My 11 year old recently said he wanted to start making money. I asked why. He responded that he needs to start saving so he can get a car, buy a house and retire early. This weekend we went and opened his first savings and checking account. I think he's finally big enough to begin mowing the yard. Half of what he earns will go into each account. He has his own debit card(can't overdraft) and a CD savings account. This way he had spending money and savings. It teaches him responsibility. win/win I began mowing yards at his age as well. I think it will do him good.