April 3, 2019 | Tips, Tricks and Member Safety. Share this article:
Encouraging Kids to Earn and Manage Their Own Money
The best way to teach children financial responsibility is by encouraging them to earn and manage money on their own. As the weather warms and summer nears, there are many opportunities for your kids to pull in some extra cash.
In honor of Youth Savings Month, let’s take a look at 9 easy ways your kids can earn money.
- A lemonade stand
It may be old-fashioned, but kids can bring in good money by selling America’s favorite hot-weather drink. For optimal exposure, let them set up near a local yard sale or another neighborhood event.
- Help a senior
Your pre-teen can be a huge help to a local senior while earning money on the side. Let your child run some errands, take out the trash, clean the litter box or just chat with a lonely senior.
- Hold a yard sale
Spring-cleaning season is the perfect time to host a yard sale. Let your kids be in charge by having them choose the items to feature, set prices and run it. You’ll want to be available to oversee things, but let them make most decisions on their own.
- Do yard work
If your children are old enough to handle a gas-powered mower and can be relied upon to trim shrubs and weed gardens, let them offer yard work as a service.
- Help with pets
Let your kids walk dogs around the neighborhood and offer to pet-sit. If your child is truly a budding entrepreneur and has the skills, they can set up a pet-grooming station out in the yard.
- Be junior tech-support
Generation Z kids are practically born holding smartphones. Let your kids use those skills to help older folks who may not be as tech-savvy. They can offer to organize digital photos, assist with data entry or help set up a Facebook page.
- Help a mom
Your child may be too young to babysit alone, but he can offer services in assisting a neighborhood mom while she’s at home.
- Collect recyclables
Help your child gather empty bottles, cans, cardboard boxes and newspapers to bring to a recycling plant. You’ll be keeping the planet green and helping your child earn pocket money at the same time.
- Wash cars
Let your child try out her car-washing skills on the family car. Once she’s got the technique down, have her offer car washing services to the neighborhood. Your neighbors will cross another weekend chore off their list and your child will be learning that hard work can pay off.