Savings Finally, you can think of saving money as a source of money, since you can get interest on the money you save. Of course, you first must get money to save it. Once saved, you can use this money to meet your wants and needs. Money and Your Kids a newsletter for parents Getting Money Sources of Money Allowances, earnings from jobs and money gifts are all sources of income for children. Learning to manage these funds is one of the most valuable skills a child can develop.
Children can earn money in a variety of ways.
As a parent, you can encourage your children to get part-time work when they're old enough to handle it. Fifth graders are on the edge of the teen job market and many will be ready to explore job possibilities at this time. Job hunting requires self analysis and decision making. You and your child will need to decide what skills the child has to offer, as well as what job opportunities are available in your neighborhood. To test job skills, a child might first perform certain extra tasks at home for pay.