Top Ways on How to Earn Money in Childhood

Financial education alone will not help your child in gaining financial independence. They must learn to practically implement this knowledge in their real life to gain a financial edge over others. This is only possible when they start learning how to earn money in childhood.

Learning to make money from childhood will enable them to take advantage of different money-making opportunities that come their way.

Making money can be challenging for kids who are too young to earn. But parents can surely back them up with support and all essentialities required for them to earn money from childhood.

Here are a few ways discussed following which your child can make money:

1. Organising People's Stuff

As a kid, if you are good at organising things, you can definitely opt for this job. All you need to do is organise different things in their proper order for other people with your assistance. 

2. Watering Plants

This is probably one of the easiest ways to earn money in childhood. You just need to find some families where the elderly live or people who work for a long duration; you could just help them by watering their plants. Also, you can extend your help to those out on vacation.

3. Selling T-shirts

With the easy availability of a screen printer and a graphic designer, designing and selling t-shirts have become easier than ever before. You can contact your nearby shops to sell them or can even contact those who sell on different online platforms.

4. Yard Work

Another easier way to start earning money as a kid is to make some flyers stating your top yard works or services and distribute them around your neighbourhood.

You can list out things like fertilising grass, picking weeds, etc. Thus, in this way, you can help your neighbours with the required yard work.

5. Washing Cars

Younger children could easily opt for this task for their neighbours. Once they grow up and get legal permission to work, they can even do this task part-time as they have gained proficient experience in washing cars. Even some professional car washers can even hire them for this task.

6. Babysitting

Some parents in your neighbourhood might not want to leave their child alone at home. Thus, they look around for babysitters. As a kid, if you are interested in performing babysitting gigs, you should surely go for this job. Parents could also help their children in doing these types of tasks.

7. Pet Walking

If you live in a neighbourhood where people work all day and have pets in their houses, then you could help them out. You can take them out for a walk and take care of them for some time to earn some cash. This will be the most pleasing job for your kid if they are a pet lover.

8. Helping Seniors in Doing Some Chores

If you know any house in your neighbourhood where senior citizens live, then you can provide them with some basic assistance and get paid for that. You just need to perform some basic chores for them, like purchasing their groceries and carrying them to their house. 

9. Selling Used Items

There might be some unused books, toys or other stuff in your home that your parents might not care to preserve anymore. So, with their permission, you could sell them in a garage sale and make some money out of it.

In this era of digitalisation, children are also becoming increasingly digitally savvy. If your child is an online expert, then he could utilise his skills to earn money.

Here are some remarkable ways to earn money from childhood via online platforms:

1. Selling Crafts and Jewellery Online

One of the brilliant ways of earning money as a kid is by selling jewellery and crafts online on different online platforms like Etsy. Children who are fond of art & craft and making jewellery, for them it would be an exciting job to do.

2. Selling Photographs Online

If your child's hobby is to take photographs and snapshots perfectly and creatively, then they can even make money through this. All they need to do is take excellent photos and post them on different sites willing to pay for them, like Foap, Scoopshot and EyeEm.

3. Live Streaming

Some children love watching live content streamed on various online platforms. If your child shows too much interest in this, then it's time for them to live stream their own content. They can start with the Twitch platform for live streaming and start earning.

4. Making YouTube Videos

YouTube is one of the most popular platforms that tech-savvy kids are using nowadays to earn a decent amount of money. Your child can also create videos on the topics of their choice and post them on YouTube to generate income. 

5. Selling Digital Goods

Another way through which kids can easily earn an income is by selling digital goods online. They can easily create an online course or an e-book on the subject of their specialisation and sell it via different online platforms to generate money.

6. Testing Apps

Testing different apps is also a good source of income for those who want to earn money in childhood. Though there are many sites that pay for testing apps, two of the most genuine ones include UberTesters and TesterWork.

7. Selling Old Stuff Online

Children who don't want to use their old stuff anymore, apart from these being in good condition, can easily sell them online. Through this, they can earn some amount as well. Some of the best online platforms to sell them include Facebook, Craigslist, eBay, Poshmark, Marketplace, etc.

8. Blogging

If your child loves writing and has the talent for expressing themself through words, then blogging would be the best source of income for them. Some blogging platforms pay excellently for this, and it could also serve as a long-term income source for them.

