Home' Trinidad and Tobago Guardian : June 29th 2014 Contents Once you're fired up about investing, dreaming of
all the money you can make, you may suddenly realise
something: You need money to invest!
There are two main ways to gather that moolah:
make more money and save more money.
The most common way that most young people
get money is through an allowance. Not every teen
gets one, of course, and your parents' beliefs or finan-
cial situation might mean you get little or nothing.
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.
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.
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 money
from tutoring. If you're good at a subject, you may
be able to earn money by helping others to understand
it. Mowing lawns, raking yards, cleaning. 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.
Create Web sites. If you know enough about com-
puters to create well-designed Web sites, you can
make some good money. Many small companies and
organisations pay thousands of dollars to have Web
sites built for them. Some small companies might
also pay you to help maintain their sites, adding con-
tent, and solving problems that arise.
Be crafty. If you enjoy arts and crafts, you might
make jewelry or other items and sell them.
Once you've made some money, save some!
Saving's a priority
Save before spending. Whenever some money gets
into your hands, from a job or your allowance or
whatever, 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.
Consider the opportunity cost of purchases.
JUNE 29 • 2014 www.guardian.co.tt SUNDAY BUSINESS GUARDIAN
FINANCE | SBG19
learn from your parents in many other
ways as well. Although you most likely
don't have a credit card yet, ask your par-
ents to explain to you how their card works.
Ask them to explain the difference
between debit cards and credit cards, and
to share with you why they use each of
them and when. If you already know the
difference between different types of cards,
you can still learn by watching your parents
interact with money.
Perhaps they have cards that offer
rewards points. Perhaps they take out a
certain amount of cash each week for dis-
cretionary spending, and once it's gone,
they don't spend anything else. If possible,
ask your parents to explain paying bills to
you. Even if your parents are uncomfortable
sharing the specifics of their finances with
you (which would be completely under-
standable), you can still learn from them
just by discussing how each type of savings
account, card, and bill works.
Although it's tempting to spend, spend,
spend, when you are a teen, learning and
practicing good financial habits now will
protect you in the future. Whether you
decide to go on to college (where you might
have to pay for your own food and utility
bills) or to move out of your parents' house
and pay your own bills immediately, you
will need these skills in order to become
a thriving adult with a strong financial
From Page 18
Learning by example
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