How kids can use their skills to earn more pocket money
Do your kids have an entrepreneurial streak? What are some ways for them to earn more cash?
When it comes to earning pocket money, our research has found that many Australian children do. And there are some good reasons for doing so; spending some of their time earning money is a way for kids to learn, in a practical sense, the real value of that money and of their time.
Having regular chores also encourages responsibility as well as providing a sense of achievement when the chores are done and the pocket money is earned. And if the earning takes place outside the immediate family circle, kids will probably gain some terrific customer service skills as well.
There are many common tasks that kids can take on to earn extra pocket money. While you may have thoughts about washing the dishes and mowing the lawn as a way to provide pocket money, we have also identified some more unusual jobs kids can complete, both at home and further afield.
As kids get older, the home-based chores that they are able to complete expand. In addition to regular household chores, some other possibilities include:
- Cooking a family meal. The idea of having a personal chef is tempting! Someone to buy the ingredients and prepare and serve a meal for the family. Perhaps your child could take on this task once or twice each week – for a small fee. Learning how to cook (and clean up afterwards) is also a useful skill for your kids to master.
- Help their siblings with their homework. Helping their younger siblings with their homework can be a good way for your kids to spend some constructive time together. It can also free up some of your time – a win/win.
- Take in some ironing. There are plenty of commercial ironing services available – which indicates that ironing is not a popular chore! An hour or two of ironing each week (perhaps while watching TV) could be an easy source of income.
Around the neighbourhood
There are also plenty of ways for tweens and teens to earn some extra money around the neighborhood. For example:
- Set up a dog walking business. Australians have one of the highest rates of pet ownership in the world – but don’t always have time to walk their dog each day. Why not encourage your child to design a flyer and do a letter drop. It could be great exercise and good money.
- Do some gardening. Many of us also lack the time to keep the weeds in our garden under control, so some weeding, hedging or pruning services might be in demand.
- Set up a car washing service. Many households lack the time to keep their car in always-gleaming condition, so a neighbourhood car washing service could be a popular option. Your child might need to outlay some money upfront, to set themselves up with the car washing materials they need, but it may prove to be a good investment.
From learning about the responsibility of a regular work commitment, to practicing negotiation and customer service skills as well as gaining a great appreciation for the value of their time, earning money is a great learning experience for kids, and there are plenty of ways they can go about it. Even better if they can earn money doing something they enjoy.
For more money management articles and tips, visit the Beanstalk.