Teach kids how to responsibly manage money with Greenlight

As an entrepreneur and mom of 5, I know that it can be difficult to find the time to balance work and family responsibilities. It’s nice to find ways to do both at the same time. For example, I believe that as entrepreneurs we have a unique opportunity to teach our children about money management by getting our kids involved in our business. Doing so will give them a sense of responsibility as you spend quality time with them and also help them develop important life skills, like how to manage money. As an added bonus, (pun intended) paying your children for their work can provide you with benefits at tax time. Involving your children in your business can be an opportunity to bond with your children and have some fun together as you let them be a part of your business owner world.

 

It’s never too early to get your kids involved in your business. You can come up with ideas for things that your kids can do to contribute regardless of their age. When my youngest was born, we made him the star of some social media campaigns that my older kids and I developed. A client of mine has his young daughters wrap gifts for clients during the holidays. So get creative and think about your business as a whole and some tasks that you can get your kids to do at any age. If you come up with age-appropriate tasks that they enjoy, that would be ideal.

Whether you’re teaching them the ropes about how to run a business or simply spending some quality time together, involving your kids in your entrepreneurial pursuits can be a great way to strengthen your family unit as you teach them a host of important lessons.

 

There are 3 fundamentals that you should know when involving your children in your work life:

 

The experience they will gain from being an active participant in your business will give them insight into some of your responsibilities – as an individual contributor and as a financial manager. So make sure that you are leading by example and showing them how to apply the skills you want them to have. I can tell you from personal experience that this helped me transform frustration over the time and attention I gave my business to respect and admiration for my talent and dedication.

Kids need to have some room to play and be creative so keep that in mind and go easy on assigning them high-stress tasks. Take their interests and talents into consideration and reward them with praise when they do something well, even if it’s not quite perfect. Give them goals that are attainable and if they fall short, give them constructive feedback so they can do better. This will help them associate work with joy which will help them gravitate toward it and not away from it.

As a mother, I want my children to understand the value of money, but I don’t want to burden them with the responsibility of managing it. I recommend using the Greenlight app. They make it easy to send money to your kids and have features that teach them how to manage it. For example, you can set parental controls to encourage them to save, spend only on certain things, or even invest it. With Greenlight, you can set up allowances, track spending, and set flexible controls for parents. You can also get real-time notifications of your kids’ purchasing activity so you can help them with feedback about their spending habits. 

 

If you’re looking for an easy way to teach your kids about money, Greenlight is the perfect solution, and now is the perfect time. Sign up today and you’ll get $30 when you use our special promotional link!