Hey there.

So glad you could join us for this week’s edition of Mini Millionaires.

It’s hard to figure out what to teach kids about money if they don’t even have any of their own.

So this week, we’re unpacking: How to teach kids to earn their own money.

We’ve got some simple, practical ways to help you help them learn how they can create value, a rock-solid way to make earning an everyday rhythm, and use a real goal to make the lesson stick.

We also got a message from one of our Mini Millionaire fams (In Auckland, of all places)…

“Our daughter gets a weekly allowance of $5, but earns extra if she does chores like: fold and pack away her clean clothes, or when she empties out the dishwasher (score for the parents who don't have to do it).

I sometimes commission a drawing and pay her for creating a birthday card for one of my friends. 

We want her to learn that she can make money from the things that she likes doing and is good at.”

Yay! That’s so awesome to hear. Keep those DMs and replies coming. We’ve loved hearing from you.

Let’s get at it.

One of the most empowering money lessons we can teach our mini millionaires is how to earn their own money.

It builds resourcefulness, confidence, and the understanding that money isn’t just something that magically appears (although that would be pretty cool). Whether it’s selling something homemade or helping someone with a task, earning teaches kids about putting in effort, creating value, and gaining independence. 

In this edition, we’re looking at one mindset to nurture, one habit to practice, and one tip to try, all designed to help your child take their first steps into the world of earning.

Help them see they’re capable of creating value.

The mindset shift starts when kids see themselves as creators. 

Self-determination theory suggests that children have a natural drive to grow, master challenges, and take ownership of their actions. When they’re given autonomy and meaningful responsibility, their motivation and perseverance increase.

Encouraging them to brainstorm ways to help others, make or create things, or solve a problem taps into this sense of agency. The key is helping them connect their effort with value, and value with income.

Takeaway: Let your child see that their ideas and effort have real-world value.

Offer small, regular chances to earn in your everyday routines.

Kids don’t need elaborate businesses to learn how earning works. 

A simple, consistent “earning board” at home can do the trick. This teaches them the rhythm of effort and reward on a regular basis. We’re talking washing the car, not making their bed.

Think about how rewarding them for certain chores actually has a pretty low barrier to entry. It’s not like you’ve got to go out and buy stock to sell or supplies to make something. 

Children learn more effectively when financial behaviours are practiced regularly in real contexts. So let your child choose a task from the board, complete it, and get paid.

Takeaway: Regular practice beats once-off lessons.

Use a real goal to guide their first earning experience.

Instead of just handing out pocket money, help your child earn towards something they want. 

Start small: talk about the item or experience they want, break down the cost, and brainstorm a few age-appropriate ways they could work towards it. Add a progress tracker to make the journey visible.

There’s an important relationship between future-oriented thought and a student’s academic engagement and performance, so talking about the item they’re working towards has a major impact.

Takeaway: A clear, personal goal helps kids stay motivated and connect the dots between effort and reward.

Every family handles chores differently. 

Some chores are just part of pitching in, like making your bed. While others, like washing Dad’s car, come with a little pocket money. Either way, our printable Chore Tracker helps kids connect effort with earnings in a fun, visual way.

Use it to track extra tasks (like washing the car or helping with the garden) and show them how their efforts (in time and energy) can turn into income. (Pssst: If you want to keep track of other chores but not pay for them, simply add them to the chart but give them a reward value of R0.)

It’s a simple tool to reinforce this week’s lesson: Money isn’t magic; it needs to be earned.

Print it, laminate it, stick it to the fridge, and start tracking those chores.

FinMaster is the ultimate family game night flex.

Players earn, invest, and outsmart their way to the top. From buying assets to dodging market crashes, every turn builds financial confidence (not to mention a bit of friendly competition).

Forget fake money. These are real-world money moves.

It’s just like that classic roll-the-dice, buy-some-property game… If it went to business school and learnt how to be fun and short!

Perfect for kids ready to take their money mindset to the next level.

Because earning is just the start.

Order our popular board game FinMaster right away.

Last week, we asked, ‘What does giving look like in your household?’ and giving is a spontaneous thing - we love to see it.

🟨🟨🟨⬜️⬜️ 🧒 We give as a family and involve our kids in the decision-making.

🟩🟩🟩🟩🟩 🎁 Giving happens, but it’s more spontaneous.

⬜️⬜️⬜️⬜️⬜️ 🌱 We haven’t really started, but we’d like to.

⬜️⬜️⬜️⬜️⬜️ 💬 We talk about generosity in other ways (e.g., time, kindness).

⬜️⬜️⬜️⬜️⬜️ 🐾 Our kids choose a cause and give to it regularly.

What you said: 

“We've got a combination of regular recurring sharing/giving, but then also spontaneously, as things arise. It's an important thing for us to impart to our kids. Now to figure out the sharing of toys with their sibling - hahaha”

Once you figure it out, let us know. We can make a lot of money selling that particular e-book. Have you tried making sharing of toys a chore they can earn money for? 🤣

What’s the 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.

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