Allowing kids to have their own money is a great way to teach them about finances. You may choose to give your kids money in the form of an allowance or as a reward for good grades or behavior. The downside of doing so is that it may not always teach kids the true value of money. Finding ways for kids to make their own money can teach them valuable lessons about responsibility and independence.
Tutoring
If your child excels in a particular academic subject, he might consider becoming a tutor for classmates who may need additional help. Help your child to create flyers advertising their hours, rates and specialty subject areas. These can be distributed tat school, the library, your church, the grocery store or any other kid-friendly location. You can allow your child to tutor from home, visit the homes of classmates or use a neutral location such as the library.
Computer Technician
Kids today are more technology-savvy than ever and they can use those long hours spent in front of the computer to create their own business. Typical services may include setting up an Internet connection, installing applications or troubleshooting. Help your child to create a fee schedule and flyers advertising the kind of services he provides. PBS Kids recommends charging an hourly fee for services or your child may choose to charge per task, depending on its difficulty.
Personal Assistant
If your child is already used to helping out around the house, they may consider becoming a personal assistant for others who need help. Potential clients could include stay-at-home moms, senior citizens or persons who are disabled. Kids could perform any number of tasks, including watering plants, mowing lawns, unloading groceries, helping with housework, painting or performing simple errands. Your child can charge by the hour, the task or by the day depending on the client's needs.
Pet Care
If your child loves animals, a pet sitting or grooming business can potentially be a great way for them to earn extra cash. Kids can pet sit for neighbors who are on vacation or pets whose owners work during the day. Pet sitters may be responsible for feeding, walking or simply playing with the pets they're taking care of. Pet sitters can also expand their range of services to include washing and grooming for dogs and cats.
Car Washing
During the summer, a car washing business is an easy way for kids to make extra money. Kids can advertise their car washing services around the neighborhood or you may allow older kids to go door-to-door. All they need is a bucket, a hose, some sponges, soap and some towels for drying to get started. They may also consider offering detailing services, which usually involves vacuuming and cleaning the inside of the vehicle as well.
