The Ultimate Guide to Help your Kids Earn Money This Summer
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SUMMER IS HERE! And now is the time to finalize the summer plans… what to do, what to get… and the plan to achieve all of these. So let’s talk about kids and their summer money plan.
It was a very strange last day of school. No half-day. No end of the year parties. No handing out gifts to the teachers and classmates. No signing yearbooks. Heck, I don’t even know if they are getting yearbooks this year.
Yes, the shutdown of 2020 has literally changed our lives. We wait for a new surprise announcement around every corner.
But one thing I do know right now… is yes, today IS the last day of school and my kids are EXCITED!
There are 2 things we do every last day of school:
- I plan out my summer reading list #booksarelife
- The kids plan out their summer money plan
Yes, their money plan. In other words, what do they want and how are they going to raise money to get it.
PIN THIS NOW FOR EASY REFERENCE LATER
So far today, we have talked about my 15 and 13-year-olds making fliers to market their “Grass Clippings” service for our neighbors.
My 10-year-old on the other hand is creating a plan to sell his mouth-watering, perfectly soft, and chewy cookies to friends and family.
As for my 3-year-old daughter… well according to dad, she won’t have to work… ever! Haha!
So what are some things your kids can do this summer to earn some extra money?
Well, I always love starting with a GOAL!
GET THE FREE KIDS SUMMER MONEY PLANNER HERE!
WHAT DO THEY WANT?
Big or small doesn’t matter, teaching goal setting is an amazing life skill that will serve them well for the rest of their lives.
According to Positive Psychology:
“Aside from helping them believe in themselves and setting them up for success in school, goal setting also benefits children and students in many ways, including:
- Improving self-image
- Increasing awareness of one’s strengths
- Increasing awareness of one’s weaknesses
- Providing an experience of success
- Facilitating effective visualization
- Clarifying the path ahead
- Encouraging prioritization
- Defining reality and separating it from wishful thinking
- Building responsibility for one’s self
- Improving decision making”
My 10-year-old son has had his eye on a Nintendo Switch for a long time on the other hand my 15-year-old son is saving money for car insurance and gas money because driving is literally around the corner for him.
So the goal doesn’t have to be a “thing” it can be a specific amount to buffer up the savings account.
When you both agree on what they want then move on to how to get it.
HOW WILL THEY ACCOMPLISH IT?
What is the action plan with specific action steps?
The plan must be clear and doable.
Break it down to daily and/or weekly activities that must be done.
Make this as clear and simple in their minds.
Raise their belief by not only mapping out a very doable plan but also encouraging and uplifting them.
Tell them you believe in them… often.
SPEAK IT
Help your child create positive affirmations over their goal and their life.
My kids have their affirmations hanging up in their bathrooms. They have found that’s the best place for them to review and speak them as they are getting ready in the morning and before they go to bed at night.
Remind them to speak their goal every day.
PRO TIP: Speak these confessions as if they ALREADY HAVE THEM.
For example:
- Do NOT say: I hope to reach my goal, I hope someday I will get ____, I will get my ___, I will go ____, I will be ______, I will have _______, etc.
- DO say: I smashed my goal, I have _______, I enjoy playing with my new ____, I loved going to ___________, I feel so happy that I ___________, etc.
Want to learn more about the power of positive affirmations and what to say to yourself? Then this book is a must!
SEE IT
Hang up pictures of what it is they want as well. There is so much power in seeing a visual picture of something you want.
My son has a picture of a Nintendo Switch hanging up and my other son has a picture of a car. These serve as constant reminders of why they are doing what they are doing.
Here’s a picture of my daughter at 2-years-old pointing at an American Girl Doll she wanted for her birthday. We posted it right on her wall next to her bed.
Want to learn more about the power of speaking and visualizing over your life? Then definitely head over here.
CHECK-IN DAILY
Use some sort of tracking chart or mechanism as a visual of daily progress.
This visual is vitally important to successful goal setting.
If you don’t know where you are how can you know how much further you have to go?
You can’t fix what you don’t track.
I have included 2 different tracking chart options in the Kids Summer Money Planner, be sure to get this 6-page planner… it’s FREE!
REVISE IF NECESSARY
Review progress and revise if necessary.
How’s the timeline looking? What needs to be adjusted?
