We will discuss how to make money as a 15-year-old online, including money management, budgeting, credit and financial planning for the future.
There are many ways how to make money as a 15-year-old online today. In fact, there is high demand for young people in jobs all over the United States. However, teens commonly run into trouble when it comes to spending, managing a budget or using credit cards. For example, when a teen is given a credit card the first time, they may believe that there is no limit to how much they can spend. However, they quickly find out that credit cards have limits, and you are penalized by the credit card company when you overspend.
In this article we will discuss how to make money as a 15-year-old online and how they can keep the money through learning good habits. Every parent has the ability to influence their teens personal finance habits. However, whether the influence is positive or negative is determined by you. Here we will discuss how to make money as a 15-year-old online and how you can help teach teens about saving, budgeting and investing.
Side Hustle: How to Make Money as a 15-Year-Old Online
Having a side hustle has become more common these days. Unfortunately, many people work a second job simply to make ends meet. But there’s no shame in working hard to get ahead. Common side hustles today include:
- Sales Person
- Call Center Representative
- Online Retail Sales
- IT Support
- Website Manager
- Social Media Manager
- Online Content Creator
- Gig Economy Services (Fiverr)
- Freelance Work Online
Teens Learn by Working Hard
One of the great methods for how to make money as a 15-year-old online is giving them a job. For example, working as a tutor or a freelance writer or content creator can be fulfilling. They can earn money by completing individual jobs on their own time. Telling teens about money can be helpful, but experience is the greatest teacher.
If teens are ready for responsibility, then encourage them to take on a real online job outside the family home. There are many jobs available for entry level workers like teenagers. It’s not glamorous to complete surveys or work as a tutor, but these are great opportunities for teens to learn the value of money earned.
Seasonal Jobs Include Retail Online Sales, Tax and Call Center Workers
Another one of the methods for how to make money as a 15-year-old online is to work seasonal jobs. During the holidays, seasonal workers are needed in many areas. The fall holiday season is the busiest shopping time of the year. Employers hire extra staff to help with the higher demand from customers. For example, seasonal jobs might include retail sales, call center operators and merchandise sales.
In addition, other seasonal jobs include working in the tax industry during tax season and working call centers for resorts during the summer or winter vacation season.
Start a Business
There are Great Opportunities for Starting a Business, Including Service Industry Business, Home Based Business and Home Sales Business
Teenagers don’t usually consider starting their own business. But, one of the possible ways how to make money as a 15-year-old online is by starting a business. There are endless opportunities for someone willing to work hard. You can start a business locally in the service industry, such as website management or creation, web content creator, IT management, social media consultant, online product sales and much more. Most of these businesses don’t require an office or much startup money and can be operated out of a home office.
One of the most popular options for online work is to sell things online on Amazon, eBay, Etsy, Facebook Marketplace or other e-service platforms. You can buy and sell new or used items, even create your own brand. There are many options for selling goods online and learning how to make money as a 15-year-old online.
Develop Good Habits and Learn Investing
Developing good money habits is critical on the path to making and keeping money. Many people find that making money is easy; however, holding on to the money you earn can be difficult without understanding good money habits. Once teens establish goals and a budget plan, you must implement good habits. Good habits include:
- Budget Control
- Staying the Course
- Investment Knowledge
- Strong Habits and Discipline
Budget control means that you operate under a balanced budget. Spending is controlled so that remaining cash flow is routed toward smart investments. Learning to invest now can make life easier for young people as they move into middle age.
Staying the course requires that you consistently repeat what you are doing, so long as you are successful. If something doesn’t work, it can be changed. But the power of earning from compounding interest is continuously investing money.
Being a good investor requires that you continuously educate yourself. You want to learn as much as possible about your investments. You will accrue knowledge and wisdom on different investment strategies over time.
Learning what has worked for other successful investors is the easiest and most secure strategy for success with money. Successful investors get up early each morning and focus on their goals. Investing money is a priority to them and their focus is on earning and business. Many successful people make time for self-development activities, such as exercise and meditation. And they make these habits part of their daily ritual.
Learn to Save Money Every Paycheck
Put Aside 10-15% of Your Regular Income for Investment
One of the habits that are important related to how to make money as a 15-year-old online is learning to save some of each paycheck or from their allowance. Make it a habit to take 10-15% of money earned and save it. After a short time, you will realize that you don’t even miss the money.
Make saving 10-15% of each paycheck easy by setting up an automatic money transfer to their savings account. For example, each time their paycheck is deposited into the checking account, have an automatic transfer set up that moves money into the savings account. Some people find it helpful to have a savings account that is in a different bank. This reduces the temptation to spend savings.
