Unique Ways Kids Can Earn Money

Kids earn money at a lemonade stand
Kids earn money at a lemonade stand

A lemonade stand may be one of the most recognized ways young kids earn money before they're old enough to take on a real job, but there are plenty more. From starting a business with friends to sell homemade items, to tutoring or selling puppies, there are many more ways for kids to make money than the traditional methods of mowing the lawn and doing chores.

An allowance for doing household chores is a good start to teaching children about money, and setting up a bank account so they can save 20% to 40% of their income will help teach them financial skills, said Daniel Penrod, a senior industry analyst at the California Credit Union League, which represents more than 400 credit unions with 10 million members.

"The piggy bank at home is nice, but it's too accessible," Penrod said. "It's too easy to get to it and spend it frivolously."