💰 How to teach kids to turn skills into income

Hey there,

Welcome to Week 4 of Mini Millionaires.

Welcome to all of our new sign-ups. We’re excited to be with you on this journey of raising kids who master money.

Thank you to everyone who sent us a message last week. It’s been great to hear from all of you. We love hearing about everything you’d like to learn to teach your Mini Millionaire. So hit reply and let us know.

In this edition, we’re talking first steps to making money: How you can teach your kids to turn their skills and passions into an income.

Let’s go…

Game On

• 🪄 Like magic: Helping kids turn what they’re good at into income

• 🧰 Resource yourself: How to monetise your passions 

• 🎲 Learn by playing: No textbooks required

• ✖️ Your votes tallied: Your favourite part of your budget

Money Smart

Spot the skill, start a business

Most kids don’t know that the things they love doing, like drawing, baking, fixing stuff, dancing, writing, painting, and even helping, can actually be worth something to someone else. 

Never mind that someone would be willing to pay them for that skill.

So when kids learn they can earn through their own skills, they gain confidence, purpose, and a powerful sense of agency. It’s not just about money. It’s about possibility.

Before we dive into a mindset to build, a habit to form, and one tip/trick to help get them going… Here’s a flyer from an art business started by kids who’ve been part of our journey. This is an example of how kids can turn their talents into income and have fun doing it!

1. A Mindset to Cultivate

Skills solve problems. Problems create opportunities.

Kids often only see their talents as “just a fun thing I do.” 

But when they start noticing how their skills can help others, like drawing something cool for a friend, baking muffins for a school event, or helping Grandma navigate her way around a tech device, they start to see the value they can add to others in a very tangible way.

And it goes a long way in helping them understand that their skills aren’t just for school; they can solve real problems for real people in the real world. 

Actively participating in early “employment” or entrepreneurship endeavours sets the scene for them to explore their career options earlier.  

For example: 67% of participants in Lemonade Day (a program that teaches kids how to start, own, and operate their very own lemonade stand) plan to start their own business.

Takeaway: Help your child see their skills through someone else’s eyes. That’s the first step to turning their skills into income.

2. A Habit to Form

Start spotting skills + matching them with needs

Turn skill spotting into a game. Ask: “What are you good at, and who could use that skill?”

Maybe they love animals and could offer dog walking. 

Maybe they’re great at organising and could help neighbours tidy their garages or bookshelves.

Maybe they’re a digital wizard (I mean, which kid isn't, right?) and could make fun birthday cards or slideshows for family members.

It doesn't even need to be pushing into entrepreneurship (although that doesn't hurt). Rather, it’s about building a habit of spotting opportunities to be useful and presenting viable career options.

And it’s a key component of career development. In a recent study, teenagers who at 15 were certain of their career plans experienced higher levels of “occupational status” by the time they turned 25. Conversely, those who were uncertain at age 15, could expect to earn between 6% and 17% less than their peers.

Takeaway: Practice noticing what they’re good at + how it could help someone else.

3. A Tip/Trick to Try

Create a “Mini Business Card”

You and your kid can make this as simple or creative as you like. 

A handwritten note dropped in a neighbour's postbox, a digital design that you can share on neighbourhood WhatsApp groups, or even a voice note or video. 

The idea is to help your child express:

• What they love doing.

• What they’re good at.

• How can someone contact you (or them if age-appropriate) to make use of their skill, product, or service?

For example:

Hi! I’m Sam, and I’m great at walking dogs and feeding pets while you're away. I’m 11 and live in the neighbourhood. Ask my mom if you’d like help!

This builds confidence and encourages kids to think like value-creators.

This also teaches kids about rejection (and most importantly, how to handle it) -  a much-needed skillset. We'll speak more about this in Part 2: How to teach kids to start a business. 

Takeaway: Giving their skill a name (almost like a job title) and a “face” makes it real. And it helps others take them seriously, too.

Your Thoughts…

Use This

How to Monetise Your Passions - Part 1

In Part 1 of this amazing resource, kids can list the skills that they’re good at, and what they are passionate about - yes, even ballet, karate and skateboarding…

Next, they can find a GOAT (Greatest Of All Time) in that industry. So, someone who has already managed to turn their skills and passions into a career.

Chances are, they already have someone in mind who fits the bill. But even if they don't, they can do research on that GOAT, and learn as much as they can to help encourage them to emulate their success in turning their skills into an income.

PS - be sure to check out Part 2 in next week’s edition of Mini Millionaires, which is a condensed business model canvas to help set the wheels in motion to turn their skills into an income-generating business.

Plus: Try This

Game Night Just Got a Whole Lot Richer

Have you heard of our board game, FinMaster: the ultimate game for future millionaires?

It’s a fun way of teaching kids (from 13 to 103) how to become money-smart, by buying assets, navigating market mayhem, and using clever strategies to come out on top. 

• Learn by playing: No textbooks required.

• Master the market: Every round is unpredictable (not to mention sneakily educational!).

• Play your power moves: Outsmart your opponents.

• Build wealth, win the game: Earn the title of FinMaster.

Our Limited Edition is SOLD OUT, but our next drop is coming soon. Join the waitlist now.

The Tribe Has Spoken

Last week, we asked what your favourite part of your budget is, and it looks like we like seeing our money grow.

⬜️⬜️⬜️⬜️⬜️  💸 Spending – Gotta love some retail therapy

⬜️⬜️⬜️⬜️⬜️  🧱 Saving – Got some big financial dreams I’m working on

🟨🟨🟨⬜️⬜️  ☀️ Sharing – Giving to others gives me the warm and fuzzies

🟩🟩🟩🟩🟩 🌱 Sowing – Investing in something long–term and watching it grow

⬜️⬜️⬜️⬜️⬜️ 🤷‍♂️ Seriously? What’s a budget…

What you said: 

“I LOVE ME A VISUAL REP OF THE BULL MARKET.”

Looks like sowing season is officially open.

Let’s Connect

Have you tried any of today’s featured exercises yet?

What worked, what didn’t? Or did one of them get you particularly excited?

We’d love to get your thoughts so please hit reply to this email and share your thoughts.

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