How to Make Money As a Kid - Step 1 - Idea

How to Make Money As a Kid - Step 1 - Idea

Introduction

As a little kid, you are considered a dependent. This means you are depending on your parents or guardians on mostly everything. That is absolutely normal, because everyone needs some type of help or support when they were young. You are not physically or mentally capable of taking care of yourself yet.

When you become an adult, you can make your own money, getting your own place, and you are physically able to take care of yourself. However, that does not mean that you cannot or should not try to make any money as a kid. There could be things that you wanted to buy and your parents do not have the money to buy it for you. Why not try to make money as a kid and know how it feels to be a young adult.

Forming an Idea

The first step in making money is forming ideas, or better yet, the right idea. You want to get an idea that you are interested in and it works well for you. By doing so, you will be motivated until you make some good money.

The characteristics of a good idea are different for everyone. You might think characteristic A is important but your friend might think characteristics B. Start by writing down what you think are important to you. For example, you would like to have an idea that could make a lot of money in a short period of time. Or, you want an idea that does not take a lot of your time. Or an idea that does not cost a lot of money to start with. Etc. Know what you want from your idea before you start is crucial.

Writing Down Your Ideas

There are thousands of sources online that could provide you with so many different types of ideas. However, you would notice that most of them are similar. Do not be concerned about if an idea is too simple or you do not think it will work. Let's just think of some interesting ideas first.
Now you have some ideas in your mind, let's begin by having you write some ideas that you are interested in doing.

Example List:

1. Tutor

2. House Cleaning

3. Teach Computer

4. Doing Book Reviews

5. Pet Sit

6. Selling Art & Crafts

Next, narrow your choices down to the best three.

1. Doing Book Reviews

2. Selling Art & Crafts

3. Tutor

Compare and contrast each of the 3 best choices. Make a list of the pros and cons for each choice. Refer to your characteristics of a good idea if needed.
Pros Example

1. Doing Book Reviews: You can learn new information while reading books. You think reading is fun. You enjoy reading. You could potentially make a lot of money doing this.

2. Selling Art & Crafts: It is exciting to make jewelry. You are creative and could make a lot of unique designs. It only costs very little for you to begin. You could charge 5-10 times higher than the cost for you to make.

3. Tutor: It is easy to do, because you are so knowledgeable about the subject you are tutoring. You could make a lot of money within a short period of time. It does not cost a lot of money for you to start with.

Cons Example
1. Doing Book Reviews: You do not like to read. You are a slow reader and it will take a lot of your time. It will takes a longer time for you to make money with this idea than the other 2.

2. Selling Art & Crafts: You are a boy and think that making art and crafts are for girls. This could take up a lot of your time. You are clumsy and not good with arts and crafts.

3. Tutor: You do not have the patience to teach someone. It could take up a lot of your time if your student has many questions.

Pick a Right Idea
Now you have the list of pros and cons for your top 3 choices. Pick the one that have the most advantages and the least advantages of the three.

For example, out of all the three choices, you picked selling art & crafts because you could make a lot of money and it will not take up a lot of your time.

Or, it could be just an idea that you are really interested in. For example, you really enjoy reading books and it could make you a lot of money, even though, it will takes a longer time than the other two methods.

Pick the idea that you enjoy doing the most first, and then you can go back and do more ideas later. Do not overwhelm yourself with too many projects at once.

Stay tuned for the next article. How to Make Money as a Kid - Step 2 - Planning Your Idea.
Want some ideas to get started? Visit Ways Kids Make Money

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