Teens Making Money - Tips For Your Teenager to Earn Cash!
So your child is now showing interest in earning money and you are not sure how to go about giving it to them...
Should they be rewarded for each chore they do, each good grade they make, or every time they do a little something extra around the house? You are probably thinking that you can use this opportunity to your advantage and have a little helper helping you with daily duties, but it is important to remember that children should also be expected to do things around the house without compensation.
It all sounds like it may be confusing, but it is just important to separate chores from their money making duties.
You don't want your child asking for a dollar every time they clean their room, you want them to have specified chores that they are expected to do everyday with out money being earned for them.
While it may sound daunting and you are unsure how to go about it, you just need to remember one simple tip, which is to make sure that they understand what they will be paid for and which ones they will not.
It will also be important to keep it consistent.
Consistency will keep you from difficulties later on.
Children learn at young ages and adapt easily to most new concepts.
You do not want them to have to slave for a measly amount of money, as this may think that it is too difficult and causer them to not want to earn money any longer.
The same effects can occur if you pay them too much for the amount of work they have done.
This tends to make the child believe that everything comes to easy, and that they will not have to do much to succeed.
Finding the perfect balance between the both is going to be different for each family, but a good rule of thumb for weekly pay for children averages about a dollar or so a week for every year of age.
That meaning, an 11 year old could earn in the range of 10-15 dollars per week and that would be a generally fair amount.
This is not an exact, as the value of money differs depending on where you live in the world.
So while it will be up to each parent to decide the final factors, it can be a great lesson to the child that can stick with them forever!
Should they be rewarded for each chore they do, each good grade they make, or every time they do a little something extra around the house? You are probably thinking that you can use this opportunity to your advantage and have a little helper helping you with daily duties, but it is important to remember that children should also be expected to do things around the house without compensation.
It all sounds like it may be confusing, but it is just important to separate chores from their money making duties.
You don't want your child asking for a dollar every time they clean their room, you want them to have specified chores that they are expected to do everyday with out money being earned for them.
While it may sound daunting and you are unsure how to go about it, you just need to remember one simple tip, which is to make sure that they understand what they will be paid for and which ones they will not.
It will also be important to keep it consistent.
Consistency will keep you from difficulties later on.
Children learn at young ages and adapt easily to most new concepts.
You do not want them to have to slave for a measly amount of money, as this may think that it is too difficult and causer them to not want to earn money any longer.
The same effects can occur if you pay them too much for the amount of work they have done.
This tends to make the child believe that everything comes to easy, and that they will not have to do much to succeed.
Finding the perfect balance between the both is going to be different for each family, but a good rule of thumb for weekly pay for children averages about a dollar or so a week for every year of age.
That meaning, an 11 year old could earn in the range of 10-15 dollars per week and that would be a generally fair amount.
This is not an exact, as the value of money differs depending on where you live in the world.
So while it will be up to each parent to decide the final factors, it can be a great lesson to the child that can stick with them forever!