It is an important though oft overlooked parental responsibility that children should be taught about the importance of money. Part of this responsibility is teaching children how they can earn the cash they need, as they can’t always depend on their budgeting parents for their finances and that they’ll eventually fend for themselves later in life. That said, young ones can definitely benefit from being taught how to make money. For kids however, this is a rather boring task – that won’t be the case if you teach them in a fun way however.
If you’re wondering about teaching how to make money for kids without making them undergo long, boring lectures about economics and commerce that they won’t understand anyway, here are a few ideas.
Make Them Do Chores for a Reward
You can always start teaching your kids how to earn cash at home. This is a very practical and safe way to impart the necessary knowledge. One way to teach children how to earn money in your home is by asking them to do chores for a reward. There certainly are other ways, but this one is the most productive as they actually get to help you with the housekeeping and mundane tasks.
You can ask your kids for assistance on laborious chores like cleaning the bathroom or washing the car. If you want them to do things by themselves, then you should give them a task that’s suited for their physique and age, something like taking out some trash, making their beds, or weeding your garden if you have one. In this case though, make sure that they work where they don’t get distracted much, like someplace away from their toys or the television.
Now the rewards didn’t always have to be money. In the case of preschool children, you can always give them things that they enjoy, like treats or even the simple permission to play outside. Children who can appreciate money more – like those who go to school – will certainly prefer some extra allowance that they can spend on things they want.
While you’re at it, you should also inculcate upon their tender minds the value of volunteerism, especially at housework. Don’t always reward them for whatever chores they do; teach them as well that the result of the work is also its own reward. You can do this through activities that kids may perceive as fun, like gardening and decorating the house.
Involve Them in Business, or Make Them Start One
Teaching children about making money through business can help establish the groundwork for a future entrepreneurial career. This will work well with children who show an interest in buying and selling. If you have a business, you can take them to work with you after school or on the weekends and familiarize them with how the business works.
You can even get them to help with certain tasks. Children of the right age can also be encouraged to start a small business on their own or with their friends. It can be something they can afford on their own and with a little help from you, like a small roadside refreshment stall.
In any case though, always remind them to love what they do and have fun. Imparting the knowledge of how to make money for kids may be tough, but it will be very rewarding to see them grow into independent individuals who understand the value of hard work.