Teaching Your Kids

Soon enough, your kids will be out in the real world needing to provide for themselves. As parents, you can help your kids get a head start by encouraging them to find ways to make money. Most kids have things they want to buy. By helping them find ways to make their own money, they can have great satisfaction in buying their wants with their hard earned money.

Kids can make extra money in a variety of ways, and most of those ways will fall into two main categories. They can either work for someone else or they can learn how to be in business for themselves. Usually kids that learn how to start little businesses end up with a lot more professional confidence when they're older.

If your children want to run their own business, you can really do a lot to help them out. You should probably offer to give them a small loan to help them get started. Giving them a grant instead of a loan can cripple their understanding of how the real world works - they should understand that money needs to be paid back and isn't free.

Another alternative to a lemonade stand is to have your child bake something to sell to neighbors. As a kid, I used to take orders from my neighbors on who wanted a loaf of homemade honey whole wheat bread. I could then deliver the bread warm knowing exactly who was buying. Your child could do this with any baked good. It may also be safer if you know and trust specific neighbors or friends who will be buying the goods.

Many children aren't ready to handle being in business for themselves until after they have worked for someone else. Companies will hire kids and teens to do a lot of different things including sealing envelopes and washing cars. People will also often hire kids to walk their dogs and to do yard work.

Many people hire kids to help around the house. Cleaning is something that many kids enjoy and if they are paid to do it, they will absolutely love it. Knowing that they will be able to buy things they want can provide a lot of extra motivation for kids.