Money Ideas For Kids

Fun Money Ideas For Kids

We all want the best for our children. We want to teach them the things that we wish someone would have taught us earlier in life. Since my son was born, it has made me think of things I want him to learn from me. Being a finance person, money management and budgeting money came into mind as for how we can instill in my son the importance of taking care of his money. Kids normally don’t see the value of money, or the importance of money, at a young age. Now that you’ve mastered your own budget, I wanted to share some fun money ideas for kids.

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Money Ideas For Kids
A lot can be learned from a piggy bank!

This has to be one of my favorite money ideas for kids to learn how to budget. (Actually probably one of my favorite for adults as well. ) The concept is simple. Have different jars for different goals for your kids. Let’s say your kid really wants that new video game that all the other kids are playing, but he also wants that cool new watch, and you obviously want them to save money. Set up 3 jars and label them. Each time your child gets an allowance, birthday money, etc., he can choose where to put the money, with the requirement that at least part goes towards the savings jar.

The goal here is to teach your child that they can still purchase the items they want while saving money. They will also learn how to prioritize their purchases. It is easy for a child to want everything they hear about, but here they have to think about what they want first.

I do this in my personal life, calling them spending accounts, and it helps me think of what I actually want to spend money on, and how much. Hopefully, the habits stick with them as they grow old.

Working For Your Money or Allowance?

This one is a little more controversial. Some parents like the idea of kids learning that you have to work for your money. Others believe that you shouldn’t reward your child for tasks that they should be willing to do to help out with. Whatever way you want to phrase it to your kids, having them spend their own money makes a difference in their mentality. They’ll now they have to save (even if you help out a bit at the cash register) before they get the item they want.

How much you give your child is up to you! I’ve seen recommendations on anything from 50 cents to $1 per year of age.

Report Card Pay Out

This is one of money ideas for kids my dad started with us. Aside from our allowance, he would give us $10 for every A, $5 for every B, $0 for C, -$5 for D, $10 for every F. This one goes back to the idea of your child being rewarded for tasks they should do already. But I can say from experience, it was fun growing up competing against my brothers. Our allowance wasn’t high (and honestly it was sporadic) even through our high school years, so we looked forward to this. It was our little quarterly bonus.

Open A Bank Account

They are going to need one eventually aren’t they? Some banks offer free child accounts with no monthly service fee, and no option to be able to overdraft. Usually the child needs to be about 13, and must be joined by a parent. Kids love having their own debit card to use, and parents love being able to monitor spending. This can teach kids not only budgeting techniques, but how the banking system works.


I remember in elementary school, we saw a big bag of assorted chocolates at the store. My dad tried to convince us we couldn’t eat it all, but my brother suggested that we would sell whatever we didn’t eat. That started our first business venture of selling candy on the bus. We pretty much ran the candy business and became the candy moguls of the school! Sure we only profited like $5 a bag, which we split between us, but the excitement of selling was better than the money.

A lemonade stand is another business idea for kids. Track profits and loss. Teach them what those words even mean! At the end of the experiment, your kids will have entertained themselves for some time, and maybe learned some skills that might be useful later in life. Just be careful you don’t get fined for running an illegal lemonade operation!


Money Ideas For KidsDoes your child like Disney? How about gifting them a share of a company they like and following the price changes. It’s a great introduction to the stock market and investing from an early age. As they get older, there are plenty of ‘virtual’ stock market sites you can invest through without actually investing. This might teach mommy and daddy a bit about investing as well!

What Do You Implement With Your Kids?

Not implementing any technique with your kids can cause you to become your child’s emergency fund in the future! Work to create good habits as early as possible.

What fun money ideas for kids has worked the best with your own? Post in the comments or contact me if you’d like to be featured!


Published by Gabe A

Gabe A. is the creator of The Shiny Dollar. Besides writing and helping others with their finances, he loves to travel and spend time with his family.


What a great post! I totally agree with these ideas. It is important for us as parents to instill proper money management skills in our children. I haven’t thought about the investment part though— I’m actually interested myself!

We do piggy banks, allowance, and a youth bank account with our daughter.


I honestly don’t know what makes us who we are when it comes to money… My brothers are the opposite of me and spend it all, and we grew up in the same household. I do think that laying down a good foundation is important though so I plan on using a few of these with my kids.

Thanks for your comment Ondria!


Great post! In regards to chores, have a chore chart that has chores that need to be done first (2 or 3) and then a list of chores that can be done afterwards with different earning potential. Some are worth $0.25 and some worth $2.00.

I’m hoping it’ll help teach our kids that there are also things you’re going to have to do that you don’t want to do when you’re an adult – and you don’t get paid for those either. We haven’t given them a bank account yet, but we will be in the new year!
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Hi Allie!

Thats actually a great idea! That solves one of the big problems. I know I will have more money than my parents did when I was a kid, but I also don’t want to spoil my kids. I think making them ‘work’ for it, or earn it, can make that difference.


Fantastic article!! I don’t have kids yet but certainly want to instill a strong understanding of the value of money. When did you start your kids on the moonjars? That seems like something that could be done at a fairly young age.
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My son is 5 months old so not yet! lol. I got the idea when I used to work private banking and we had them as promotional items to give to clients with kids. It hit me one day that I was doing the same thing but with bank accounts. I definitely want to start him young on this. Im assuming by age 5 or 6 he’ll start going into stores and wanted a bunch of different things, so that will be the introduction.

Thanks for your comment Laura!


I got money for getting A’s too! My dad gave us $10 for each ‘A’.

We plan to not give allowance for existing int he household but if the kid(s) do extra chores (on top of the expected chores) they will get some money.

You’re getting started early for financial planning for your child, Gabe!
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Lol yeah Im a planner. We opened up a savings account for him about 7 months before he was born, and started talking about allowance a few months after that! Yeah I might do a combination of things, especially as he gets older and needs to stay motivated and focused in those awesome teen years.

Now its going to be a game of how to make sure he has enough without having too much to not care about things such as earning those As!

Thanks GYM!


You and your brother are awesome for starting a little candy business lol. Very smart!

Someone told me a story a long time ago. There was a kid who went to a private school and their dress code includes a tie to be worn at all times when in school. He created a business where his classmates can rent a tie from him. Smart and creative lol.
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Lol man now I wish I would have capitalized on a ‘need’! I was going after the easy sweet tooth market!


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