Making and Saving Money For Young Teens

At about 8 years old we begin to realize there are some things we want that mom and dad just aren't going to pay for. By 10-12 we understand that outside of mom and dad's wallet, or the birthday card from grandma, to get money we must earn money. below are some ways for teenagers to make money, tweens too.

It is possible to make money even when you are just a pre-teen. You will need a bit of creativity and ideas to get started and there are ways to go that don't require lemonade.

I was just like you not so long ago. At 8 I was making friendship bracelets and selling them a quarter a piece to my neighbors. At 13 I had my first business selling sports cards along side my dad's canopy business at flea markets.

Before you can begin earning money for those new Sketchers or for the XBox 360 game you didn't get for Christmas, you need to brainstorm ways to make money as a teen.

Brainstorming is what you do when you put on your thinking cap and really get into your thoughts. This is a very important first step to buying the things mom and dad won't pay for.

^{For your "how to make money as a teenager" brainstorming session you will need}

• ^{_{A quiet place free from distractions}}

• ^{_{Your Make Money Save Money Notebook}}

• ^{_{pencil or pen}}

Now when you are in a comfortable place. Rack your brain for every idea you can think of ways to make money as a teen or tween. Here are some suggestions.

• ^{Babysit or be a mothers helper}

• ^{Mow Lawns or yard work}

• ^{Walk Dogs}

• ^{Have a Garage Sale}

• ^{Create you own product to sell (crafts for example)}

• ^{Tutor younger kids with school work, sports, dance, etc.}

• ^Housekeeping

Keep all of your ideas in your brainstorming section of your Make Money Save Money notebook.

All businesses keep track of records. Most smart adults keep track of how much money they make and where it goes.

You should do the same! I suggest getting a notebook. Either a 3 ring binder you can add pages and dividers to. You can always start with a spiral notebook you can divide into sections. Create the following sections using either dividers or your own methods.

• Brainstorming

This is where you will put your ideas and thoughts. Whether it is how to earn, who to earn from, or what you will do in the future.

• Jobs

For recording the different ways you will be making money. I suggest one page per job idea. This way you will have plenty of space for listing how you are doing these jobs, when, and to whom you will try to do them for.

• Clients

You will need to keep track of who your clients are. Clients are the people who are paying you for jobs you do for them. For each person keep track of their name, address, and phone number. Also include what jobs you have done for them.

• Money Earned

Keeping track of how much you've earn and where it is coming from not only keeps you motivated, it shows where you are succeeding and what areas you may want to spend more time trying to do better in.

• Wish-list

We all love to buy new things. Shoes, video games, make-up, whatever you have a goal to buy, list it in your wish-list. Next to the item you want to get put a price so that you will know how much you need to save.

• Long Term Savings

One day, you will want a car and to go to college. Did you know that most educated college graduates have huge college tuition debts they are still paying? Make a plan for how you will avoid this and get yourself motivated for saving money. Plan for a portion to go towards a savings for both a car and your college. Make goals for savings! You will be glad you did!

Whether you have decided to babysit, do housecleaning, sell your own product, have a garage sale, or "your idea here" it's important to market yourself. Marketing yourself means getting your name out there. There are many different ways choosing what is best for you depends on what you will be doing. Keep in mind that you should always get your parents permission first

If you are planning to earn money by doing babysitting, housecleaning, yard work, etc. Get your neighbors attention. Create a flyer using your computer and let people know that you are looking for work. This can be as simple as putting a attention grabbing title or picture on your flyer and then putting your name and phone number and what you are wanting to do.

Adding a price is not necessary but it can be helpful if people know what to expect. If you are planning to babysit, putting $5 per hour for the first kid, $1 for each additional kid is a fair deal for a babysitter and if your clients know ahead of time what to expect they may be more inclined to hire you. Be sure to mention how late you can babysit till and how much notice you need to make plans.

Remember to always add that prices may vary. For instance, If you are going to be mowing lawns. Include $7 for lawns mowed, prices may vary for larger yards.

Do Not list all of your personal information. A phone number and your name is sufficient. Do Not pass out flyers to people your parents may not trust. Go to neighbors you already know. Try family too!

HAND OUT FLYERS!!

Most of us are shy about things. The difference between getting a job and not could be personal presence. Leaving a flyer at someones door will likely end up only in the trash. Going door to door and introducing to people that you are anxious to begin working and would love to help them out in exchange for some cash. Businesses hire people from interviews, not just by applications. Your clients want to meet you before you do the work. They have no idea what they are getting if they are just calling a number out of the phone book.

Regardless if you are selling something, or providing a service, your repeat customers/clients are your best chance for more money. They already know that you are RELIABLE and HONEST, and DO THE JOB RIGHT! If they don't know yet, this is what you want them to know.

Don't just get the work, do the work the best you can. Let your client know that you are greatful for this opportunity and that you are giving it your all. If you only put half the effort into a job, chances are your clients will just do it themselves next time instead of asking you to do it again.

GETTING PEOPLE TO CALL YOU AGAIN is done by doing a fantastic job. DO the job so well that it becomes well worth the money they are paying you and time they are saving by not doing it themselves.

Also, remember to always be on time.. stick to your appointments, call in advance if you have to cancel or reschedule and always be friendly and respectful.. Good Luck!

There is nothing wrong with spending the money you've earned but you should plan to SAVE some of it too. Cars and College are expensive and not long from now you will need money for both of these.

A first car can cost around $700 to $2000 if not more. If you start putting half of all the money you make right now, when you turn 16 you will have a great start on getting your first car. If you don't already have one, Get a savings account and start putting that money away. If your parents are OK with it look into online banks. Interest rates tend to be higher with internet banks such as INGDirect. You can get 1% to 3% more in one of these accounts.

You will probably never be able to pay for college just by mowing lawns and babysitting but every penny saved helps. Did you know there are investment savings accounts just for education? College saving investment accounts can not be withdrawn from without high penalties early, but they can earn a great interest rate higher then what your bank's savings account is offering and can be withdrawn from as soon as you start college. You will need a few hundred to get started but it is well worth it in the long run. Ask your parents to speak with their banks investment banker to see if this is something that would be right for you.

We all love to spend our hard earned money. Watch out for impulse buying with your newly earned cash. Impulse buying is what we do when we are shopping without purpose. We buy things we did not plan to just because at that moment we decided we wanted it.

Don't get caught in the impulse buying trap. Plan your spending. Allow yourself a small percentage of your earnings for things like snacks and sport drinks. The rest should be planned for either long term saving such as for a car or college, or short term saving.

Short term saving is for the big ticket items such as video games, clothes, sports equipment, jewelry, and more. In your Make Money Save Money Notebook keep an updated list of the things you want to buy. cross out the items you've changed your mind on, add the things you think of randomly, and circle and highlight the things you want the most.

There is nothing wrong with rewarding your hardwork. The more you can save the better reward you can get. Make saving goals to encourage yourself to hold out and get the rewards you really want. Just before you have enough to buy what you want consider shopping around and making sure you are getting the best sale price. Spending less money means having more left over. If the XBox game that costs $60 goes on sale for $50 when you buy it, thats $10 more dollars you'll have towards your next purchase!!