Teenagers earning money
America has always had an entrepreneurial spirit and the youth of today are continuing that trend. Above and beyond chores and setting allowances, it is good for kids to get a summer job or find some way of earning their own money. In the old days, a paper route was the first job for a kid in America. Times have changed. Some younger Americans these days are learning to sell goods and services online to make cash.
Teens are using sites like Etsy to get items to market. Be aware there are age restrictions on sites, so make sure that you obey any local laws so you don’t do anything illegal. You’re allowed to sell on Etsy if you’re at least 13, but remember if you’re under 18, you’re considered a minor. You have to reveal this in your status as a minor in your profile’s “About” section.
Another way to earn money online is Fiverr. If you are age 13 and older, you can register on the site. Teenagers can post listings for many services such as coaching people through tough levels of video games. Some teens are writing copy or doing design work. There are also sites like Freelancer.com that have more stringent restrictions. You need to be at least 16 to use Freelancer.com. Depending on local laws, those under 18 can use an adult’s account, as long as they have permission from the adult whose account it is. Once they are earning, they need to do something with their money. Once they are earning, they need to do something with their money.
“Once you start earning money, you need to start understanding how best to start saving,” says Scott Ente, Senior vice president of David Lerner Associates. “It is important to think about the future from as early an age as possible. The earlier you start saving the more money you will have later in life.”
73 percent of teens reported wanting more personal finance education in 2021. It isn’t any wonder given that 32 percent of teens don’t know the difference between a credit card and a debit card. Teens may lack confidence in their knowledge of personal finance but many kids are opening bank accounts. According to Statista, in 2022, approximately 39 percent of children from 8 to 14 years old owned a savings account in the United States. Some Young Americans have even diversified into cryptocurrency and digital assets (around five percent). American teens look set to be a strong generation when it comes to making money and continuing America’s entrepreneurial spirit.
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