Whether it’s to buy that toy they want with their kids debit card, or to add to their savings, learning how to make money is something that will benefit your children for the rest of their lives.
Here are six fun ways for your kids to earn money while learning new life skills:
1. Guide Your Kids’ Financial Decisions
Arguably one of the first things that come to mind when thinking about entrepreneurial pursuits for kids is a lemonade stand. This one’s so simple, that even toddlers can do it with minimal adult supervision. All they’ll need to get started are pitchers of ready-made lemonade, some ice, plastic cups, chairs, tables, and a location that’s visible to passersby.
But then, why settle for a lemonade stand when you can put up a snack shop instead? Take things up a notch by offering more variety – bottled water, soda, canned juices, granola bars, cookies, chocolates, candies. Your kids can do this during yard sales, special occasions, or on a regular basis if they want to.
2. Helping Out with Household Chores
If you have chores around the house that you’d like to take off their hands, why not work out a deal with your kids and have them handle extra responsibilities in exchange for extra allowance? This is a good way to encourage your children to help out more while also giving them an opportunity to earn.
There are plenty of tasks around the house that children can do, regardless of how old they are. This could be daily or weekly chores like making their beds and taking out the trash when it’s full; or it could be a one-time project like spring cleaning.
A Chore App is the perfect tool for parents to find and assign age-appropriate chores for kids. You can also use the app to transfer funds and conveniently pay your children for every task they accomplish, which they can access through the BusyKid Spend Card.
3. Starting a YouTube Channel
YouTube has grown to become one of the biggest social media platforms over the last decade, and a lot of people are making thousands of dollars a month by posting videos on the site.
With some followers, your kids, too, can make money off creating kid-friendly YouTube videos about things they love to do. Some niches worth exploring are toys, movies, video games, and other fun but educational contents that parents will approve.
YouTube creators earn largely through advertisements that play before and during the video, so your kids will need to reach a certain number of followers/views before they can monetize their channel. This will take time, effort, and a lot of patience, but it’s not impossible.
4. Taking Care of Other People’s Yards
Doing yard work is one of those classic money-making opportunities for kids. Through the decades, kids have spent their summers mowing lawns and tidying up neighborhood yards for some extra cash. The little ones can pull weeds and pick up fallen branches, while older children perform the more complicated tasks like mowing the loan.
Unlike before, though, kids these days no longer have to go knock on doors to or distribute fliers to find clients. They can simply advertise their yard service on social media or on local community groups online.
Like yard work, babysitting is another classic as far as jobs for kids are concerned. While this is obviously one for children 13 years or older, it can be a very lucrative side hustle, especially on the weekends.
The easiest way for your kids to land a babysitting job is by advertising on social media or signing up for one of the many babysitting websites. As parents, you can also help promote your child’s babysitting services by spreading the word with neighbors, family, and friends!
6. Pet-sitting and Dog-walking Services
Out of all the money-making ideas that your kids can do, this one is probably the one they’ll enjoy doing the most! Most people treat their pets like family and are always looking for someone reliable to look out for them when they’re too busy or away from home.
If your kids are old and responsible enough to walk or take care of other people’s fur babies, why not have them start a pet-sitting or dog-walking service around the neighborhood? When they’re more capable, they can attract more clients by advertising online or joining one of those official dog walking sites online.
Teaching Kids About Financial Literacy
Once your kids start making money, it’s important for them to learn how to be responsible with it. Instead of letting them blow their hard-earned cash on toys and candies, teach them how to save and invest while they’re young, so that when they grow up, it’s like second nature to them.
Help your children gain valuable hands-on experience for managing money. Kids learn by doing, so let them do with BusyKid!
*The BusyKid Visa® Prepaid Spend Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a licensee from Visa® USA Inc. All cardholder’s funds are insured by the FDIC in accordance with the FDIC’s applicable terms and conditions. For more information about the card’s terms and conditions including the Visa® Zero Liability policy, click here. One BusyKid Visa® Prepaid Spend Card is included with a paid family subscription, but additional cards cost $7.99/yr with a linked bank as a funding source. A small $.55 transaction fee will be added to orders using a credit card. There may be some additional fees associated with the Spend Card, please see our FAQ’s for more information.