How did you earn your pocket money as a child? Wash cars or mow the lawn? A round of newspapers or babysitting?
Well, not for Generation Z.
Children as young as six go online to earn money, whether as influencers on social mediasell clothes on eBay, play or play in the markets.
Woody Harrison, 16, started out buying limited-edition sneakers to resell online, on sites like eBay but also Depop.
Then, like many of us, bored during lockdown and looking for something new to do, he discovered cryptocurrency through YouTube videos and TikTok tutorials, where he learned what and how to trade.
He told us: "I took some of the money I made selling clothes, sneakers on Depop and other resale platforms and then invested it in various currencies. That was a ยฃ250 investment and over the last two years I've seen that grow."
That is now worth more than ยฃ1,000, which he wants to invest in his fledgling clothing business.
It's not just teenage entrepreneurs. Much younger children are also looking to make money online.
Naomi gets paid to feature and review products on her Instagram and YouTube channels, from clothes to toys to restaurants.
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Naomi Castelo, is an influencer. She gets paid to feature and review products on her Instagram and YouTube channels, from clothes to toys to restaurants, and she can earn over ยฃ150 per post.
The only difference is that he is 10 years old and often appears in videos with his mother, Isa.
10-year-old influencer Naomi Castelo (right) and her mother Isa (left)
It started when Naomi saw other kids with YouTube channels and wanted to try it too.
Now the brands will approach them to collaborate and, Isa said, they decide together how to display the products.
Naomi's favorites are when they do parades together.
Isa rejects the ones she doesn't think are appropriate. She says that her daughter is in a safe environment and enjoys it, and it allows her to save for the future.
GoHenry offers a prepaid pocket money payment card and app to help educate kids about finances
โI think it's good that she can earn this money for college. We put it in the savings account.โ
Naomi said it is already helping her realize her dreams.
She said, "My dream is to have my own brand and become a fashion designer for clothes. Yes. I think it's very nice to do it."
And, he said, his friends think it's cool.
"They say wow, I can't believe you have all these toys. I wish I did," she added.
With regulators already struggling to keep up with tech platforms, and concerns about the impact social media is having on young people's mental health, there are sure to be questions about this new frontier and whether there are enough safeguards in place to protect it. to the kids. to be exploited.
Just like adult entrepreneurs, it helps to have some startup capital to get started.
GoHenry offers a prepaid pocket money payment card and app to help educate kids about finances.
Co-founder and COO Louise Hill said there are huge benefits for kids taking advantage of this explosion of online opportunity.
She said: "The world is changing. There's a lot of stuff available online, and some of it is really positive and really good. When we talk to parents of kids who are doing this, they're overwhelmingly positive about it."
"They talk about the creative freedom it gives their kids and the fact that their kids can do it regardless of their rooms, the connections to the outside world that it allows them to make, is overwhelmingly seen as a positive."
It requires a lot of free time and, crucially, money already available to invest in doing more online.
Just like adult entrepreneurs, it helps to have some startup capital to get started.
But, as more and more of us socialize and work online, it's no surprise that kids are also turning the Internet from their playground to their workplace.
