Remember the days of the good old lemonade stand? There’s something quaint about the idea now. Times may have changed but it’s still important to teach your kids the value of financial independence and working for things they want but don’t need. Maybe have their eye on a brand new sandpit and you want them to appreciate the effort it takes to get one. Here’s 3 kid-friendly ways to make money.
The pocket money dilemma
As a parent it can be tough deciding between gifting your kids their pocket money and making them earn it. Especially when it comes to household chores. Should you pay them for things they’ll need to do their whole life like cooking and cleaning?
There’s a fine line to be tread between offering pocket money when your kids help around the house and making it seem like every chore is worth being paid for. Julia Hasche, from Single Mother’s Survival Guide, knows this all too well and has found a way to strike a balance.
"It's important to me that my daughter is not financially rewarded for tasks that I want to teach her are a part of life. She helps around the house with age appropriate tasks such as clearing the table and putting her clothes into the washing basket, for free! She's only four but as she gets older I will probably offer to pay her for tasks that I would otherwise pay for anyway such as washing the car."
Hold a bake sale
Much like the lemonade stands of the past, a bake sale is a cute way for kids to get a sense of working for their pocket money while also enjoying the experience. To help them get their bake stand off the ground check out MyDeal furniture for a basic table and chairs you can set up on the front lawn. If you want a busier atmosphere, the street front of your local community centre or a church courtyard are kid-friendly areas you can set up and supervise their stall. Be sure to check if you require a permit before setting up shop. Even if they can’t sell as much as they hope, at least they can eat up all the leftovers!
A local market stall
You might have a market stall on your own to-do list to sell some of your old clothes or furniture. So why not bring your kids in on the action too? Have them pack up a box of old toys and things they no longer use. It’s a good way to declutter the house and you can give them a small share of the profits for items they help sell on the day.
Anything that isn’t sold at the end of the day can always be donated to charity - another great lesson for your kids.
Chores for the neighbourhood
As your kids mature they may be able to start earning some money from others in the community. If you have a good relationship with your neighbours consider letting your child offer them paid help. Simple tasks like dog walking and garden watering a perfect place to start. You could even help them put together a flyer with services offered and price lists.
There’s no right or wrong way to teach your kids the value of money. But helping them to earn their own is a step forward in their maturity. With some simple, age-appropriate tasks you can help them find safe ways to make money.