These are such awesome and powerful conversations to have. Where they may feel like giving up, this gives you the opportunity to work together to devise a new plan and still hit the goal!
CELEBRATE!
Definitely make hitting their goal a big deal!!!
Along with them getting what they worked for we usually also add a dinner out to their favorite restaurant or a quick cone from their favorite ice cream shop.
And we usually, obnoxiously, chant their name out in public… it’s totally embarrassing, but they secretly love it.
Then again, when they actually get the thing they worked for we make the receiving of it or the opening a big deal as well. Taking pictures and videos, etc.
You get the idea.
Ok, so now what?
LET’S GET TO WORK
Here are some simple ideas to help them start brainstorming:
- Pet Sitter
- Dog walker
- Babysitter
- Sell Baked Goods
- Lemonade Stand
- Car Detailing Service
- Lawnmowing Service
- Cleaning Service
- Resell Items
- Chores and projects around the house
Struggling with your kids and their chores? Want deeper insight on how to make them happen and enjoyable?
Then definitely check this out!
HOW MUCH?
Show them how to do market research and find comparisons. Agree upon a price to charge for their goods and services.
For example, Joanna Gaines sells a dozen of her cookies for $35 + shipping… we aren’t quite to that level (yet) so we need to research local small-town bakeries to get a better idea.
We also need to determine the cost of our supplies and make a budget. How much do we need to sell to start making a profit, etc?
For the grass clippings business we need to factor in the cost of gas and any equipment supplies and maintenance that is needed.
Our kids know what the next step is for pretty much everything in life…
MAKE A LIST
Who can they contact to help grow their business?
How can they get the word out?
- Phone Calls
- Online
- Fliers
- Word of mouth
- Referrals
- Door to door
- Social Media
- Website
This is a fantastic time to teach the power of brainstorming. Aka #braindumping
Our preferred method are good old fashioned phone calls!
Yup, any time my kids have a fundraiser or something they want to sell we make them hit the phones first. The only time we allow them to text is to set up a time to talk to the person over the phone.
So much to be learned while making a phone call to someone asking them for support or to buy something from them.
My husband and I could easily do this for them but we don’t ever want to take away from that experience. There’s so much growth in this part of the process.
EXAMPLE
A few years ago, my 13-year-old set a goal for himself one year to hit a $1,000 sales goal for his fundraiser at school.
It was that he wanted to sell $1,000 it’s that he really wanted the thing that they would give him if he did.
He hung up the picture of the prize he would get, he wrote out his affirmations then got to work.
He made a list, wrote out a script, he texted his list, set up solid appointments with dates and times, then night after night he made the calls.
He is not a shy kid but he was so nervous and red-faced through most of the calls but he kept pushing through until he hit his goal!
Come to find out he sold the most out of everyone in his entire school!!!
You should have seen the pride.
INVALUABLE LESSONS
This taught him so much about
- goal setting
- proper preparation
- time management
- calendar planning
- and executing no matter how scared or nervous he was!
CAUTION:
My kids are not on social media and won’t be until they are adults. So any social media marketing is done through my accounts from them… they do the work though. They would post a video of themselves talking for example. I don’t hit up my network for my kids, they do the work.
I also would never send my kids out door to door by themselves. I advise extreme caution in these scenarios.
WHEN THEY DON’T HIT THE GOAL
Be sure to discuss what will happen if they do not follow through on the action plan.
As hard as it is, my husband and I stick to our guns on this part. If they do not follow through on the agreed-upon action plan then they DO NOT get the agreed-upon reward.
If they quit, they lose. Period.
This is the time you can sit down and review what the goal was, what the plan was, what happened, what didn’t happen, and why they are not able to get what they wanted.
This is a golden teaching opportunity. It is a precious moment that I beg of you not to miss out on.
Encourage and uplift them, no matter what. Tell them how awesome they are and how much you believe in them.
A key to a successful life is to
TRY… FAIL… ADJUST… CONTINUE.
Don’t show them how to quit… show them how to dust themselves off and start over. This is so powerful.
So there you have it… a solid plan to help your kids make money this summer!
What does your family do to prepare for the summer? I’d love to hear in the comments below.
If you haven’t yet be sure to grab the FREE Kids Summer Money Planner!
