Teach Your Kids the Value of Saving and Making Money at a Young Age

Managing and making money is a valuable lesson that should be learned by your children as early as possible.  From building a savings account to adding to a college fund, it’s never too early for kids to start making money.

One of the most common ways for making money at a young age is babysitting.  This can teach your child responsibility and money managing skills, as well as add to their growing savings account.  It’s never too early to teach your child the value of making and saving money, and having them earn some of their own will go a long way towards helping them understand just how much (or how little!) an hour of their life is worth. 

Another great way to teach your child about making money is through household chores.  It’s a good idea to come up with some “extra” chores aside from their regular household duties that could earn them some extra cash.  These can be chores that you would otherwise pay someone to do, such as mowing the lawn, sweeping leaves, washing the car or repainting a wall. Showing them how their work ethic and initiative can help them add to their savings account or buy the things they want can really improve their understanding of money. 

Making money can start at an early age with things like lemonade stands and mowing lawns.  Giving your kids the opportunity to understand how making money works can help them succeed with their financial plans in the future.  Whether they are contributing to a college fund or trying to buy a special new toy, making money is a great way for your children to learn the value of hard work.