Kids Earning
Cool Cash

How can kids make their own money? If this economy has gotten you to think out of the box in terms of creating a more robust cash flow, you're not alone. Your kids can completely get into the spirit. After all, it's never too early to breed an entrepreneur - or at least get them to pay for their clothes or cell phone bill!

Kids Washing CarClarky Davis, The Debt Diva, says the core is about intrinsic lessons learned as it relates to cool cash. "When children earn their own money, they learn to respect and value money as well as stick to a budget and make smart spending choices."

No Car, No problem

As for how to do it? If your child isn't old enough to buckle up into the driver's seat (literally, as in drive a car), no worries. This doesn't mean he or she won't be able to find little ways to earn spending cash. As the weather warms up, The Debt Diva mentions outdoorsy type events can be lucrative and give the kids a sense of accomplishment.

"Host a neighborhood carwash once a month. Advertise by dropping flyers in each person's mailbox and ask neighbors to schedule an appointment so you know how many people will be dropping by to get their cars cleaned." She also recommends having your kids offer home care services to their neighbors like collecting mail while they're on vacation, disposing of garbage, watering flowers, and feeding and caring for pets.

Hone Their Hobbies

"If you're child has a favorite past-time like crafting or cooking, your child can host a morning craft or bake sale. He or she could offer homemade jewelry, greeting cards, seasonal holiday decorations, lemonade or brownies."

  quotation mark open If you're child has a favorite past-time like crafting or cooking, your child can host a morning craft or bake sale. He or she could offer homemade jewelry, greeting cards, seasonal holiday decorations, lemonade or brownies. quotation mark close

Elisabeth Donati, author of The Ultimate Allowance: A Sure-Fire System to Turn Your Kids Into Financial Geniuses, adds the key for young kids earning cash is providing a service via foot or bike or close enough that mom or dad can chauffeur them back and forth. "Providing a service gives them the ability to learn and grow a skill and makes them feel good about not only being paid for their time and energy but doing something good for someone at the same time. This is the greatest combination: getting rewarded for doing good in the world."

Vroom vroom

If your child is old enough to drive a car, they will have other doors open to them. "Check out local restaurants, coffee shops and eateries that have reasonable operating hours for positions in hosting, serving or cooking," says Clarky. "Book stores, music stores and hobby shops are great options for teens looking for a job."

Whether your kid builds a lemonade stand at the end of your driveway or gets a gig at the local movie theater, it's all a great learning experience. Curtis Arnold, entrepreneur, author of How You Can Profit from Credit Cards, contributor to The Ultimate Allowance and founder of CardRatings.com, says it's important for kids to be exposed to the reality that adults face every day.

Go That Extra Mile

boy mowing lawn"Our pay is based on our performance and good performance is rewarded by salary increases, bonuses and the like," Arnold says. "If our kids can be financially awarded for "going that extra mile" on a chore, for example, then that will typically motivate them to take pride in their work and develop a heightened sense of ownership."

For instance, Curtis instills this sense of ownership with his five children. Over the years he and his wife determined their kids should do chores and be paid based on their age and responsibilities. "The key is to keep the amount small initially and gradually increase the dollar amount as they demonstrate sound money management skills. We strongly encourage our kids to save at least 10% of their allowance and to share 10% of their allowance with a charity (in our case, that is usually accomplished by tithing at our local church)." So, not only are your kids earning money, they're learning how to manage it as well. And that's one to grow on.

related video:

Teaching Our Kids Financial Responsibility

Author and money coach Denise Winston gives tips on teaching kids the value of money.

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Comments

Comments on "How kids can make money"

emaan athar June 26, 2013 | 9:02 AM

you may make drawings and sell them you might open a yard sale and sell old,broken or un used stuff open lemonade stall open your own library.let people READ your books

Grace January 29, 2013 | 1:58 PM

if you have a fireplace, u can bring in wood, thats what i do. i want to save up for a computer.

hydia b January 06, 2013 | 11:58 AM

i think kids would need to make money like if your parents cant afford to send you to college or high school and just for the fun of giving some to charity

Anastassija December 08, 2012 | 1:47 PM

what i do is sell newspapers type them up print and sell with my friend

sassy pan4 October 24, 2012 | 12:38 PM

This is stupid we are kids not robots what are you people thinking you guys are idiots and losers

Ellen Ryan October 15, 2012 | 5:38 AM

I will be using all these methods because kids my age (11) are really needing to make some money just incase and for high school and collage.

Roger May 29, 2012 | 12:51 PM

This is preaty weird You dont tell us what to do besides car wash this is messed up.

Kenzie Wilson May 12, 2012 | 2:41 PM

This is not confusing but parents expect their children to go outside and do a lemonade sale or wash cars or sell things! It isn't that easy! I am going to school and my friend is selling fancy scarfeves for $3 and I can't find anything like that that I can sell and a lot of websites havent told me anything I can sell to my friends!

chestiny harris March 20, 2011 | 10:59 AM

IF YOU DON'T LIKE BABYSITTING ,MOWNG YARDS,DOG WALKING,NEWSPAPER THEN YOU JUST DO ORDANARY THINGS.FOR INSTANCE YOU CAN MAKE THINGS OF YOUR OWN AN SELL IT.

Ally December 21, 2010 | 3:08 PM

shouldnt this help kids earn money and not say: No car, no problem. i just dont get this and how can you earn money by not having a car? do u get paid by not owning a car? try thinking of ways to EARN money. i think you have stated the obvious. you got my life messed up because i am soooo confused. have a good day

kosha October 22, 2010 | 4:13 AM

My kids love using threejars to keep track of their allowance. If you haven’t heard of it, check it out, it’s just threejars.

david August 14, 2010 | 9:10 PM

One of the simplest ways how kids can make money is to sell the latest fads to your friends at school. We used to be absolutely crazy about swapping basket ball cards when we were at school - so my friend found out the supplier and decided to start buying them boxes at a time. At lunch time he would sell them to all the other kids, he sold them for a bit less than the shops so everybody would try to buy them off him instead!

Kidman May 26, 2010 | 6:04 PM

I don't have any kids! But i was named kidman!

bob April 24, 2010 | 3:09 PM

you know you guys can just search it on Google and that solves your problem SO USE GOOGLE!!!!

kids make money December 19, 2009 | 2:40 AM

There are lot of kids make money online

kids make money December 19, 2009 | 2:38 AM

There are lot of kids make money online

jacob October 29, 2009 | 2:45 PM

how can i get so rich

Aubry August 05, 2009 | 12:48 PM

what ev kids go clean ur damn rooms.

tyrone June 17, 2009 | 3:23 AM

hi how can you earn cash i want to get a paper but i have no number to call them any one got a number ??

cindy June 11, 2009 | 4:43 PM

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