Babysitting and lawn mowing are tried and true moneymakers for kids, but not every child wants to work doing babysitting and lawn mowing. So, if your children express an interest in making money (but are not yet ready for even a part-time job), help them figure out what they’re good at. That way, they’ll begin exploring ways to make money that are just right for them.
Think out of the box. If your child does well in math, can she help tutor a younger child who is having trouble? If she enjoys baking, why not sell her own brand of cookies? Does your son enjoy building model planes? Help him brainstorm for ways to make it profitable.
Your kids will need your help, but your time (and sometimes money) is a good investment here. Even if they make mistakes, you’ve taught them to think like entrepreneurs. You’ve also helped them find an enjoyable way to earn and handle money. These are both important skills that schools do not teach but will help them deal with the real world later on.
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