Teenagers now have the ability to earn money through part-time jobs, summer jobs, and apprenticeships. Some will spend every last penny on ‘stuff’ which you can’t see the point of, some will save every penny for a big purchase but a lot will try and save, fail drastically and spend the lot and then start saving again.
Teaching Teenagers To Save Money
With bank accounts, cards and lifestyles choices like hobbies or cars, teenagers need to be street savvy with money a lot earlier in life. It’s not like when our parents were young and money was hardly talked about and a big mystery until you got your first job after leaving school.
Lead By Example – The biggest thing you can do to teach teenagers to handle money and hopefully save it too is to lead by example. I remember watching my Mum put my Dads weekly wages, which then was in cash, into envelopes each week. There was a separate envelope for each category so petrol, food, saving etc. Because I remember seeing her doing this it’s something I do as well.
Bank Account – Help them get a bank account. Then explain how it works. When my eldest had her first account she was adamant it had to be at the same bank as me. At first, I thought it was rather odd then worked out it was familiar to her as she would go to my bank with me each week. This little thing helped her confidence in using the bank and now she regularly puts her savings into the bank.
Budgets – If they are earning regularly and have regular outgoings it would be a good idea to teach them about budgets. Though calling it a budget might send them running. Try spending plan instead of as this sounds more fun. Teach them about listing their expenses and outgoings so that they know how much they have left over. You can slip in about saving for bigger things and how to wisely spend their savings.
How Can Teenagers Earn Money
When I was a kid earning money as a kid consisted of thing, newspaper rounds. That was just about the extent of job prospects for kids.
But the good thing is we also came out of the ‘Victorian Child Labour’ era and how many jobs children could have and their hours all got safer. But it doesn’t mean there is no hope for teenagers to earn money, quite the opposite as now there are more opportunities than ever.
Babysitting – there is run of the mill babysitting in the evenings but then there is also thinking out of the box and offering babysitting services in school holidays and day times to help mums with shopping, housework or even being an entrepreneur.
Earn On Swagbucks – You have to be over 13 years of age to earn money with Swagbucks and you can earn money by answering polls, using their search engine, playing games on their site and various other ways.
Tutoring – mainly for the older teens but if they are nifty with their maths or any subject they could extra money teaching younger ones extra lessons.
Help Others with their Internet, Computer and Mobile Skills – Teens are more skilled and use to the modern world is all they know. That can be put to good use and taught to the less tech confident.
Pet Sitting – not everyone wants to put their pets into kennels or caterys so makes sense to pay someone to pet sit their beloved pouch.
Dog Walking – keeps pet fit, teen fit and owner happy. Win-win situation.
Helper – with fewer people going into a home there are more people who need the help here and there. Maybe weekly shopping. Mow the lawn. Get thinking caps on and help your teen decide how they can help.
Make and Sell Crafts – is your teen a dab hand with a paintbrush, maybe they sew a dream or can wield knitting needles pretty well. With places like Etsy, it is easier than ever to get your crafts out there and sold.
Create a Fiverr Gig – Fiverr is a simple idea. Create or do something for someone and charge them a fiver. Sing a jingle, write a poem….the list is endless. Have a look around the site to get ideas.
Wash Cars – there are more cars than ever on the roads and they need washing.
Start Their Own Blog – or YouTube Channel or Instagram ….or whichever takes their fancy.
Write Blog Content – If they can write there are always blogs looking for content.
Sell Designs CafePress – or on Fiverr or Etsy.
Sell Photos – are they always taking pictures and pretty good at it too? They can sell their photos to places like iStockPhoto and Fotolia.