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Budgeting Works!
To gain financial freedom you must take control of your money, plan for the future and Stop Borrowing Money!
Two families striving to gain financial freedom share their experiences.
Blog Author Mona Weathers (monawea)
Co-author, Manda C. -
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Time To Budget News!
Manda C. is our new contributing author. Welcome Manda!
Teaching Children To Earn Their Own Money
Last year my son was always asking me for things. “Mom, can I have this?”, “Mom,will your buy me that?” (sound familiar?). You would think this kid was 5 years old but he was actually 10 years old. I suppose the “I want” stage lasts until adulthood so I guess I shouldn’t be surprise. I was getting sick of hearing it though.
I told my son that for a school project he was going to start his own business that would earn him money. He was required to plan the business, work the business, and write a paper on his experience.
It took a while for him to think up a buisness idea but eventually we came up with selling painted pots with flowers. The plan was for him to paint terra cotta pots, put soil and already grown flowers in them, and sell them door-to-door. It was around Valentines Day so was a good time of year. I don’t know that there is any really bad time a year for kids to try and sell stuff. People seem to want to buy from kids even if it’s junk. There is almost no money making idea for kids that is a bad idea.
My son’s products were not junk though. He made some very nice pots with cute designs. He only made about 5 or 6 pots but he sold all of them for $5 and $7 each. The report he wrote was titled “How I turned $5 into $25″.
I think he felt proud about his accomplishment and bought a toy he had his eye on within the same week he sold his pots. Though this experience never stopped the ‘mom,can I have’s’, it did show him that he could earn his own money if he just sets his mind to it. This could be a good lesson for us adults as well.
 
5 Responses to “Teaching Children To Earn Their Own Money”
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Cool! kabababrubarta
Hi Mona,
Great idea… Too often our kids just want the easy way out by just asking for money. Making them earn it helps them appreciate it more (or we hope so) These days kids & adults just want instant gratification & have a ‘buy it now mentality’ This unfortunately is when we also start drowning in debt with our credit cards.
Yes, the ‘buy it now mentality’ needs to end.
That was a wonderful idea and good for him for following through! My husband used to pay our son for working on the dump truck when he was younger. And my youngest daughter used to clean house and babysit for my older daughter, for pay, when she was a young teen. It’s good for children to do things to earn their own money.
Thanks Ann for stopping by. Sounds like you had some great ideas for your kids to earn their own money too.