Saving a small portion of your regular earnings is far from a new concept. Financially successful people have been doing it for hundreds or thousands of years. Saving can be a great tool when it comes to how to make money as a 15-year-old online. Read The Richest Man in Babylon to learn more.
Learn to Live Below Your Means
Reduce Bad Habits like Eating Out, New cars and Designer Clothing
It is important to form good money habits when searching for how to make money as a 15-year-old online. In many cases, frugal living is the cornerstone of financial success. This simply means spending less than you make. A simple monthly budget can assist you in determining whether you are meeting your goal. And these good habits can carry forward for a lifetime.
Unfortunately, living frugally is not popular in the 21st century. Popular culture dictates what “normal” consumer behavior looks like. And it’s considered normal to go out and spend money at restaurants, on vacations and the like. In addition, it’s “normal” to buy a big house and drive a new car.
Financially successful people don’t ascribe to normal behaviors. People with the millionaire mindset only purchase what is needed. They don’t buy new cars or fancy things. As a result, the extra money saved from this frugal behavior is put to work in investments.
Budgeting Can Help Teens by Creating Good Habits, Learning to Save and Becoming Organized
One of the critical ways how to make money as a 15-year-old online is by learning how to budget. When you don’t use a budget, money that you earn simply disappears. Budgeting is one of the critical steps that can help teens take control of their life and get ahead. In the process of taking control, we also prepare ourselves for better quality of life by having more money. Having more money means that you have more power to dictate the kind of life you want.
How Budgeting Can Help Teens:
- Improve your credit score
- Learn to save money
- Learn investing
- Stop wasting money and curb bad habits
- Obtain financial freedom
Create a Budget
One of the best ways to start saving money is for teens to learn to budget. That is, it’s important to keep track of your money. And a budget helps you achieve that objective. In addition, budgeting on a monthly basis creates positive habits for teens.
Having a balanced budget means spending less of your paycheck. Preferably, you will have a significant amount of money left over to pay off debt and save for investing. In short, everyone should budget, whether you are a large corporation or just one person.
There are many things to consider when starting a budget. Need help with budgeting? Read more about budgeting in “10 Things to Know before Starting a Budget.”
Beware of Credit Cards and Debt
Credit Cards Can Create Painful Financial Lessons for Teens by Overspending and Interest
One dangerous lesson to learn related to how to make money as a 15-year-old online is overspending on credit cards. In the modern era, gaining access to credit is far too easy, even for teens. Earning money can be easy. However, if you borrow money by using a credit card, it must be paid back. This can cause teens to feel defeated when they work hard but spend their money on credit card payments.
Having a credit card can be a double-edged sword for young people. First, using a credit card can be a learning tool about how debt works. In addition, teens can learn about paying bills each month. However, there’s a risk that comes with credit: overspending. When teens spend money than is allowed on the credit card, or spend more than can be paid back, it can be a painful lesson in finance.
If a teen makes a mistake with a credit card, or overdrafts an account, it can become a learning tool. Use the situation as an opportunity to discuss personal finance and answer questions for teens. Teens can learn the lesson of debt and compounding interest when they must pay back what was borrowed.
Learn About Banking
Once your teen has demonstrated that they are serious about money, opening a bank account for them may be an option. Having a bank account will teach them responsibility with money. They will need to learn how to balance a checkbook and know not to overdraft the account.
Learn About Credit Scores
During a teen’s journey to become intelligent about money, it’s important that credit scores are tracked. In fact, teens do not have a credit score yet, so opening a financial account or borrowing a small amount of money will be a way for them to establish a credit history.
In addition, now is an important time to discuss the threats that exist regarding credit fraud and theft. Teens will learn that you must monitor your credit for errors and for fraud. Furthermore, establishing a good credit score can make larger purchases possible, such as cars and houses. There are a number of companies that can help with credit monitoring.
Establish Your Financial Goals
Before your teen starts budgeting, it’s important to know what your goals to establish. For teenagers, knowing what you are working toward makes it clear in your mind. Budgeting can be a great personal sacrifice but when teens have their goal in sight, things are made easier. For example, if a teen is saving money for a car, they become clear about what they are working toward.
Final Thoughts: How to Make Money as a 15-Year-Old Online
Teaching teens about money is something that can pay dividends for them later in life. And clearly there are many methods for how to make money as a 15-year-old online. Unfortunately, personal finance lessons such as budgeting and saving are not taught at most schools. It’s up to parents and family to help young people become more financially responsible. Finally, as teens learn money management, budgeting and financial planning they are better prepared for a successful future.
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