How to Make Money at the Age of 11
Empower 11-year-olds with practical skills to earn money, build financial literacy, and gain independence safely.
Earning money at a young age offers valuable lessons beyond just accumulating funds. It fosters responsibility, cultivates financial literacy, and builds a sense of independence that can benefit a young person for years to come. Understanding how to earn, manage, and protect money early on provides a practical foundation for future financial well-being. This journey teaches the effort required to achieve goals, instilling a greater appreciation for resources.
Age-Appropriate Earning Opportunities
Eleven-year-olds can find many opportunities to earn money through common, accessible tasks. Many young people begin by offering yard work services to neighbors or family friends. This can involve raking leaves ($10-$50 per yard depending on size), cutting small lawns ($10-$15), or watering plants and pulling weeds (typically $5 per hour).
Caring for pets is another popular option. Pet sitting includes feeding, watering, cleaning up, and playing with animals. Dog walking is also a viable service, as is dog waste cleanup ($10-$20 per yard or weekly). Babysitting is a suitable activity, often earning $5-$10 per hour, especially for family members or with adult supervision.
Household chores and neighborhood assistance also present earning possibilities. This might involve washing cars, helping with spring cleaning, decluttering, bringing in mail, or taking out garbage cans. These jobs provide practical experience and allow for flexible scheduling.
Finding and Securing Work
Earning opportunities often begin with direct communication within one’s community. Young earners can start by asking family members or neighbors if they need help with tasks. Simple conversations can lead to initial earning opportunities, building confidence and experience.
To expand the search, creating basic flyers listing services and contact information can be effective. These can be distributed to neighbors or posted on community bulletin boards. Emphasizing reliability and willingness to help attracts more work. Parental involvement is often helpful for initial outreach, ensuring clear communication and establishing trust.
Managing Your Money
Once money is earned, learning to manage it effectively is an important step for young individuals. A practical approach involves dividing earnings into categories: saving, spending, and potentially sharing or donating. Setting financial goals, such as saving for a specific item, provides motivation and teaches the value of delayed gratification.
Opening a bank account, often with parental assistance, provides a secure place for funds and introduces banking concepts. Tracking earnings and expenses, even in a simple notebook, fosters an understanding of personal finances. This practice builds habits that support long-term financial independence.
Safety and Legal Considerations
Safety is the primary consideration when a young person earns money. Working in familiar environments, like a neighbor’s yard or a family friend’s home, is advisable. Parental supervision is important, especially for new tasks or clients, to ensure a secure working environment and emergency plans. Young earners should never provide personal identifying information, such as a Social Security number or home address, to unfamiliar individuals. It is also important to use strong, unique passwords and be cautious with online earning activities.
The Fair Labor Standards Act (FLSA) generally prohibits employment for children under 14 in non-agricultural occupations. However, this federal law exempts casual babysitting, minor chores around a private home, and delivering newspapers, which are typical activities for an 11-year-old. These occasional odd jobs are usually not considered formal employment and fall outside stricter child labor regulations that apply to older minors in formal employment.
Income earned by minors may have tax filing requirements. For the 2024 tax year, a dependent generally needs to file a federal income tax return if their earned income exceeds the greater of $1,300 or their earned income plus $450 (up to the full standard deduction of $14,600). If a child’s earned income is below this threshold, they typically do not owe federal income tax. However, if a minor has self-employment income exceeding $400, they may be subject to Social Security and Medicare taxes, regardless of total earnings. Additionally, “kiddie tax” rules apply to unearned income (such as interest or dividends) above certain thresholds ($1,300 for 2024) and may be taxed at the parent’s marginal rate if it exceeds $2,600 for 2024. Parents should review these thresholds annually.