TeachMeAboutMoney.org

How to Make Money

Learn to Earn

Where does money come from? Hint: It doesn't really grow on trees.

Most people get money by earning it, and that money is called income. When you earn income, you trade your time and effort for dollars-in other words, you work. The money you earn from work allows you to do two important things: spend and save.

You're not too young to earn your own money. In fact, when you learn to earn, you'll gain other important skills that will help you succeed in life: how to use time wisely and how to work with other people, for starters.

To Figure Out How You Could Earn Income, Ask Yourself:

  • What specials skills and talents do I have?
  • How do I enjoy spending my time?
  • Do my friends, family, or neighbors need help with something?
  • Are there things I have at home or could borrow-like a computer, tools, or art supplies-that I could use to earn money?

Here's an example:

Dylan is saving money to buy a birthday present for his grandmother. He loves to be outside, so he asks to neighbors to hire him to do outside chores during the summer vacation.

Mr. Jones offers to pay Dylan $10 per week for the next 10 weeks to mow his lawn. Another neighbor, Mrs. Banks, offers him $20 to plant flowers in her front yard for one day. Dylan accepts both offers. How much will he earn this summer?

Money Calculation

Ask an adult: What was your first job? How much money did you earn?

Source: Federal Reserve Bank of Cleveland

ProWebsite provided by newline Creations