I am now getting to know things that I wish had on how to make money as a teenager, when going past teen years. I believe I am not the only person looking back now, but if had these facts when I was young, I would be well off than I am today.My goal is to teach teens about best jobs for teens, best paying jobs for teens, and most importantly how to get a job as a teenager, thus showing them the value of money, that will get them on the right track.
Teaching teens how to make money as a teenager is not a bad thing, no one would say that, but as to how to go about it, is the tough task. To go about this, I will put forward 4 essential principles that will help you.
You will need to educate yourself as a teenager on these topics listed below:
- How to make a budget
- Impulse buying.
You are not going to become skilled financial planners in no time, or in a month, or even in a year. Your aim is to go step-by-step. So study one thing at a time, until you have mastered the skill. No need to rush.
Learn them by taking action. You can’t make money as a teenager by only learning. Forgive yourself if you make mistakes from the beginning. Research about these mistakes. Soon enough, you will be on the correct path by taking action.
1. How to make a budget.As a teen you must have control of your money and this can be achieved through budgeting. Don't think money will always be provided for you as a young adult, that you don't have to be held accountable for your spending. A budget is to help you control your spending.
For instance if you are at the moment spending 40% of your money on eating alone, try as much as possible to cut this. And do the same for other expenses — Have full control over your money.
In the end you will likely be able to cut down on unnecessary stuff. Learn to save for other things if you want them. After a period of time, you will learn how to take decisions, through trial and error. This will take time, but it's excellent you learn now as a teenager.
2. SavingOnce you become fully aware that there’s more to money than just spending, you will not like to spend on something which is bigger than the amount you have on budget. That is when you begin to learn about setting saving goals.
You might also create a table on the computer, that shows your goal, and little savings achievements along the way. That way you can get excited about watching your savings grow. This is will help you make more money.