(Newswire.net — February 24, 2021) — Some adults aren’t financially smart. If you want your child to get more clever in this topic, you should follow these tips. As a result, when your child grows up, he will have money for everything, even for crypto sportsbook betting.
Pocket Money
Most parents give their children pocket money. If you are one of such parents, you have a great opportunity to teach your child how to save the right amount.
Before your kid receives pocket money, decide with him how much of it he will spend and how much he will save. Don’t forget to factor in mandatory expenses, like paying for cell phones or buying a bus ticket. But chocolates, chips and sodas should be avoided.
Your child should put the money he decides to keep in a separate envelope, a piggy bank or his bank account.
If the sum you provide to your child is not that big, it will just take a little longer to reach his goal. Also, there can be other sources of income.
Housework
Perhaps in your family, it is customary for parents to pay their child a little for housework: taking out the trash, taking care of pets, cleaning the floors. Then it’s enough to take on extra chores.
Think about what your kid could do in exchange for a modest reward. Vacuum the carpets? Iron the laundry? There are plenty of options, and parents will gladly pay you, as long as they don’t mind the commercial approach.
Helping Friends and Acquaintances
Offer your child to provide services to neighbors, friends and acquaintances. Don’t you have a job for your teen? For example, he could wash windows, walk the dog, go grocery shopping. These are the first things that come to mind.
Show a little imagination, and you can probably find other, more interesting types of earnings.
Labor will help your child save up the money he needs much faster than pocket money.
Selling Unnecessary Things Online
Gather old stuff that’s gathering dust in your closet, post photos on free classifieds sites and wait for buyers. Just make sure your child doesn’t inadvertently sell anything useful!
Selling Homemade Goods
Can a teen weave stunning bead jewelry? Can he sew well? Make wood jewelry that everyone admires? If so, your child might have some people who would be willing to pay for your product!
Think about how much your kid’s product will cost. To determine the price, calculate the cost of making a unit and add the profit to that amount.