Tag Archives: young people

How to Earn Income in High School

The benefits of high school students earning income are well documented. Not only does this allow young people to assume responsibility and grow as individuals, but making money also prepares high schoolers for the real world. As adults, young people will have to work and be able to earn enough money to support themselves and provide a suitable, comfortable life.

High schoolers should want to get a head start and moreover, this is something which parents and guardians should encourage. However, there are still certain rules and laws regarding work for underage minors. Learning how to abide by the aforementioned guidelines while simultaneously earning income is guaranteed to set young people up for incredible success.

Look into Working Odd Jobs

Some of the best money making opportunities for young people come in the form of odd jobs, explains Well Kept Wallet. This is attributed to the fact that high schoolers are completely inexperienced with working and must also maintain their academics in school.

Some of the best odd jobs include babysitting, pet sitting, restaurant work, dog walking, washing cars, working in retail, etc. While these jobs don’t necessarily pay the highest fees, they are very educational experiences and breed a strong work ethic. This will prove to be beneficial, especially after high schoolers mature and enter the real world.

Get an Internship

Contrary to popular belief, internships are not mutually exclusive to college students. There are a slew of high school internships which are available for young people. Many of these internships also offer compensation; this can be a great opportunity for students who are eager to learn, grow, and network. There are countless stories of young people getting internships and developing lifelong relationships with impactful mentors.

This is certainly something which success-minded high schoolers should look into.

Look into Entrepreneurship

While many high school students are encouraged to attend college and eventually work a traditional 9 to 5 job, this lifestyle is not for everyone. There are some young people who have the entrepreneurial spirit and they should explore that spirit. Entrepreneur advises students who are interested in starting their own businesses to seek out mentors, involve themselves in extracurricular activities, and familarize themselves with leadership and marketing.

A Final Word

The world we live in is changing and evolving with each passing day. There are many opportunities out there and it’s never too late to get started. Young people who begin earning income while they are still in high school will definitely have an advantage over their peers who fail to make the most of these opportunities.

Parents also play an integral role in the economic success and advancement of their children. While young people can and should do everything in their power to take advantage of opportunities, support and encouragement from parents or guardians will make all the difference in the world.

 

Authored by Gabrielle Seunagal

Financial Advice for Teenagers

Financial freedom, financial security, and financial prowess are feats which some people spend decades working to achieve. Like most things in life, the earlier one begins to practice, the better off they will be. In the case of financial independence, teenagers who learn advantageous skills prior to adulthood are more likely to succeed than their unaware counterparts who have to learn via various mistakes.

Financial missteps can be quite costly; recovery can sometimes take anywhere from months to years to decades. This is why having helpful information and knowledge in one’s arsenal at a young age almost always serves people well and helps them to avoid falling into some of the most common financial pitfalls.

Open a Checking and Savings Account

One of the best ways for teenagers to become acclimated with money, finances, and managing funds is by opening a checking account and savings account; this can be done at a local bank or credit union, as cited by Midwestone. Not only will this help young people familiarize themselves with building up money in these accounts, but they will also have to exercise discipline. Avoiding overdraft fees, making ongoing deposits, learning how to use an ATM, putting money aside in a savings account (and leaving it there!) are skills which every teenager can benefit from. These are critical skills which young people will have to master and implement once they enter adulthood. The earlier they start, the better off they will be when it’s time to enter the real world.

Differentiate Between Needs and Wants

Everyone has needs and wants; this is applicable regardless of whether one is a teenager, full fledged adult, or senior citizen. However, the ability to differentiate between needs and wants is absolutely paramount to financial success. Rent, utilities, groceries, phone bills, etc are some of the things which fall into the category of needs. Eating out, shopping, going to the movies, traveling, etc are wants. Now, there is nothing wrong with having wants and desired experiences. They are a part of life; one of the greatest feelings in the world is being able to comfortably do as one pleases without having to stress over funds.

Nevertheless, there much always be a clear mental distinction between needs and wants. Moreover, teenagers should understand that they have the obligation to make sure their needs are covered and taken care of first and foremost. Once these matters are settled, they can then move on to addressing their wants.

Take the Process in Stride

At the end of the day, there are countless tips for teenagers who are seeking financial advice. However, similarly to opening a checking account/savings account and differientiating between wants and needs, taking the process in stride is also of great importance. Being as prepared as possible is great, but some things take time. Very few individuals will start off their adult life with a complete awareness of how to effectively manage money and make the best financial decisions. Nevertheless, following the steps mentioned throughout this piece will certainly prove to be beneficial.

Authored by: Gabrielle Seunagal