Money making ideas for kids are growing in popularity because they are a great way to teach children about business and finance. As more adults realize the value in instructing children how to make fast cash or how to grow money over a long period of time, new and creative ideas are being sought. Instead of buying children items that they long for or giving them an allowance to save, money making ideas for kids are being used to empower children with skills they can use for a lifetime.
While concepts of chores for cash or a lemonade stand aren’t new, more contemporary money making ideas for kids are far more creative and profitable, such as:
Stock investing
With the growth of online stock investing, parents are finding that it is easier than ever to teach their children how the stock market works and how money can be made through investing. Of course, the parent is the one actually making stock purchases, but many are doing so on behalf of their children. This idea is particularly worthwhile for children who are enthusiastic about certain brands. By researching these brands and showing children how shareholders are actually profiting on sales, children are able to get a sense of how important their spending really is. With small investments and reinvesting their earnings, children are also able to learn how to make fast cash or, in some cases, how misjudgments can actually be costly. Either way, stock investing is one of the best money making ideas for kids in that it offers a broad education on finance and an understanding that changes how a young person sees the consumer-driven world around them.
Small business
Another great money making idea for kids involves starting a small business. Although Cameron Johnson is now a successful adult entrepreneur, his journey into business started when he was only seven years old and started his fast cash business by selling vegetables door to door in his wagon. From there, Cameron went on to start several other small businesses, including a greeting card and stationery business and a highly profitable Internet business. Perhaps one of the most oft-told stories about Cameron’s business acumen is of the time he bought thirty beanie babies from his sister for $100 and then resold them on eBay where he eventually averaged $50,000 per year in sales. Not long after that, Cameron was making $15,000 per day in his Internet business. As he learned the ins and outs of commerce, Cameron grew into a totally self-sufficient teenager in charge of his own financial destiny. Lessons learned, from replenishing supplies to marketing to handling his own banking, are lifelong skills that every child can profit from. Today, Cameron is an accomplished author and entrepreneur, but the early training that he received as a child entrepreneur are what has propelled him to the millionaire businessman he is today.
Non-profit business
While some kids are only interested in fast cash to buy the latest toy or finance a trip to a local amusement park, some have more altruistic concerns. Money making ideas for kids also include ideas that help kids help others. This is evident in young people like Craig Kielburger who, at only twelve years old, started his own non-profit company for human rights called Kids Can Free the Children. Another young activist, Zach Bonner, raised thousands of dollars to help homeless children and led a walk from his home in Florida to the White House in an effort to raise awareness on the issue. Young people like Craig and Zach love to help others and have made it their business to do so through massive fund raising and public awareness campaigns. While learning valuable business and finance lessons, these young people are also teaching the world about the power that lies in even the least of us.
Money Making Ideas for Kids Offer Limitless Opportunities
These money making ideas for kids are but a small sampling of the limitless possibilities available for young people to make money now. Children who learn lessons about earning their own money now are not only positioned to be financially stable adults, but they are far less likely to waste money now or in the future. When figuring out which of the hundreds of money making ideas for kids is a good fit for an individual child, adults are advised to consider the child’s current passions and work with the child to create ways to segue that passion into a profitable business.