If you've got a teenager or two whom you care about in your life, permit us to help them make some more money. (Consider forwarding this email to anyone whom you think might be interested -- just click on the "Email this page" link in a box near the upper-right corner of this page.) And keep reading to learn about our $1,000 contest.
Help your child live well -- and maybe win $1,000, too!
You can spare your children (or any children you know) years of financial stress and hardship if you'll take some time now to:
- Talk to them about money. Be as open as you can be about your own finances and how much things such as electricity and mortgages cost. Show them how you manage your money. Interest them in the power of saving and investing. If you subscribe to investing newsletters or periodicals, discuss them with your kids.
- Get them started saving and investing. You can help move the process along by matching some or all of their savings and investments, and perhaps even by opening a custodial brokerage account for them.
- Point them to resources that will engage and inform them -- might we suggest our online area for teens or our book for teens? A stroll through your favorite bookstore will turn up other resources, too. Another resource is The Mint, which addresses kids, teachers, and parents.
- Encourage them to drop in on our Teens and Their Money discussion board, where they can learn from fellow teens as well as adults. This discussion is a great example of what you might find there -- an 18-year-old asked for help with his investing and got a very useful earful.
- Finally, invite your child to compete for $1,000 that we'll be giving away soon. We're running a contest for the next few years offering $1,000 annually for the most eloquent and effective advice from a teen about personal finance, investing, or business. The deadline is looming -- it's Dec. 31.
Ways teens can make money
Whether or not your teen wins our $1,000 prize, he or she can still generate a sizable income. In a corner of our Teens area, we offer many suggested ways that teens can make money. Here are just a few, to give you an idea of what's there. These have all been offered by fellow teenagers:
- Pet-sitting. When someone in your neighborhood goes on vacation, there's often a pet that needs looking after. Also, with people working longer and longer hours these days, some will pay you to visit their pets during the day and take them for a walk.
- Jobs matching your interests. If you enjoy working with young children, see whether any day-care centers near you need help. If you like the great outdoors, check with your local parks department. If you like movies or recreation, look into movie theaters or amusement parks.
- Mowing lawns, raking yards, shoveling snow, gardening. 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. [If neighbors know that you know your way around Home Depot (NYSE:HD) and Lowe's (NYSE:LOW) and that you can fix things around a house, you can make money as a handyperson.]
- Be crafty. If you enjoy arts and crafts, you might make jewelry or other items and sell them -- perhaps on eBay (NASDAQ:EBAY), where you'll have instant access to a large customer base. Some painters and photographers are making money selling their work online, too, although that can be harder to do.
- Serve the elderly. Not only might you find work in a nursing home or retirement community but also you might serve older people in your neighborhood. Many older people can't get around much. They may welcome your services delivering groceries, running errands, or doing odd jobs around their home.
- Be a computer guru. Many people buy computers from Dell (NASDAQ:DELL), Hewlett-Packard (NYSE:HPQ), or elsewhere and have a lot of trouble setting them up and trying to use them. Even if you have an intermediate familiarity with computers, you might offer your services as a local computer consultant. You can set things up, solve problems, answer questions, teach programs, and show people how to send and organize email, upload digital photos, buy something on Amazon.com (NASDAQ:AMZN), use Instant Messaging, and conduct online searches with Google (NASDAQ:GOOG) or other search engines.
- Deliver newspapers. If you sign up to deliver a lot (which may be more possible in areas with apartment buildings), you can make a good bit of money. Some teens make $100 or $200 per week or more. With that kind of money, they can buy stock in The Washington Post Co.
- Use your skills. Think about what you're good at and try to teach others -- adults or children. You might offer piano lessons, horseback riding lessons, or Spanish lessons. Maybe you can juggle and entertain at children's birthday parties. If you play an instrument, perhaps you could play at weddings or other events. If you write, you could try to sell articles to magazines or newspapers.
- Volunteer! If all else fails, or even as a first choice, consider volunteering. Don't just do the first thing that pops into your mind, though. Be a strategic volunteer. Think of a field or company you'd like to learn more about. If you're really concerned about hunger in the world, volunteer at a food bank. If you're thinking about becoming a doctor (perhaps one who treats the elderly), consider volunteering at a hospital (or a nursing home). You'll learn a lot, and best of all, volunteer jobs sometimes turn into paying jobs.
More on teens and money
Over the years, we've written a lot about teens and children and how they can become more financially savvy. Here are some articles you may want to glance at:
- What You Didn't Learn in School
- Growing Up Gardner, an interview with the Fool co-founders
- Put Your Teen to Work
- Should You Drive Your Teen Into Debit?
- Investment Clubs for Teens
- The Terrible Teens
- Teach Your Kids About Money
- How Millionaires Are Born
Finally, don't forget our $1,000 contest -- the deadline is Dec. 31. Click here for details.
Selena Maranjian regrets that she's too old to enter our $1,000 contest. She owns shares of Amazon.com, eBay, Home Depot, and the Washington Post Co . For more about Selena, view her bio and her profile. You might also be interested in these books she has written or co-written: The Motley Fool Money Guide and The Motley Fool Investment Guide for Teens . The Motley Fool is Fools writing for Fools.
