Many kids (for the sake of this article, we’re considering ‘kids’ anyone in the 7 to 14 range) like the idea of making their own money. They’ve been taught or have figured out that making money is how you can have the material possessions you want, so they set out to make some themselves. Since young kids can’t legally get a job, they must think of other ways to get paid. Here are a few classic methods that are still relevant today.
Yes, the good old-fashioned allowance is still a good way for kids to make some money. Get a list of chores to do, perform those chores well and get financially compensated when it’s over. The weekly allowance seems to work well to keep kids moving.
Doing odd jobs around the neighbourhood is another way kids can earn some money. People always need their lawn mowed, car washed, driveway shoveled or garden weeded and many of them are willing to pay for it. If kids can establish a regular routine with a handful of neighbours, it equals regular income.
Once a kid is old enough and has the necessary certificate or license, babysitting is always an option. More girls than boys seem to find this option attractive for making money, but it’s available to either one.
Pet sitting is another option, as long as you’re ok with them having someone else’s pet in the house. If it isn’t full pet sitting, friends or neighbours might pay them to go to their house and feed their pets while they are at work or away.
If your child does particularly well in a certain school subject, she may want to offer tutoring services to younger kids or kids that are having trouble.
Selling stuff was a hallmark of many childhood money-making plans, and it’s still possible today. From the basic lemonade stand to having mini-yard sales with donated items from around the neighbourhood, selling never goes out of style.
Keep in mind that once kids start making their own money, it’s wise to start teaching them about saving it and using it responsibly. Naturally, there’s going to be some frivilous spending along the way. You don’t have to try and raise a little banker when they’re 10 years old! Just introduce the concepts of saving and show them how it doesn’t have to be spent just because they have it.