Module 3: Earning Money for Kids

FINANCIAL LITERACY LEARNING RESOURCES 

The Value of Work and Time

1. What is Work?

Work is the effort you put into completing a task. When you work, you’re using your energy, skills, and time to do something useful. Sometimes, work is done for money, and other times it’s done to help others or to achieve something important.

2. The Connection Between Work, Time, and Money

A. Effort

Effort means how hard you work at something. The more effort you put into a task, the better the result usually is. For example:

• If you work hard on a school project, it might turn out better than if you rushed through it.

• When you practice a sport or an instrument regularly, you get better over time because of the effort you put in.

B. Time

Time is a valuable resource. We all have the same amount of time in a day, but how we use it can be different.

• Some jobs pay you based on how much time you work. For example, if you babysit for two hours, you might earn money for those two hours.

• Some tasks might take longer to complete, so you have to manage your time well to get them done.

C. Money as a Reward for Work and Time

When you put in effort and spend time doing something, you can earn money as a reward. This is true for most jobs and businesses. The harder or longer you work, the more money you may earn. For example:

• If you help your parents with chores for 30 minutes, you might earn a small amount. If you help for two hours, you could earn more.

• If you run a lemonade stand, the more time you spend selling, the more customers you’ll serve, and the more money you’ll make.

D. Why is it Important to Understand the Value of Time and Effort?

Knowing the value of your time and effort helps you make good choices about how to spend them. It teaches you to:

• Prioritize: Focus on important tasks and avoid wasting time.

• Work Smart: Find ways to do things efficiently so you can achieve more.

• Appreciate Hard Work: Understand that earning money often requires both time and effort, so you learn to respect the work that others do too.

Activity:Ask kids to think of a task they have completed recently (e.g., cleaning their room, completing a school project). How much time and effort did they spend on it? Discuss how much effort they would be willing to put into a task if they were paid for it.

E. Start Small and Grow

It’s okay to start small. As you get better at running your business, you can take on more customers and try new ideas!

Activity:Ask kids to come up with their own business idea. Have them think about what they’d need to get started, who their customers would be, and how they’d advertise. They can share their ideas with the class.

By the end of this lesson, children should have a better understanding of how they can turn simple ideas into real ways to earn money. This will encourage creativity and entrepreneurship while helping them learn valuable skills for the future.