6 Ways to Earn Money as a Teenager
As you watch sitcoms showing teenagers meeting at the same fancy coffee shop every day, do you ever wonder — how do these people afford this?
As teenagers, we’re sure you’ve begun to appreciate the value of some age-old aphorisms adults often pass down to teenagers. Like the one which says that you only start appreciating the value of something when you lose it.
At this point, most teenagers would look at their wallet and sigh, “Yep, they got that right”.
There are no two ways about it—every teen needs money. And the only sustainable way to get money is to earn it, whether you’re a teen or an adult. Teenagers can earn money in a lot of interesting ways, many of which are often overlooked.
Why Should Teens Start Earning?
Sure, why would a teenager bother earning money in their teenage years when they’ve effectively got their whole lifetime to do exactly that?
The simple answer: Control and Freedom.
Financial empowerment is the cornerstone of independence. A degree of financial independence gives teens a level of control over their own lives. Moreover, beginning to manage money as a teen is a great way to practise and learn from mistakes in a relatively sheltered environment.
With the housekeeping out of the way, here are our 6 top ways in which teens can earn money in 2021:
1. Internships
Internships are among the most popular earning opportunities for teenagers. If you have some marketable skills and a willingness to learn, go ahead and apply for internships in your teens. Many internships offer stipends to teens and the additional bonus of getting on the job training and networking can significantly boost chances of getting jobs even before you're done being a teenager.
2. Allowances
Money is everywhere. So start creating opportunities. Teenagers do not need to be unproductive members of the household. Offer to do chores or tasks for parents and negotiate a payment in return. Help out with gardening, deliver parcels, or do chores around the house in exchange for an allowance. Sometimes, teens receive allowances without properly recognising its potential, but viewing it as ‘income’ instead of ‘pocket money’ is a good foundation. .
Teenagers can also prudently save part of their allowance to build a personal safety net before 18. (Btw, the Yodaa payments app helps smart teenagers save part of their income into a Stash account. Just saying.)
3. Freelancing
Nope, this isn’t about freeing a guy named Lance (though that would be awesome). Freelancing is a great way for teens to earn money and make a mark on the world. Whether you use photography skills to cover weddings, or coding and design skills to make posters or websites for local businesses, freelancing is a great earning opportunity for teenagers. If building a personal brand is your strength, social media companies can pay good money even to teenagers if they bring in good advertising revenue.
4. Tournaments and Contests
The words ‘prize money’ is alluring to all sections of society, not just teenagers looking to make money. If you enjoy sports, poetry, video gaming, model UN, quizzing, typing, public speaking, or any activity that has a legal contest scene permitting teens to participate, you’re golden. No wonder smart teenagers love co-curricular activities
5. Startup
If you’re a teen reading this looking to figure out how to make money, then you should know that it is 100% viable for teenagers to start a business. We’ll also let you in on a secret: there is no ‘right’ age to become an entrepreneur, the world has a plethora of people who found their spark in their own time. If entrepreneurship calls to you, use that spark as a teenager, consult with adults, and get going!
6. Capitalise on a hobby
This path guarantees maximum happiness because work is not ‘work’ if you’re truly enjoying the process. The teenage years are a great time to figure out how to earn from something you love doing anyway. If you like stitching words together, seek to get published. If you like to strum the strings of a guitar, join (or start) a band and release your music to the world. As young teens find their identity and discover their interests, it gives them a huge chance to be dynamic in terms of their income streams.
If you’ve already convinced yourself that only teen prodigies make it in the world — let us remind you that no amount of innate talent is as vital as the ability to work hard and work smart. Don’t believe us? Just ask Angela Duckworth.
The Smart Money Blog
Fun fact: Elon Musk sold his self-made video game called ‘Blastar’ for $500 at the age of 11.
The Smart Money Blog
If you’re a teen seeking to earn money before age 18, we commend you. Just remember, there are many who would wish to take advantage of your dreams. Don’t trust opportunities too good to be true, and when in doubt — ask!
Right, you’re not a teen fully equipped to earn money before your teenage years are over. Shoot for the moon!
Yodaa is a smart payments app and prepaid card for the entire family. Join the club of the smartest financially empowered teens in India and SE Asia.
