Get Kids to Save Money
Once children are old enough to understand the concept of money, they are old enough to learn ways to make money. There are always jobs kids can do, particularly jobs around the house.
In our family, each child is assigned age-appropriate chores to complete each week. They are not provided an allowance for doing these chores. Here are some ideas for toddler chores and school age kid chores.
If our kids would like to earn some money, we keep a list of additional household chores which they can do and be paid. Some of the items on the list include: cleaning baseboards, dusting the china cabinet and pictures on the walls, mopping the kitchen floor, sweeping the garage, cleaning the inside of the refrigerator, and washing kitchen cabinet doors.
In addition to these household chores, our children have come up with all kinds of jobs they can do outside the house to make money. Our son made money mowing lawns, washing cars, dog sitting, and repairing computers. His most lucrative venture was developing a website and subsequently selling it for thousands of dollars. Generally, the sky’s the limit when it comes to a kids’ imagination. Let them decide what they want to do earn money but be aware of whether it is age appropriate.
Get Kids to Save Money
Once they are earning money, it is important to teach them about saving money. It’s not always easy to get kids to save money, but it’s an invaluable lesson they need to learn. One reason our children are willing to save money is because there are things they want which we are not willing to pay for. That doesn’t mean we won’t contribute to the cost of the item. We just feel they should contribute something toward it.
For example, let’s take the $100 pair of Nike shoes our son insisted he just “had to have.” By requiring him to earn half the money for them, he appreciated them and took better care of them. By requiring them to contribute to the cost of these items, we are teaching them to find ways to make money, to save money, and to make good choices with their money.
What are your tips to Get Kids to Save Money?
What jobs have your children done to earn money? Let us know as we love to pass your tips on to our readers!