That Home Loan Hub

An Eight Year Old’s Guide To Earning And Saving

• Zebunisso Alimova

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0:00 | 6:11

Kids don’t need a complicated spreadsheet to understand money, they need a simple rule they can actually use. During our School Holiday Edition, we sit down with my son Amir and let him explain money in his own words, including the blunt truth: spend too much and you end up with nothing.

We unpack practical ways an eight-year-old can earn money today, from vacuuming and dishes to windows, tidying, and making beds. Amir also talks about earning beyond the house with dog walking and car washing, then shares what it’s like stepping into a new role coaching Taekwondo, including the idea of a probation or trial period and what “being good” at a job looks like when you’re still a kid. If you’re searching for kids money tips, financial literacy for children, or simple allowance and chores ideas, this conversation is packed with real-life examples.

Then we head into big topics in a small-kid way: saving every dollar of a $10 payment, what it means for money to “grow”, and a first look at shares where you pick a company and buy in. We also touch on inflation and why prices go up, plus a quick hint at the everyday costs adults deal with like water rates and bills. KiwiSaver, compounding interest, and the deeper money stuff get saved for next time, but the foundation starts here.

If you want more honest, practical money conversations for families, subscribe, share this with a parent or whānau member, and leave a quick review. What’s one money lesson you think every child in Aotearoa should learn by age eight?

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School Holiday Guest Introduction

SPEAKER_00

Hello and welcome back to the School Holiday Edition. And I have someone else in my office today. Who do I have today? What's your name?

SPEAKER_01

Amir.

SPEAKER_00

Amir. And how are you related to me?

SPEAKER_01

I'm your son.

What Kids Know About Money

SPEAKER_00

You're my son. Well, that's good to know. Amir, so you being my son, how old are you? Twelve. Are you really? Yeah. How old are you?

SPEAKER_01

Eight.

SPEAKER_00

You're eight. Awesome. And what do you know about money?

SPEAKER_01

That if you um spend too much, you don't have any.

SPEAKER_00

If you spend too much, you don't have any. Yep, that makes sense. So what made you want to come to this podcast today?

SPEAKER_01

Because my mom told me to.

SPEAKER_00

Your mom told you to? No. Your sister did it with me, and then your brother did it with me, and then you wanted to. Yeah. Yeah. So did I tell you to come on the podcast?

unknown

Nah.

Simple Saving Advice For Kids

SPEAKER_00

No. You wanted to. So what do you want to tell another pe another eight-year-old that's listening right now about anything you know about money? What tips do you have for them?

SPEAKER_01

Save your money.

SPEAKER_00

How are they gonna save their money?

SPEAKER_01

By doing a job and then you save your money. Otherwise, if you just keep on spending it, you won't have any. You just like have a little bit amount and then you can't buy stuff that costs lots.

SPEAKER_00

Okay, so how can they make money to begin with? What if they don't know how to make money?

SPEAKER_01

They um can do jobs for their mum and then they can get money.

Chores That Earn Real Cash

SPEAKER_00

Okay. What sort of jobs can they do? As an eight-year-old, what sort of jobs can you do?

SPEAKER_01

Vacuum, clean the windows, wipe the tables, push the chairs in, clean the dishes.

SPEAKER_00

Make your beds. Yeah. Can you do your lunchbox?

SPEAKER_01

Yeah.

SPEAKER_00

What do you put in your lunchbox?

SPEAKER_01

Toast, a bar, some food some packets and a snack.

SPEAKER_00

Okay. So if you do the jobs around the house, you get paid for it. Let's say I give you ten dollars. What are you gonna do with t$10?

SPEAKER_01

Save it.

SPEAKER_00

All of it?

SPEAKER_01

Yeah.

SPEAKER_00

How are you gonna save it?

SPEAKER_01

I'm gonna put it in my um bedroom, put it in a safe place.

SPEAKER_00

Is it gonna be safe in your bedroom?

unknown

Yes.

SPEAKER_00

But does money grow?

SPEAKER_01

If you save, yes. But if you don't, it won't.

SPEAKER_00

Okay. And what other things you can do as an eight-year-old to earn money outside of your house?

SPEAKER_01

Um cut the glass.

unknown

Cut the glass.

Jobs Beyond Home And Coaching

SPEAKER_00

Go do some lawn mowing, huh? You can do that dog walking. You're very good at dog walking. Dog walking.

SPEAKER_01

You also can tidy up.

SPEAKER_00

What about car wash?

SPEAKER_01

Oh yeah, car wash too.

SPEAKER_00

You're very good at that. Yeah. And what else have you been doing lately? The school holidays, you've tried something new as a job?

SPEAKER_01

Oh, I was being a coach for Taekwondo.

SPEAKER_00

Yeah. Did you like that? Yeah. Was that fun? Yeah. Yeah. But you you currently have your probation period. Do you know what's a probation period? No. Trial period? What is that? I don't know. Where they test people. Yeah. And then if you're good.

SPEAKER_01

They'll give they'll give you money.

SPEAKER_00

They'll hire you.

SPEAKER_01

Yeah.

SPEAKER_00

And what does it mean being good?

Buying Shares And Picking Companies

SPEAKER_01

Like don't be silly. Like don't be annoying.

SPEAKER_00

Okay. And then you're gonna earn money? Do you know anything about shears?

SPEAKER_01

No.

SPEAKER_00

Do you have shears?

SPEAKER_01

Yeah.

SPEAKER_00

What sort of shears do you have?

SPEAKER_01

Uh McDonald's, Tesla, uh, Fly Center, KFC, and uh how do you buy them? You put money in there and then you buy the thing.

SPEAKER_00

Yeah, and who helped you to do that?

SPEAKER_01

My dad.

SPEAKER_00

Yeah, lots of fun. You can choose companies and can buy shears from those companies. And then you can make money on that.

unknown

Yeah.

SPEAKER_00

Yeah. So if there was another eight-year-old listening to you right now, what would you tell them to do? One thing that you tell them to do today.

SPEAKER_01

Do shears.

Inflation Basics And Bills Teaser

SPEAKER_00

Do shears. What about Kivisaber? Do you know anything about Kiwi Saver? No. We're gonna talk about Kiwi Saver next time. Okay. Do you know anything about compounding interest?

unknown

No.

SPEAKER_00

Do you know anything about inflation?

SPEAKER_01

Yeah.

SPEAKER_00

Oh, you know about inflation? Okay, tell me about inflation.

SPEAKER_01

Like it the money goes up.

SPEAKER_00

Mm-hmm. And what happens to the money?

SPEAKER_01

It c gets becomes more.

SPEAKER_00

The money becomes more. Okay, and what do you know about home loan interest rates? I don't know money. You don't know anything? What about water rates when you buy a house? You have to pay water rates. Do you know that? No? So that's why we say don't use too much water because you have to pay money on that water. Do you know that? Yeah. What about bills? Do you know anything about bills and expenses?

unknown

No.

Wrap Up And Goodbye

SPEAKER_00

No. We're gonna talk about it next time. Okay. Anything else you want to tell our listeners before we wrap it up?

unknown

No.

SPEAKER_00

No? Did you have fun with mama today? Yeah. Yeah. Now you can um claim that you're a celebrity.

unknown

Okay.

SPEAKER_00

Alright. Thank you, Amir, for coming along. Have a good day.

unknown

Bye.

SPEAKER_00

Bye.

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