In order to teach your kids the value of money, they have to understand how much effort it takes to earn it. One of the biggest mistakes that parents make with this concept is that they give their kids an allowance just for the sake of an allowance. Here are some other ways that you can teach your kids the value of money.
Make Goods to Sell
Many kids will open up a lemonade stand in order to earn a little bit of money. You can go with a similar theme and make anything that your kid is interested in selling. Have your kid do the bulk of the work while you play assistant. You want to instill in them that in order to earn money, they need to work for it. You don’t even need to use the traditional stand in the yard. Consider selling your nonperishable goods online.
Recycle Aluminum Cans
Have your kids collect aluminum cans around your house. You may even encourage them to collect them from neighbors and other businesses. Take them with you when it’s time to return them. Some recycling centers allow aluminum cans to be returned for money. Let your kids use these bottle drop locations with machines that take them back. In other locations, have your kids take them to the recycling center in order to earn some money.
Your kids can always do some chores around the house to earn their allowance. Encourage them to help out other relatives in your family. Grandparents might be a good option for this sort of thing. This would allow your kids to learn that they have to work to earn their allowance. It will also help to build their work ethic. Consider asking your elderly neighbors if they would like your kids to help out with anything around their houses.
Perform Yard Work for Neighbors
Many kids will mow lawns in order to earn some money. It doesn’t need to stop with just mowing lawns. There are always weeds that need to be pulled and leaves to rack. Some of your neighbors may not have the time or the ability to complete these tasks. Your kid could become the neighborhood yard maintenance service. They would learn that they have to work hard in order to earn a few dollars.
Kids are more likely to place higher value on the money that they earn. Your kids may even learn some new skills or develop a new interest in their quest to understand the value of the dollar.