Learn how to teach kids to earn their own money with practical tips, mindset shifts, and a free chore tracker to build real-world financial habits to get them earning
It builds confidence, resourcefulness, and a practical understanding that money isn’t just something that magically appears (wouldn’t that be nice, though). Whether they’re selling something they made or helping out with chores, the act of earning teaches kids that effort creates value, and value can be exchanged for income.
In this post, we’ll walk through one mindset to cultivate, one habit to form, and one practical tip to try as your mini millionaire begins their first steps into the world of earning.
Help them see they’re capable of creating value.
The mindset shift starts when kids see themselves as creators and that they can use their skills, time and ideas to help others.
Self-determination theory suggests that children have a natural drive to grow, master challenges and take ownership of their actions. And with autonomy and responsibility, motivation and perseverance increase.
Start small: Get them to think about how they could help others, make something, or solve a problem. Show them how their effort becomes value, and value becomes income.
Takeaway: Let your child see their ideas and effort have real-world value.
Learn how to teach kids to turn skills into income.
Offer regular chances to earn in everyday routines.
Kids don’t need a startup or a side hustle to learn how earning works. A simple, consistent system at home is perfectly fine.
Set up a chore chart that includes tasks with a reward value, like washing the car or helping with the garden. These tasks should go beyond everyday responsibilities like making their bed. The key is giving them low-barrier opportunities to put in effort and see the reward.
Children learn more effectively when financial behaviours are practiced regularly in real contexts.
Takeaway: Give them regular chances to choose a task, complete it, and earn their reward.
So they've earned it, but what about how the spend it? Read: how to teach kids to track their spending.
Use a real goal to guide their first earning experience.
Instead of just handing out pocket money, tie the experience to something they care about.
Talk about the item or experience they want, break down the cost, and brainstorm ways they could work towards it. Use a progress tracker to make the journey visible and exciting.
There’s an important relationship between future-oriented thought and a student’s academic engagement and performance, so talking about the item they’re working towards has a major impact.
Takeaway: A clear, personal goal helps kids stay motivated and connect the dots between effort and reward.
You might also find how to teach kids to start a business helpful.
One of the best money lessons we can teach kids is how to earn their own money.
Every family handles chores differently. Some are just part of contributing to the household (like tidying a bedroom), while others might come with a small reward (like cleaning the car or helping in the garden).
Our printable Chore Tracker helps kids connect effort with earnings in a fun, visual way. It’s a great tool to reinforce the lesson that money gets earned.
Use it to track extra tasks and the small amounts they earn from each one.
Print it, laminate it, stick it on the fridge and start tracking those earnings.
