How Kids Can Make Money at Home

When your child is old enough to count money, then she is old enough to make it, according to CNN Money. With her own money, your child can save to buy things she wants instead of constantly asking you for money. While federal law limits how much a child can work before 16 years of age, you can assign household chores for each of your children and pay them for completing the chores.

Things You'll Need

  • 4 sheets of paper per child or 1 dry erase board
  • Pen or dry erase marker

Instructions

    • 1

      Think of a job for your child. This is a set of regularly-performed tasks for which you will pay him, such as watering the lawn, babysitting a sibling and feeding the family pet. Consider his age and capabilities to make sure he can do each job task.

    • 2

      Decide how much you are willing to pay the child for completing all the tasks of his job. For example, you may wish to pay him $15 total each week.

    • 3

      Assign a wage to each task, making sure they total the amount you decided in Step 2. For example, you might pay the child $2.50 to water the lawn, $0.50 per hour to babysit a sibling and $5 per week to feed the dog. If he waters the lawn twice a week, babysits his sister for two hours each afternoon Monday through Friday and feeds the dog all week, he will earn $15.

    • 4

      List the tasks of your child's job and the pay rate for each. Print this work agreement on two sheets of paper (one copy for you and one for the child), or post it in a central place, such as a dry erase board in the kitchen.

    • 5

      Explain the work agreement to the child. Demonstrate how to do each task of his job to ensure that there are no misunderstandings as to what you expect. Explain that you will only pay him for the tasks he completes.

    • 6

      Inspect your child's work at the end of each day. Keep track of his work in writing, either with a tally on two sheets of paper (one for you and one for him) or on a board in a central area.

    • 7

      Pay your child one day each week for the tasks he has performed. Show him the tally from Step 6 to explain why he received the wages he did.

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