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Putting Your Kids To Participate In The Household Endeavor
If you have your own company, enabling your kids to work in the family business makes a lot of sense. Not only are your offspring exempt from some of the tax and labor laws when participating in a family owned business in a lot of areas, but giving the kids a sense of ownership can take them far when the family business passes to their hands at some point.
Be cognizant of your kid's age as you begin to employ them in the family business. Even young kids can take part doing easy jobs such as copying files. As they mature, children can sort papers, file, help prepare shipments, keep inventory of credit, send faxes and more.
Be tolerant as they decipher and learn jobs clearly. You understand your child better than anyone, so take into account whether he or she can follow different directions at once, or if 1 job assigned at a time is a better fit. If your child can read well, let that child do more complicated tasks and leave the easier jobs to a younger child.
While hiring your children can ultimately save you cash, be sure you give them a decent wage for the work they do. Encourage your children to save a little of what they earn and give a little of what they make to a charity. But let them have at least some of the money they've earned to spend however they want to. This gives children a bigger want to work and a lesser desire to live off of credit. We all need rewards, but children really have a need for at least some fast gratification.
Be tolerant and realize that kids are still kids. There may be days when you've got a deadline to meet and your kid just wants to have fun. Or there may be days when you just can't get your kids to focus. On those days, do your best to remind them of the task at hand and that there is something to be done first. Once the task is done, take time to play, and relax and enjoy your children. They need to know you're a parent first, and the manager second.
Use project time to help your kids learn the joy of earning an income, and the responsibility and mechanics of managing money. In addition, help them to become dependable workers, cultivate a strong work ethic, and understand the value of a job well done.
Putting the children to participate in the household business can help you, as a singular proprietor, find help you need to finish necessary tasks. However, it should also give your children a taste of the workplace and help them understand the importance of money management. That way when they get older, they will keep clear from debt and credit problems. This is a much easier lesson to learn when money is made rather than given.
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