5 Smart Questions to Teach Your Child About Earning Money
I overheard a funny conversation recently. A mom had taken her eleven-year-old son to the bank to make some payments. As they were walking out the front door, he looked up at her and said, “Mum, I want to be a banker when I grow up.”
Curious, she asked him why. His answer? “Because bankers have plenty of money.”
She laughed so hard, other people around her wondered what was so funny.
This story is just one of many that shows the different misconceptions children have about money. Some genuinely believe money is endless or simply “appears” because mum or dad has a card, a wallet, or a phone or works at the bank. They don’t see the long hours at the office, the late nights running a business, or even the small daily tasks that make that money possible.
To them, money is just… there.
That’s why teaching children about earning is such an important first step in building their understanding of money. When they learn that money is tied to effort, skill, and value, it changes how they see the world. They begin to connect what people do with what people earn. And once that connection is clear, conversations about saving, spending, and even giving become much easier.
In this post, we’ll look at five simple but powerful questions you can ask your child to help them grasp what earning really means.
1. Where does money come from?
This is a great place to begin because many children assume money simply comes from banks, wallets, or even “Dad’s phone.”
Use examples from your own life to make it relatable. You might say:
“Dad goes to work and helps people fix their electronic devices. He earns money because he gives his time and skill.”
“Mum runs her shop, and people pay her when they buy goods like rice or shoes. That’s how she earns money.”
The idea is to show that money is not endless or automatic—it’s connected to effort. This small shift in perspective helps children realize that money is something people earn by contributing their time, skills, or creativity.
2. What do you think people pay for?
Once your child understands that money is earned, the next step is to help them see why people are willing to pay in the first place.
This question sparks curiosity and gets them thinking about value. You can explain that people pay for things that solve a problem, make life easier, or bring happiness.
Examples you might use:
“People pay the ice cream seller because they want something cold and sweet on a hot day.”
“We pay the tailor because we need clothes to wear.”
“We pay the bus driver because we need help getting from one place to another.”
To make it interactive, ask your child to look around the house or the neighbourhood and list three things people enjoy or need. Then talk about why someone would be willing to pay for them. For example, a chair (comfort), food (hunger), or cartoons on TV (entertainment).
This exercise shows children that earning isn’t just about working — it’s about providing something valuable. It helps them connect money with usefulness and creativity, not just the idea of “having a job.”
3. How would you like to earn money if you could?
Children often come up with imaginative answers: selling crafts, drawing pictures, washing the car, or even charging their siblings to borrow toys. Don’t worry if the ideas sound funny or unrealistic at first; what matters is that they’re making the link between effort and reward.
You can guide the conversation by connecting their hobbies or interests to ways of earning:
“You love drawing. Do you think people would like to buy your artwork as greeting cards?”
“You enjoy helping in the kitchen. Could you bake cupcakes and sell them at a family gathering?”
“You’re good at math. What if you offered to teach your classmates for a fee?”
This step encourages creativity and teaches that skills and passions can have value. It also gives children a sense of ownership over the idea of earning, instead of seeing it as something only adults do.
If possible, give them a small earning opportunity, like paying them for washing the car or helping with extra chores. That hands-on experience makes the lesson stick and gives them pride in their effort.
4. What’s the difference between earning and receiving?
Children often get money in two ways: they either earn it through effort or receive it as a gift or allowance. Helping them see the difference builds appreciation and responsibility.
Explain it simply:
Earning money means you’ve put in some effort — like washing the car, selling snacks, or helping at home. That money represents the value of your time and energy.
Receiving money means someone has given it to you as a gift, like birthday money from grandparents or pocket money from parents. It doesn’t require effort.
To make it practical, try giving your child two ₦500 notes on different occasions — one as a gift and one after they complete a small task. Then ask: “Which one feels more special to you?” Most children will notice that earned money brings a sense of pride because they worked for it.
This lesson helps children value hard work more than freebies and shows them that while receiving is nice, earning gives them a sense of independence and achievement.
5. If you earn money, what would you do with it first?
This opens up a conversation about choices. Children usually lean toward spending, maybe on sweets, toys, or games and that’s perfectly normal. But this is a chance to guide them into thinking about three important options:
Spend – enjoying the reward of their effort.
Save – putting some aside for something bigger they want later.
Share – using a small part to give to others, whether it’s helping a friend or contributing at church.
By asking this question, you’re helping your child connect earning with responsibility. They’ll begin to understand that how they use their money matters just as much as how they make it.
Take it One Step at a Time
Children may not fully grasp everything at once, but each conversation adds a new layer of understanding. Over time, they’ll realize that money isn’t just something adults hand over. It’s connected to effort, value, and choice. And because you took the time to guide them, they’ll be better prepared to make smart decisions with confidence.
When children learn the value of earning early, they begin to appreciate the work behind every naira. More importantly, they start to believe in their own ability to create value, use their talents, and make good choices. And that’s a gift that will serve them far beyond childhood.