Growing up, how many times did you hear the phrase,”money doesn’t grow on trees?” Helping kids understand financial literacy, money management and even where money comes from is no easy task.
Sometimes, the best way to learn about something is to try it out for yourself. Once your child has their own money and must pay for toys, tech, snacks or outings with friends on their own, they’re sure to start seeing money differently — or at least begin taking it more seriously.
Encourage your kids to earn their own money this summer. Becoming a little entrepreneur will teach them important lessons in hard work and responsibility, and they’ll likely learn about money management and budgeting along the way, too.
Looking for creative ways to have fun while earning some coin? Here’s a few ways for them to get started. Just make sure that they work hard, but play even harder this summer!
Start a lemonade stand
This classic business for kids can be transformed to go beyond serving lemonade in a plastic cup. Your child will learn all the factors that go into a successful business plan, like location, price, branding and service. To sweeten the deal (and the profits), serve homemade treats or other goodies to pair with your lemonade.
Want to invest in your child’s business? Learn how to build your own lemonade stand, complete with a service counter.
Help with extra chores
During the summer, there tends to be extra work to be done around the house, from watering gardens and plants to the extra clean up that occurs when everyone is at home during summer break. If your child does not receive an allowance, giving them one in exchange for helping with seasonal chores can be a great place to start. If they already receive an allowance, consider implementing a “bonus” system where they can help with extra chores in exchange for a small bonus.
Organize a car wash
Operating a car wash can be a blast on a hot summer day — but it’s also a lot of work! To make everything run smoothly, your child will need to recruit some extra hands and learn to work as a team to provide quality car washes and earn the big bucks. Plus, they’ll learn about the power of advertising and marketing by making posters to recruit customers.
Do yard work
From mowing the lawn to raking grass or watering flowers, lawn care is a lot of work — which is why many homeowners are happy to pay someone else to do it for them. Depending on their age and experience, kids can start by doing basic tasks — like weeding driveways and raking yard clippings — and work their way up over several summers to providing full service lawn care. All of their sweat and hard work will pay off — literally!
Pet sit or walk dogs
If your child is a natural with animals, why not monetize their love for pets by starting a pet sitting or dog walking business? Caring for fur babies is a lot of responsibility, but it can also be fun and very rewarding, especially for kids who aren’t able to have pets of their own.
Pro tip: Gaining a pet owner’s trust is a crucial factor in running a pet sitting or dog walking business. Help your child compile their first resume to show potential clients, even if they don’t have any “real” work experience; caring for a family pet, volunteering at a shelter or previous pet sitting experience all count!
Offer to house sit
When everyone takes off on summer vacations, your child can make some extra spending money by helping neighbors and family members look after their homes. From bringing in newspapers and mail to light cleaning, watering plants or looking after pets, we’ll bet your child never realized how much work goes into maintaining a home!
Start a babysitting business
Best for older kids who have proven themselves to be trustworthy and responsible, babysitting is a classic way to make some extra money on school nights or weekends. Without school to disrupt their schedule in the summer, babysitters can sit for multiple families each week, giving them the opportunity to start saving all that babysitting money.
Pro tip: Help your child compile a resume to show potential employers they are responsible and trustworthy. The resume can include looking after a sibling, mentoring experience, leadership awards at school or previous babysitting experience.
Look for youth or teen jobs
Even if your child is serious about making some extra cash this summer, it’s important that they balance that drive with taking the time to be a kid. Some park districts, religious organizations or even local shops will offer limited part-time employment that is a great way for kids to transition to their first “real” job while developing important skills, earning money and — most importantly — still allowing them to have the time to be a kid this summer.
Follow Metro Parent on Instagram.