How to Make $100 as a Kid With Real Jobs

Earning money offers young individuals financial independence and the ability to purchase desired items. This process teaches valuable lessons, building a foundation for future financial literacy. It fosters a sense of accomplishment and helps develop responsible financial habits.

Age-Appropriate Earning Opportunities

Younger children can begin their earning journey by helping with household responsibilities. Tasks like watering plants, making their bed, or tidying up their room can be structured to earn small amounts. Assisting with family meals, such as washing vegetables or setting the table, also provides opportunities to contribute and earn. For slightly older children, additional chores like sorting laundry, cleaning their room, or sweeping floors can be added.

Expanding beyond the home, neighborhood services offer accessible ways to earn. Offering to wash cars for neighbors or helping with yard work like raking leaves can generate income. Younger children can also explore entrepreneurial ventures such as setting up a lemonade stand or organizing a bake sale. Selling handmade crafts or artwork, like friendship bracelets, allows creative children to turn hobbies into income by offering their creations to family, friends, or at small local events.

For pre-teens and early teenagers, more involved services become suitable. Pet care, including dog walking or pet sitting for neighbors, is a popular option. Babysitting is another common first job. These roles offer opportunities to earn a solid hourly rate while building a reputation for reliability.

Other odd jobs around the neighborhood can also prove profitable. Offering to clean trash cans, assist with gardening services like weeding or planting, or even shoveling snow in winter can provide a steady stream of income. Older children who excel in academics might consider tutoring younger students. These diverse opportunities allow young earners to find activities that match their skills and interests.

Important Considerations for Young Earners

Before starting any earning venture, young individuals should discuss their plans with a parent or guardian. Parental involvement ensures appropriate supervision and permission for activities. Parents can help guide decisions, ensuring the earning activities are safe and suitable for the child’s age and maturity level.

Safety should always be a primary concern when earning money. Children should only work in familiar environments and never go to unknown places alone. It is important to inform parents of any plans, including who they will be working for and where. When walking to and from jobs, sticking to well-lit, populated areas and avoiding shortcuts through isolated spots.

Reliability and responsibility are qualities that build a positive reputation. Committing to tasks, being punctual, and delivering good work ensures clients are satisfied. Setting a fair price for services is also important; research what others charge for similar tasks, and agree on a price before work begins to prevent misunderstandings.

Regarding financial obligations, for small amounts like $100, tax implications are typically minimal for young earners. A dependent child generally needs to file a federal tax return only if their earned income exceeds the standard deduction for single filers, which is $14,600 for tax year 2024. If a child’s income is solely from earned sources and falls below this threshold, they usually do not owe federal income tax. However, if any federal income tax was withheld from their earnings, filing a return would be necessary to receive a refund.

Handling Your Money

Once money is earned, management is important. A simple method for handling money is to divide it into categories, such as “Earn, Save, Spend, and Give.” Setting specific savings goals, whether for a desired toy or a larger future purchase, provides motivation to save a portion of earnings.

Savings can be kept in a clear jar at home to visually track progress. As children get older, opening a savings account at a bank can introduce them to banking transactions and earning interest. Parents often open these accounts as joint or custodial accounts, allowing the child to learn about money management while providing adult oversight.

When spending, it is useful to distinguish between “needs” and “wants.” This practice helps children understand the value of their money and prioritize their spending.

The “Give” category introduces the concept of charity. Allocating a small portion of earnings to a cause can foster generosity. This approach to money management, encompassing earning, saving, spending, and giving, provides a practical foundation for financial literacy.