Finance Tip of the Day

Creative Ways to Teach Children 8-12 to Generate Revenue

  • 2019 28 Mar
Creative Ways to Teach Children 8-12 to Generate Revenue


Creative Ways to Teach Children 8-12 to Generate Revenue

”Poor is he who works with a negligent hand, but the hand of the diligent makes rich.” ->Proverbs 10:4

Here is where the real fun with creative income generating opportunities begins. This age bracket is also perfect for learning whether your child has a natural entrepreneurial spirit.

Summer ideas: Summer break is a great time for your children to earn money.

1. Ask your child to choose toys they don’t play with anymore and clothing they don’t use as items to be sold at a yard sale. Work with your child to put together a sale, have them work it from start to finish and than agree on splitting the proceeds accordingly.

2. Do you live in a neighborhood that does neighborhood-wide yard sales? How about doing a refreshment stand during the yard sale? You can decide to invest $20-$30 to purchase muffins, coffee and other breakfast items and your child can tend the refreshment stand. After the sale, recoup your investment and allow your child to keep the remaining proceeds. This could be a great lesson on investing and generating returns.

3. If you live in a neighborhood that has a community pool, ask about the possibility of your child running a poolside refreshment bar with popsicles, lemonade and cookies. This is another great way to engage them in creative income generation and honing their interpersonal skills. This time you may encourage your child to invest a portion of their saved money to teach them about investment and risk.

Today's tip brought to you by Mvelopes and Money4Life Coaching.