. Once you've worked out how kids can make money, you'll need to teach them how to spend it wisely too. A good adage is to spend a little, save a little, and give a little away. Opening a bank account for your child helps them save while teaching them how banking works, and they'll be so proud of themselves when they save enough to buy that special something they've always wanted! Kids making money need to learn these lessons in how to use their money too. We live in a world where money and how you look after it makes a big difference in how we live. You don't want children who are slaves to money, but you do want them to work for their money, and use it wisely once they've earned it.