Tips To Help Your Kids Make Money On Their Own

List: Posted: 12/10/10

As busy parents, it's easy to hand your children money whenever they ask for it, but is this really best for your kids? Even small children can learn to make money on their own through chores and odd jobs around the neighborhood, and will find a great deal of confidence and a feeling of success as a result. When kids can make their own small income, they’ll learn to manage their finances earlier, too.

Chores are a great way to give your children money without just handing it over to them. Many families use a commission system. Instead of just giving your kids an allowance every week no matter what, make a commission chart. Maybe they get a quarter each time they feed the cat or a dollar each time they clean the litter box. Pay a few more dollars for washing the car or digging the garden. Pay your kids more to do the jobs no one likes at all! This way, you won’t have to give them money for doing nothing. They’ll also know just what they can earn each week when they’re saving up for something special... and you get help with the housework.

Can’t think of enough chores for your kids to do at home? Help them start doing odd jobs around the neighborhood to make more money. Think of the things you did when you were a kid to make extra money. Maybe you had a lemonade stand, raked leaves, mowed lawns, or watched smaller children or pets on the weekends. Your kids can make money doing all these things, too. Start them a savings account or buy them a piggy bank to keep their earnings in, and watch them grow!

Help your kids talk to your neighbors, put out flyers, or think of creative things they can do to make some extra cash. Older children could even help their siblings with their homework or read books to the elderly in your neighborhood to make money. The only limit is their imaginations.

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