There are two main ways to gather money: Make more money. Save more money.
Making Money
The most common way most young people get money is through an allowance. Not every teen gets one, of course, and your parents' beliefs or financial situation might mean you get little or nothing. According to various surveys, the average allowance for teens is anywhere from $20 to $50 per week. If yours is a lot lower, perhaps try negotiating a raise.
Here are some more ways to get money:
·From your family. Your parents might pay you for getting good grades in school, or for reading a certain number of books, or for doing various jobs around the house. You might even earn some money from siblings, if you offer to do some of their chores.
·Selling things. If your closet or basement is full of belongings that you no longer need or want, consider selling them. (These might include toys, games, comics, and clothes. Don't get rid of things you have a strong attachment to, though, such as your old Furby or your Teenage Mutant Ninja Turtles lunchbox.) You could hold a yard sale in your neighborhood. You might even offer to sell other people's knickknacks, for a small fee or a percentage of the sale price. Another option is selling items online, such as on eBay.
·A job! This is perhaps the most obvious way to earn money, and teens frequently land part-time or full-time summer jobs.
Jobs for Teens
Believe it or not, there are many, many jobs you can find or create. You have more choices than just working at McDonald's or babysitting. Here are lots of ideas, a few of which might appeal to you. Keep in mind that some jobs have age requirements for employment. The Labor Laws also limit the amount of hours that teens are allowed to work. For more information on Labor Laws visit the U.S. Department of Labor.
·Pet-sitting. When someone in your neighborhood goes on vacation, there's often a pet that needs looking after. Also, with people working longer and longer hours these days, some will pay you to visit their pets during the day and take them for a walk.
·Working for your parents. If mom or dad owns a business, they might be able to use your help. Even if they work for a company, they may be able to hook you up with a part-time job there. (Check with your parents' friends, too.)
·Tutoring. Some teens report that they earn anywhere from $5 to $20 per hour tutoring. If you're good at a subject, including band and orchestra, you may be able to earn money by helping others to understand it.
·Lifeguard. In some parts of the country, there are shortages of lifeguards. Some have been earning $10 per hour or more. If you have the skills needed, consider this option.
·Camps. If you look into it early enough, you can line up a job at a summer camp -- you might work with kids, tend the grounds, prepare food, or do any of a number of things.
·Jobs matching your interests. If you enjoy working with young children, see if any daycare centers near you need help. If you like the great outdoors, check with your local parks department. If you like movies or recreation, look into movie theaters or amusement parks.
·Mowing lawns, raking yards, shoveling snow, gardening. These can all be part of the same job. Once your customers know you and the good work you do, they may use your services doing other jobs in other seasons.
·Department stores. A big perk with these jobs is that you often get to enjoy employee discounts (which can be substantial, often 20-30% off) and commissions on items you sell.
·Create websites. If you know enough about computers to create well-designed websites, you can make some good money. Many small companies and organizations pay thousands of dollars to have websites built for them. Some small companies might also pay you to help maintain their sites, adding content, and solving problems that arise.
·Be crafty. If you enjoy arts and crafts, you might make jewelry or other items and sell them -- perhaps on eBay, where you'll have instant access to a large customer base. Some painters and photographers are making money selling their work online, too, although that can be harder to do.
·Serve the elderly. Not only might you find work in a nursing home or retirement community, but you might also serve older people in your neighborhood. Many older people can't get around much. They may welcome your services delivering groceries, running errands, or doing odd jobs around their home.
·Be a computer guru. Many people buy computers and have a lot of trouble setting them up and trying to use them. You can set things up, solve problems, answer questions, teach programs, and show people how to send and organize email, upload digital photos, buy something online, use Instant Messaging, and conduct online searches.
·Caddy at a golf course. This not only helps you learn more about a sport you might enjoy, it also gives you the chance meet a lot of adults from whom you might learn more about the business world. They could be turn out to be valuable connections that help you land other jobs and college scholarships.
·Delivering newspapers. If you sign up to deliver several hundred (which may be more possible in areas with apartment buildings), you can make $100 or $200 per week or more.
·Use your skills. Think about what you're good at and try to teach others -- adults or children. You might offer piano lessons, horseback riding lessons, or Spanish lessons. Maybe you can juggle and entertain at children's birthday parties. If you play an instrument, perhaps you could play at weddings or other events. If you write, you could try to sell articles to magazines or newspapers.
·Volunteer! While not a moneymaker, volunteering can build skills, experience, and contacts. Don't just do the first thing that pops into your mind. Be a strategic volunteer. Think of a field or company you'd like to learn more about. If you're really concerned about hunger in the world, volunteer at a food bank. If you're thinking about becoming a doctor (perhaps one who treats the elderly), consider volunteering at a hospital or a nursing home.
Once You've Made Some Money, Save Some!
How much should you save? You actually may be able to save 100% of your money. Does that mean you should? Not at all. The best way to develop good saving habits is to make saving a regular part of your life, along with spending.
Here's a few ways you can save:
·Save before spending. Whenever some money gets into your hands take your savings out immediately, before spending any of the money. The beauty of this system is that once you've removed your savings, you're free to spend the rest.
·Negotiate with your parents. This may or may not work for you, but it's worth a shot. See if they'll "match" your savings, in order to encourage good saving habits. If they match your savings dollar-for-dollar, for example, that would mean that for every $25 you deposit into savings, they'd deposit an additional $25.
·Consider the "opportunity cost" of purchases. Opportunity cost essentially refers to the cost of giving up one alternative in order to act on another. Imagine that you can either buy concert tickets for $50 or you can invest the money. If you invest for 10 years, and your investment grows by an average of 11% per year, your original $50 will become $142. So your decision can be framed like this: "Would I rather have these tickets now, or $142 in 10 years?" If you're thinking of buying a pair of shoes for $75, consider whether it's worth the opportunity cost of $600 in 20 years. |
