Understanding the value of money from a young age is a huge asset. It helps children realize the value money has and the necessity of managing it well. It doesn’t take much actual money to teach a lesson in money making and money management. Below we’ve compiled ideas listing how to make money as a kid.
Simple Ideas on How to Make Money as A Kid
1. Lemonade Stand
The traditional way of earning money as a kid is by working at a lemonade stand. This is popular during the summer and a great way to build kids’ entrepreneurial spirit. While this is a great money-making activity for smaller kids, it is also a smart way of teaching them the value of money, how to earn it, and how to become independent.
2. Bake Sale
Taking the time to produce a product and sell it is a great lesson for any kid. Unlike the lemonade stand, which has minimal ingredients and start-up costs, a bake sale will have multiple expenses for a single pastry — and you’ll likely have more than one. Write out a budget, look at money spent compared to money earned, and teach your kid about the concept of overall profit. Did they make more than they spent? Did they make enough to feel that their time was well utilized? Answering these questions can help them to realize the importance of having a well-paying job in the future and how to manage the money they earn and the time they have.
3. Hold a Garage Sale
Once or twice a year, clean up your closet and gather the unused or unwanted clothes and toys and hold a garage sale. Another fun way to sell your items without the hassle of setting up a garage sale at your home is by selling them online. You can create an account on eBay or simply visit the different yard sale pages on Facebook. The online aspect of this type of sale can help them to understand that, in a digital world, a ton of buying and selling happens over the Internet. This may be a great lesson as it jumps from selling brownies to your community (our previous example) to selling something to someone anywhere in the world.
**Note: This also promotes another learning experience as shipping, going to the post office, and other transportation factors will be included in the overall expenses.
4. Wash Cars
Ask your family friends and hold a neighborhood car wash for the community. Instead of playing video games with them during the weekends or summertime, why not urge them to earn money with you? By doing this, you reinforce the idea that money can be made in a variety of ways. It also doesn’t hurt to teach them the value of a hard day’s work doing something that requires manual labor. Whether that is or isn’t what they want to do in the future, it provides an opportunity to understand, even at a basic level, what that choice means.
5. Gather Recycled Items
Recycle cans and bottles at home or ask your neighbors to save them for you. You can sell them at the recycling plants near your area. Simply search the Internet where you can find a plant and learn how much you can earn per pound of recycled items. By doing this, not only do you get to make money but also you help to save the environment.
6. Offer Pet Care Services
If your child is an animal lover, you can go around your neighborhood and ask your neighbors if they need pet care services. You can offer to walk their dogs, feed and play with them, or wash their pets while they are away. You can make this as professional as you want by creating flyers or business cards to pass out. This is just the tip of the iceberg, but by doing this, you’re teaching your child how to market themselves which is a useful skill later in life.
7. Neighborhood Services
Depending on their age, a kid can also offer different services to your neighbors such as gardening, running errands, or simply helping the elderly. They can mow lawns during the summer to make the days productive or rake leaves during the fall season and shovel snow in the winter. Some neighbors also hire kids to house sit for them while they are away on a trip. You can do simple tasks like watering the plants, tidying up their home, or checking their mail. This can teach good management skills when looking after someone else’s interests.
8. Babysit Smaller Children
When your child is old enough to take care of babies, they can offer babysitting services to your neighbors. Take some classes on childcare training with your own child by signing up for one of the Red Cross’s babysitting classes. Taking a class that directly helps teach something that will earn them money is a great lesson for any child.
Making money as a kid is easier than you think. Kids have a lot of options, from the traditional kids business ideas to online money-making activities. These ideas are great ways to introduce them to money making and money management. Additionally, it can help them develop their skills and get them thinking about what they want to do when they grow up.
Do you have any other ideas on how to make money as a kid? Share your thoughts with us in the comments section below.