How kids make money is a lot like rocket science. What do I mean by that? Let me explain.
First, let’s define “rocket science.” Rocket means “to move rapidly and directly.” Science means “knowledge, especially acquired through experience.”
How kids make money is like “rapidly and directly moving (money) knowledge gained through experience.” Now that is pretty COOL! ;o)
When children are born, everything is new to them. From being outside of the womb to feeling hungry, wet and aware of different sights and sounds, children rapidly grow. Their knowledge of themselves, their parents, other familiar and strange faces and voices directly impact their lives.
How does this relate to money? Money is something they experience very early in life. From watching you put money into their piggy banks, to watching you pay for your groceries and special treats for them, children are very aware of money. They really do like this green stuff! ;o)
How kids make money is something most kids think a lot about. Oh, they learn very early in life that their parents (or grandparents, uncles/aunts, etc.) will give them money. It’s really great that these relatives (or friends) give them money. Is that the only way to get money? The question is how can they make their own money?
Here’s my ebook “50 Money Making Ideas for Kids”, which you can download for free, where you will find lots of interesting and real ways on how kids make money and how they run a business for profit.
It’s not only important to teach your kids how to make money, it’s also important to teach them how to manage their money. How kids make money is only the first step. How they manage it is the next step. I believe that managing their money is just as important as making it.
How kids make money from an early age, through their tweens and their teens, is set forth in the above ebook. Congrats! Your kids have learned how to make money. Now, what do they do with this hard-earned money?
Although that’s another discussion for another day, here’s a gem of an idea you can tell your kids right now. Divide your money! What I am saying is to separate your money. ;o)
Put some away for a rainy day; put some away to earn passive income (investing in a friend’s business or creating a business or product where you collect money without having to reinvent that item); save some to donate to a charity of your choice; save some for that special dream purchase (your first car, your next vacation); and be sure to spend some too. You’ve earned it! ;o)
Tell your kids to never be discouraged. How kids make money is not as hard as they might think. You can role play with them so that they become more familiar with what they have to do to make their money. Making their own money gives them a lot of confidence in themselves and increases their self-esteem. They also feel very powerful!
As I said before, how kids make money is a lot like rocket science. Kids pick up very fast what money is, how it is earned and how it is used from their experiences. This knowledge about money is learned rapidly (how fast they grow up!) and directly (from you!). Before you know it, your kids will be young adults living on their own and managing their own lives.
Here’s to encouraging how kids make money and how they manage it!
Cheers … Amanda van der Gulik … Excited Life Enthusiast! ;o)
P.S. Here are some more fun money teaching tools I found on Amazon to help your children learn about saving! Enjoy! ;o)
(Simply click on the photos, it will open up a new window, to take a “sneak peek” inside them!)