Letting your child step into the world of money might sound scary. Here, we are not talking about child labor, but about letting them invest themselves into making money out of their skills, to help them get involved in internships, part-time jobs etc.

Every home has a different story, every family has a different story and every individual has a different story. “Children”, and “Money”, are themselves very sensitive topics to talk about. We often find a child having to earn money because of the poor financial condition of the family and some of them just do it because they are interested. So, is there any right age to start earning? Do people want to work vigorously from an early age or is the situation to blame for that? Nobody knows!

We had a conversation with a few parents and everyone had an interesting story to share.

  • “My son of twelve years, is really into uploading cover songs on YouTube and gets paid. His father edits the videos and he is learning to edit as well.”- Meena Shrestha.
  • “I think my daughter is too young to start earning. She needs to live life until we, parents can afford things for her. She has a lot of time to start stressing about money.”- Roshan Thapa.
  • “I don’t even let my child do home chores even when he is 19, so forget about him having to start doing a job.”- Ashika Mainali.
  • “We are a family of 8 and I alone cannot afford to make a good living for everyone. All of them are above 15, so they have already started earning.”- Ambika Dulal.

There is no particular age for getting involved in the financial sector. However, it is believed that the sooner a child understands the value of money, the sooner he/she will get more mature and responsible towards their life. They don’t have to start getting paid, but it is the responsibility of parents to get them involved in some kind of work to keep them busy constructively. It could be internships, part-time jobs, or full-time jobs given the scenario of children.

  • As a kid, maybe your child could get involved in simple work like walking a neighbor's dog around, or even selling old toys online. It is not about the money only; it is about learning. These kinds of work will make their leisure time fruitful and constructive. They will not only learn the value of money but also the value of time, and become responsible. Maybe they can get creative to doodle and DIY something they like, and sell it to their friends. Options are many more if we get invested in that. 
  • When your child is a teen, you could help them get involved in some sort of internship or a small business. This is an era of science and technology that could be used correctly. Vlogs, songs, dance, DIYs, or any kind of content that your child is interested in. Freelancing can also be an option, the flexibility of which can be the plus point to take it further. Other jobs include writing blog posts, designing logos, editing a podcast, or creating a website, etc. 
  • The Early twenties could be the time when your child can start a part-time job in the area of their competency. Tutoring, social media platforms, internships, freelancing, and many more. At this age, getting involved in such will let them be independent, decisive, and responsible. It will help them grab the track of their future.

 

Why should your child earn money from an early age? 

  • Earning helps children to develop self-esteem and learn life skills.
  •  The ability to make decisions, be critical towards life and the skill of management enhance as time progresses for them. 
  • They will understand the value of money, and how to manage them.
  • They will be motivated to use their creativity and skill in the right way.
  • They will understand your struggles and become serious about life.

Not to deny that sometimes, it could get overwhelming to be dealing with jobs, given that at a young age, school and assignments are already a big load to them. No matter what you are involved in, making money out of it is going to be hectic and without a doubt, there will be a lot of pressure, but that is what makes them a stronger person and get to learn the skills needed for the future. There are cases of teens getting their life deconstructed due to the lack of proper guidance as well. they earned a lot but had no idea of investments and saving and hence used it all in drugs and other addictions. In the cases where the children are earning money, it is the parent’s responsibility to keep an eye on them and encourage them to invest instead of spending it for no reason. The main idea of letting your child earn money from an early age is to build them as an individual rather than just money. It is for helping them develop their cognitive skills and respect work.