Are your kids looking to make few extra bucks this summer for a new bike, camp, vacation or just to sock away the savings? There is no better time than summer to encourage your kids to be creative and earn some extra money around the house or around the neighborhood. I'm going through this process now with my own kids. Besides keeping them out of trouble, running a business no matter how simple can help build skills that will carry with them for the rest of their lives.
Recently Jayne wrote a blog on the ABCs of starting a business, which provides some great planning tips for getting a business up and running. To build on this, I wanted to share a fun video that talks about the importance of location. Sometimes this means taking your business to the people instead of waiting for the people to come to your business.
There are a number of other great episodes produced by The Secret Millionaires Club that kids will enjoy watching that talk about the different hurdles of running a business, even a 'kids business'. Who better to give the kids some tips and advice on earning extra cash than Warren Buffet. AOL Kids working with Warren Buffet developed The Secret Millionaires Club to teach kids about business and investing. Besides videos, there are also a number of fun money games and the ability for your kids to get some virtual experience investing in the stock market using Buffet Bucks.
So have your kids set up a savings goal in FamilyMint and apply some creativity, ingenuity and elbow grease to make it happen on their own.