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IRS Tax Forms 1099-INT and/or 1098 are included with your December 2022 banking statement. You may access a copy of your statement via online banking.

Beyond Babysitting And Lawn Mowing

Babysitting and lawn mowing are tried and true moneymakers for kids, but not every child has interests in those areas. So, if your children express interest in making money (but are not yet ready for even a part-time job), help them figure out what they’re good at. That way, they’ll begin exploring ways to make money that are just right for them.

Think out of the box. If your child does well in math, can she help tutor a younger child who is having trouble? If she enjoys baking, why not sell her own brand of cookies? Is your son interested in building model planes? Help him brainstorm for ways to make it profitable.

Your kids will need your help, but your time (and sometimes money) is a good investment here. Even if they make mistakes, you’ve taught your children to think like entrepreneurs and come up with enjoyable ways to handle money. These are both important skills that are not taught in schools, but will help them deal with the real world later on.

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