Teens are always looking for extra spending money; and the one thing they usually have in the summer is time. So instead of having them sit in the house all summer on the internet or text-messaging, get them out of the house and put them to work!
Seriously though, encouraging your teen or child to start earning money and saving some of their earnings is a great way to lead them down the path of financial responsibility as well as learning to take personal responsibility.
If your teen is earning and saving their own money, Smarty Pig offers targeted savings for savings goals, as well as one of the highest interest rates of all online high interest savings accounts, and is a great way for them to establish savings goals.
Here are 15 ways your teen can make extra money this summer:
Washing & detailing cars- A task that a lot of people don’t like to do; but everyone wants a clean car inside and out.
Babysitting- The old standard.
Household chores for others- Especially for elderly neighbors, or someone just too busy looking for a little help with cleaning, etc.
Pet sitting- Most people would rather leave their pets at home than board them when they go on vacation.
House sitting/watching- I used to do this one also for a couple of neighbors when they went out of town, taking in their mail, watering plants, etc.
Dog walking- Offer your services to neighbors who work long hours but want their pets to get some exercise.
Minor home improvement- Like painting, house washing, etc.
Cutting grass/yard work- I used to mow lawns myself when I was a teen, and it paid pretty well even back then. Teens can also do gardening, raking leaves, etc. Many people don’t really like to do this themselves, but grass grows like crazy in the summer.
Lifeguard-The YMCA and country clubs are always busy during the summer months. if you have a pool, give swimming lessons to younger children.
Summer camp counselor- Another great seasonal job for teens.
Daycare centers- These usually have higher enrollments during the summer as well and are looking for part-time help-perfect for teenagers.
Tutoring- Many parents are looking to give their kids an “edge” or additional contact time in certain school subjects during the summer.
Computer lessons/help- Let’s face it, most teens are a lot more computer literate and web-savvy than adults. Why not pass the knowledge along to others and make a little money in the meantime?
Sell things on Ebay- Old CD’s, movies, video games, and books are just a few things that can still be sold used for money.
Or have them get a part-time job at a restaurant, the mall, or even a fast-food joint.
Alternatively, you can pay your teen to do work for you, either for many of the ideas above; or for extra chores or projects you have been putting off and can’t find time to do yourself.
Again, if they start earning money, it is great time to teach them about saving and investing a portion of what they have earned. Suggest to them that they save certain percentage, and open a high-interest savings account for them. If they are saving up for a big purchase, try out smartypig.com as a way to track their savings toward their goal. Setting up their own online savings account, such as ING Direct, is a good idea too.
Many of these ideas can translate into something they can do with their free time during the school year as well- as long as they are keeping up their grades, of course.
Any other suggestions for ways for teens to make money?
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