Hey there, 

It’s time for this week’s edition of Mini Millionaires. 

This week, we’re talking about how to teach kids about multiple income streams. Cause let’s face it, you’ve gotta have money coming in before you can have some going out.

As always, we’ve loved hearing about your mini-millionaires’ journey so far. Please keep sending those replies.

So, let’s kick off this week’s Mini Millionaires: How to teach kids about multiple income streams.

Smart Money Moves

• 💸 More Than One: Income streams. Everywhere.

• 🏄‍♂️ Incoming: Where’s their money coming from? 

• 🛼 Game On: Just roll with it.

• 📝 What you said: The most NB spend to track.

Money Smart

Teaching kids about multiple income streams

One of the biggest financial lessons Covid taught us was that relying on just one source of income is risky. 

When jobs paused and businesses shut down, many families were left scrambling. 

But it also sparked something powerful: People got creative. 

They found new ways to earn, often from the comfort of their homes. 

And with the rise in the gig economy, online platforms, and flexible work options, having multiple income streams is more possible than ever before. 

And isn't that kind of innovative, creative, entrepreneurial spirit exactly the kind of thing that helps make mini millionaires? 

1. A mindset to cultivate

Don’t put all your eggs in one basket.

Most of us grew up thinking money comes from one place: a job or an allowance. 

But one of the best money mindsets is that income can come from many different sources. And the more, the better. 

It’s not just about making more money, but think of the flexibility, freedom, and resilience that multiple sources of income can offer. 

Here’s a really simple way to explain it to them: “If one tap in our home stops working, we still have others to get water from.” 

Takeaway: Teach your child that money doesn’t have to come from just one tap. They can build their own toolkit of income streams.

2. A habit to form

Thinking beyond a single paycheck: a habit to last a lifetime

Believe it or not, kids are natural entrepreneurs. 

They’re curious, are willing to experiment, and exhibit innovative thinking (all characteristics of successful entrepreneurs).

So get their ideas engine flowing with questions like: “What’s one new way you could earn this month?”

Encourage them to see beyond chores. Maybe they could draw something to sell, wash a neighbour’s car, or trade toys they’ve outgrown. Let them try, fail, and adjust. 

That experimentation builds confidence, and keeps their thinking flexible and fun.

Takeaway: Get them into the habit of asking, “What’s another way I could earn?”. Celebrate effort, not just income.

3. A tip/trick to try

Create “Money Streams” jars (or boxes)

Label 3 or 4 jars or boxes as follows (or write it down in the Money Map Money Coming In resource we’re sharing below) :  

• Earned (from work like chores) 

• Sold (items they made or found) 

• Shared (gifts or pocket money)

• Passive (money that comes in without more work, like royalties or rentals) 

When they get money, ask: “Which stream is this from?” Over time, they’ll begin to understand the different ways money flows. 

Something really important to remember is that experimenting with different streams is perfectly fine while they’re trying to find something that works. But once they’ve found it, focus in on that one stream first to master it and maximise the returns. 

Takeaway: Let your child see their income streams. It makes the concept real, visual, and empowering.

Your Thoughts…

Use This

Money Incoming.

This week’s free, downloadable, printable resource is our Money Map: Money Coming In.

Simply write down each and every single source of income. 

Anything from pocket money for chores, around the house, a service business like dog walking or lawn mowing, to selling a handmade product or digital offering online. Even birthday money, or coins from the tooth fairy (hey, we’re not judging).

This helps them to:

1. Keep track of every income source.

2. Lay the foundations of a budget from an early age.

3. Allocate certain income sources to certain expenses on the other side of the Money Map (spending, saving, sharing, and sowing).

We also include some thought and conversation starters like: “Which source of income would you like to focus on next time?”, “Think of any other ways to earn money?”, and “Ask three adults how they earn money”.

Such great ways to help them think differently about earning.

Game On

Just roll with it.

Our FinMaster board game is already helping mini millionaires around the country play their way to wealth by making financial education fun and accessible.

With our FinMaster board game, you can: 

• Buy exciting assets and build your portfolio.

• Prepare for the ups & downs of market events.

• Use sneaky powers to gain the upper hand!

• And build wealth to claim the title of ultimate FinMaster!

Help your mini millionaires make smart money moves by getting your hands on the next drop of FinMaster.

The Tribe Has Spoken

Last week’s Poll asked: “What’s the most important spend to track?”, and looks like we’re all on the same page to track every single amount we spend.

⬜️⬜️⬜️⬜️⬜️ 🍬 Small daily treats. Those sure add up!

⬜️⬜️⬜️⬜️⬜️ 🎁 Big purchases. Harder to undo.

⬜️⬜️⬜️⬜️⬜️ 🎉 Impulse buys. Often comes with regrets.

🟩🟩🟩🟩🟩 💸 All of it. Every Rand counts.

⬜️⬜️⬜️⬜️⬜️ 🤷‍♀️ Just the spend I feel like.

What you said: 

“Every single item - even bank/transaction fees. Else you're left wondering why there's a hole in your budget, and a difference between income and expenses.”

Oh absolutely. Reminds us of that Andrew Carnegie quote we shared in last week’s Mini Millionaires “Look after the pennies and the pounds will look after themselves.”

“Everything, honestly even that R10+ to the car guard”

Nice one. Scary how quickly those seemingly small spending amounts stack up over the month.

Let’s Connect

What’s one of today’s mindset, habit, or tip you want to try this week?

What worked, what didn’t? Or is there something that’s got you and your mini millionaire excited? 

We’d love to get your thoughts, so hit reply to this email and let us know what's on your mind.

PS: Did someone forward you this email? Subscribe here.