Money Management

How Kids Can Make Money

Some great ideas on how kids can make money. This video is the forth in this video series (Kids and Money).

Marquertia Cheng shares with you tips on how kids can make money and learn how to manage their money .

Here are her tips:

Earn money through chores and allowances. You decide as a family whether you are going to give your kids allowances everyday or weekly which they have to manage or they will earn their keep by doing chores around the house.

Don't just give your kids some money whenever they ask. Instead, try to calculate how much they are most likely going to spend and just give that amount so they will learn to budget and wouldn't think that money comes easy and is unlimited. Suggest to them systems of how they can manage their money.
Get a job or start a small business. You can let your kids start with summer jobs. This will help them to learn how to look for a job, get along with co-workers, and work hard to keep the job and earn some money.

You can also help them to start a small business like setting up a lemonade stand outside your house or make crafts and sell them at local fairs.

More Tips on How Kids Can Make Money

How about these ideas:

Pet sitting or Lawn Mowing
Running errands for neighbors
Washing cars or garages
Be a mothers helper
Start a Neighborhood Newsletter and sell advertising

You can find more ideas for Kids that may be appropriate for your kids on this page - How Can Young Teens Make Money.

Make sure you teach your kids how to manage their money once they have made it! Teach them how to make a budgett page, or check out YNAB . It's a great software program to show older kids how to learn how to budget and to track your spending.