Earning Money as Kids
In contemporary society, nearly everything has a monetary value. Children do well when they are taught the importance of not only how to spend responsibly, but how to earn well. A fun and easy way to do that is to pay your children to do jobs around the house. This could be in the form of an allowance or a one off payment for a specific task. I encourage the latter because it allows kids to do the math and decide how many tasks they want to complete based on how much they want to make. This gives them freedom, while at same time teaches them about responsibility. Of course you can always have a set amount of “free” tasks if you don’t agree with paying your children for helping out with common household duties. You can go a step further and only pay them more or less than the agreed amount, depending on the quality of their work. This instils a good work ethic.
As your kids get older, teaching them about the various ways they can earn money will help ensure that they choose wisely form the different options they have, as well as give them the tools to create their own opportunities. Earning money from running a business or investing are other principles to teach in their simplest form. Being entrepreneurial or making things to sell even if it is at a school fair or fete, teaches kids about what people are willing to buy, and can help them understand the basics of cost and profit. If your child can make cakes and sell them at a cake stall – this experience is fantastic. Knowing how many likely cake buyers will be at this event, and how much they are willing to pay is a part of the trial and error, and will help with future endeavours. If you can help your child calculate the cost of ingredients, as well as discuss the cost of their labour, this will add to their understanding of profit. Other ways for kids to earn money include selling on eBay or Gumtree. They can sell things that they no longer need or want such as toys, books, and cloths. Upcycle (fix and recreate) something they have like a bookshelf, dolls house, ride-on car, are examples of adding some fun and other skills into the mix of things to sell. Renting out something for a fixed amount of time is another great example. If they have a skill they are particularly good at like doing hair, kicking goals, or teaching math, others may pay for. With the rise of the Internet, there are also many ways to make money online. This may not be appropriate for your child, but if they like the camera putting videos on YouTube of dance moves, un-boxing toys and doing cool skateboard tricks is another form.
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