9. Doing Online Surveys

Some children love doing online surveys; even they can earn through this as well. Some of the popular online survey sites include MyPoints, Swagbucks, etc. By doing online surveys on these sites, children could also make money.

Through these online ways, children could earn some money and increase their savings for the future.

You can build financial concepts in your child from a very young age. At this time, they are extremely inquisitive and quite desirous of learning everything. Also, during this period, they learn to follow their parents and even start mirroring their behaviour.

So, at this time, you can consider introducing them to the concept of money and different abstract ways of how to earn money in childhood. Here is an excellent way through which you can start teaching them.

• You can take them to the grocery store and have a glance at the price tags.
• Introduce them to the various ways in which they can pay for groceries, be it through cash, credit cards or online platforms.

These basic lessons could help them build a financial foundation much easier and simpler way.

A significant responsibility of a parent is to make their child understand the importance of money. This will help them make wise money decisions throughout their life. Also, it will help them in dealing with financial difficulties at any phase of their life.

Some other benefits include the following:

1. Help Them in Budgeting

Whatever your income is, budgeting is essential for everyone for proper management of day-to-day expenses. If your child learns early about the importance of money, they will do proper planning of their budget.

Also, they will learn to keep a record of their spending and income for a better evaluation of their budget.

2. Make Wise Monetary Decisions

If your child learns about money and its usefulness at an early age, they will start making small money-related decisions from then only. By the time they will grow up, they will gain enough experience in money-related matters. 

Thus, they will be able to make wise decisions related to how to earn money in childhood.

3. Know the Importance of Saving Money

Saving money is quite critical, but it's important as well. So, if your child knows the value of money, they will learn to make small savings from their allowances and earnings from the very beginning.

They will also find out different tactics to save money and maintain a piggy bank. This saving habit which is inculcated in them at such an early age, will help them throughout their life.

4. Understand What's Worth Invest and What Not

Making proper decisions related to investing requires sound knowledge and understanding of the importance of money. They will gradually learn where to invest their money and where to not by realising the value of money. 

Also, proper investment decisions are required for those who want to know how to make money in childhood.

5. Gain Financial Independence

One of the most significant benefits of learning about money so early is that your child will be able to achieve financial independence. This will lead them to a better life than yours. 

Also, they will not have to strive hard to make money in the later stage of their life. In the meantime, they also don't have to sacrifice anything to fulfil their desires.

6. Avoid Irrelevant Expenses

If your child understands the value of money, they are bound to avoid any unnecessary or irrelevant expenses. Whether it's reusing old notebooks where there are still some leftover pages or reusing old books, they will think twice before spending any penny. 

In this way, they could also save a lot of money.

Every parent wants the best future for their child so that their children can reach their full potential. One of the best ways of doing so is by saving for their child's future. 

If you have not still mapped out any specific savings plan for your child yet, then here are some brilliant ways in which you could invest for your child's future:

1. Open an Investment Account for Your Child

By opening an investment account for your child, you will be able to teach your child about the different investment options- probably about the stock market. At a very young age, they can have a look at the market and gain an overview of when to invest and when not to. 

They will also get to learn about various commission-free investing options.

2. Open a Roth IRA

Another popular saving strategy for kids is to open a Roth IRA. It can be opened as a custodial account as well and allows your kids to deposit their money in this account. 

So, if the account is opened as custodial, both you and your child can decide in future where to invest and how much to save. One can also use this saved amount for one's child's higher studies abroad.

3. Teach Them To Invest in a UTMA Account

You can also teach your kids to keep all their allowances and reward amount in their UTMA account. This will prevent your child from spending on unnecessary things and also save their amount for future use.

Also, these accounts allow the kids to choose the type of mutual fund in which they want to invest.

4. Keep Money in a High-Yield Savings Account

One of the major reasons why kids should keep their money in a high-yield savings account is that these accounts definitely provide higher APYs than any normal savings account.

Thus, saving money for your kid's future has become equally important as knowing how to earn money in childhood.

Every parent nowadays should be responsible for making their kids financially independent. Therefore, they should introduce them to different monetary concepts and help them find different ways to earn money in childhood. 

Parents should also encourage their children to build skills that can help their child in earning a good amount of money.