and supervision. Neighbors can be a great source of income for kids. Washing cars, windows and patio floors, walking the dogs, carrying the groceries in from the car and gardening jobs can help the neighbors and provide an income for kids. Make stuff: If your child has artistic talent or enjoys making things, encourage them to start a market stall and sell their arts and crafts. Encourage them to think of useful things to make, and help them work out pricing by factoring the cost of materials and their labor into the selling price. Coaching: If your teenager is a math whiz, or acing English, they may be able to help kids in junior school with their studies. If your teen is great at sport, encourage him to approach junior schools and sports clubs in the area for coaching jobs. The internet offers a variety of methods to earn cash online, regardless of age. Do some research with your kids and let them explore the options. Some kids of 14 are earning a healthy passive income from internet and affiliate marketing. These are just a few money making ideas for kids. Once you've worked out how kids can make money, you'll need to teach them how to spend it wisely too. A good adage is to spend a little, save a little, and give a little away. Opening a bank account for your child helps them save while teaching them how banking works, and they'll be so proud of themselves when they save enough to buy that special something they've always wanted! Kids making money need to learn these lessons in how to use their money too. We live in a world where money and how you look after it makes a big difference in how we live. You don't want children who are slaves to money, but you do want them to work for their money, and use it wisely once they've earned it. Derrick Janson is an expert in Teaching Kids About Money. He has taught about how kids can make money topics, allowances, budgeting and saving money for kids. Derrick Janson is an expert in Teaching Kids About Money. He has taught about how kids can make money topics, allowances, budgeting and saving money for kids.
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