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Columns | Go Far With Kovar

Empowering Kids -
Summer Money-Making Ideas

by Taylor Kovar

April 24, 2023

Hi Taylor - As a parent, I want to encourage my child to be financially responsible and develop leadership skills during their summer break. What money-making opportunities can you suggest for kids that will allow them to learn and grow, and how can I ensure their safety while they work on these projects? Lisa in Nashville

Hi Lisa! - It's great to teach kids about financial responsibility and leadership early on, and summer is a wonderful opportunity for children to learn about financial responsibility, develop leadership skills, and make money. As parents, it's essential to guide and supervise them through these activities while prioritizing their safety. Encourage open communication, teach them about setting boundaries, and help them develop a sense of responsibility that will serve them well in the future. Here are some great options, along with safety tips to keep in mind:

1. Lemonade stand or bake sale: These classics not only teach kids about entrepreneurship but also allow them to develop their interpersonal and customer service skills. Encourage them to handle the money transactions, plan their inventory, and market their products. Make sure to supervise your child's activities, especially when they are interacting with the public.

2. Lawn care or yard work:
Many homeowners need help with maintaining their yards during the summer months. This can include mowing lawns, raking leaves, or weeding. Kids can learn time management, hard work, and persistence through this type of service. Be aware of who they are working with and ensure they are in a safe environment.

3. Tutoring or mentoring:
If your child excels in a particular subject, encourage them to tutor younger kids. This not only helps build their own confidence in their abilities but also teaches empathy and leadership skills. Teach your child about setting boundaries and saying no when they feel uncomfortable or unsafe.

4. Pet sitting or dog walking: Many families go on vacation during the summer months and need someone to care for their pets. This is a great opportunity for kids to learn responsibility, time management, and how to communicate with pet owners about their services. Encourage open communication about their experiences and listen to their concerns.

5. Online freelancing: If your child has a skill that can be offered online, such as graphic design, web development, or content writing, they can explore freelancing platforms to find gigs. Monitor their online activity and ensure they are not sharing personal information with strangers. Teach them about online safety and the importance of protecting their privacy.

In addition to these ideas, consider helping your child brainstorm creative ways to use their unique talents and interests to make money. For instance, they could sell handmade crafts, teach music lessons, or organize neighborhood events. The possibilities are endless, and your support and guidance can make a significant difference in their success. Embrace this time as an opportunity to strengthen your bond with your child and cultivate essential life skills that will last a lifetime. For even more ideas and resources, visit TheMoneyKids.com!

Taylor Kovar

"Go Far With Kovar" April 24, 2023 Column


Legal Disclaimer: Information presented is for educational purposes only and is not an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. To submit a question to be answered in this column, please send it via email to Question@GoFarWithKovar.com, or via USPS to Taylor Kovar, 415 S 1st St, Suite 300, Lufkin, TX 75901.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


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