A Kids Guide to Business Basics
Learning the value of money and how to make some of your own is an important task for a child to learn. Once you learn what the money is worth and how to make it, you can buy things like the new toy you’ve been wanting or save for a big occasion. As a kid, there are ways you can earn money including asking your parents to start an allowance or starting up a small business. Learning how to make and manage your money will help you prepare for your future, with earning money at a job and things like paying your bills. Before you can start earning and spending money, let’s learn some of the basics of business.
- Contract: An agreement made between two or more people that is either spoken or written.
- Expense: The amount of money that is spent on a service or product
- Finance: The organization and management of large amounts of money.
- Liabilities: The things you are responsible for, or held accountable to, usually by law.
- Marketing: The promotion and selling of a product or service. Marketing goes hand in hand with advertising.
- Profit: The difference between the amount earned and the amount spent.
- Return on Investment (ROI): The act of putting your own money (investment) into something and expecting a big return.
- Service: Supplying a person or group with a need such as food or transportation.
- Supplier: A person or company that contributes a good or service to other companies that they sell.
- Target Market: A group of people you are aiming your product or service towards
Small Start-up Ideas
- Make Some Lemonade: This site provides kids with a list of five tips that they should follow for starting a lemonade stand business.
- Babysitting Business: Care Community’s advice on learning what it takes to start a babysitting business. This site is also where you can make a babysitter account, and find families looking for childcare.
- Professional Pet Sitting: The National Association of Professional Pet Sitter’s guide to starting a pet sitting business.
- Be a Youtube Star: A parents guide to over-seeing the process of children starting a youtube channel and explaining how to use privacy settings.
- Bake Your Way to Business: An instructional guide for kids and their parents on how to start your own baking business.
- Cash in on a Car Wash: A comprehensive guide for teens who want to start their own car washing business.
- Mow Some Grass and Make Some Cash: Tips for kids explaining how to start a lawn mowing business in your community.
- Jewelry Designer: This site takes a pastime hobby of jewelry making and explains how kids can turn it into a business.
- DIY Projects that Make Money: An instructional guide on how to make do-it-yourself upcycling projects and turn them into a product to sell.
- Be a Photographer: This site explains how to make money through photography, giving some tips on choosing the right camera and places where you can sell your photos to online.
Money and Math
- Learn to Count Money by ABCya: Children’s add fish to their fish tank by dragging and dropping coins and bills to match the correct amount.
- Top Money Board Games A list of board games that teach children about money concepts while still having a fun time.
- Fun Money Games for Kids A site filled with interactive games that teach children about coins, prices, spending money, shopping, and more.
- Counting Money Games Splash Math is a site of fun learning games where kids can learn the value of coins and how to count them with various math methods.
- Build Animal Piggy Banks Learn about coins and their value by creating these cute animal themed children banks.
- 26 Fun Money Games and Activities This site offers free printables of 26 different games and activities to teach children about money.
- Financial Football A game for children ages 11 and up that teaches money management skills through a fast paced interactive football game.
- Free Educational Money Games A site of free interactive games that teach children about saving, investing, and money management.
- Keep the Change Kids An educational mobile app that teaches math and coin recognition.
- 14 Fun Addition and Subtraction Games for Kids Kids will learn the math basics of addition and subtraction to later manage their money through these 14 games and activities.