| Once a child is old enough to understand the concept | | | | gains as we teach kids how to generate money. |
| of money, they are ready to earn their own money. | | | | Teach them the power of compounding interest and |
| There are various ways kids can make money. Little | | | | enroll them in a financial literacy class at a young age. |
| jobs can earn money for a child, but don't let the | | | | This not only educates them but also provides them |
| money itself be the focus. Instead concentrate on | | | | needed motivation to continue to save on a regular |
| helping them learn entrepreneurial and financial skills. | | | | basis. |
| Financial literacy training and entrepreneurial | | | | 4) Support them and encourage entrepreneurial |
| development will help your kids make money and | | | | endeavors. There are old school ways that kids can |
| most importantly keep the money they earn. The | | | | make money like by having bake sales, baby sitting, |
| ideas listed below will show you how your children | | | | delivering newspapers or a lemonade stand. Now |
| can earn money and have it work for them. | | | | days we can also teach our kids how to leverage the |
| 1) Help your children set some financial goals. Work | | | | power of the internet and begin to market items on |
| together to assist them in setting short and long | | | | eBay or other sites. They can also market other |
| term goals for their money. The long term goals you | | | | products they find online with no out of pocket |
| may need to guide them and give them examples of | | | | investment. This affiliate marketing gives them all the |
| what that would mean to their life. Short term goals | | | | tools they need and the experience of starting their |
| should be easy to set. Have them pick something | | | | own business. One world of caution though - closely |
| they want to save for that they can achieve in 6 | | | | monitor their online activity but encourage them to |
| months to a year. Cut out a picture and post it on | | | | start a business and take a financial literacy class. |
| their piggy bank. This will help them make the | | | | 5) Encourage your teenager to get a job or start |
| connection between money and having the things | | | | their own business so they can start earning money. |
| they want in life. | | | | Whether they go out and mow lawns in the |
| 2) Give you children the opportunity to earn an | | | | neighborhood or start a job, it is good for them to |
| allowance for doing extra work around the house. As | | | | get on the road to financial independence at a young |
| they earn money then you can begin to teach them | | | | age. |
| about the importance of saving money. Get their | | | | There are a multitude of ways children can earn |
| bank account open immediately and let them start to | | | | money. With a little creativity, motivation and financial |
| see the little bit of interest they earn grow over | | | | literacy training you will find your kids making and |
| time. | | | | keeping their money. |
| 3) It is essential that we do not focus on short term | | | | |