This article was last updated on August 10
If you’re a teenager or just a parent who wants their teenage child to make some of their own money for the future, you may find earning cash can be quite difficult during the times we are in now. However, these restricting times have also given us several new opportunities for teenagers to earn some actual income.
Getting a regular job right now, especially for a teenager, can prove to be challenging but there are some alternative ways to approach your search for employment income. Your neighborhood is essentially a gold mine for jobs. Many people have had difficulty with mowing their lawn, washing their cars, and even keeping their pets busy because of the pandemic and working from home. That is where an enterprising teenager can come into the picture. If you can advertise yourself as someone willing to help with those problems, then you will find yourself earning some decent cash quickly! It is imperative, however, that you have a schedule/calendar to follow and that you don’t overwork yourself. If you’re still struggling finding work, then you should consider making your daily chores a source of income. But you will need to negotiate with your parents about the amount of pay you get based on how consistent you are with your chores and you should ask your parents for a raise periodically.
Another great alternative would be selling anything that you don’t need any more or has been sitting around gathering dust in your basement. I am sure your teenagers have old gaming consoles, shoes, or even souvenirs that could get you some easy cash. Selling stuff online is easy nowadays with just your smart phone needed for sending pictures and uploading to websites such as eBay, Offer Up, Amazon where there are millions of users browsing through their stock. And if you’re an individual with a creative mind, you can use that skill as an alternative source of income by selling any creations you’ve made including artworks, computer programs, and more (Etsy or Facebook marketplace is the best site for this). The main key to this strategy is to make sure that you have great pictures and succinct descriptions of these items as most people now search for things on their mobile devices, otherwise your items for sale will get lost among the other junk being sold online.
As a teenager, you probably use the internet quite often for interacting with friends, checking out the latest trends, or using it to study. Fortunately, the internet is also a gateway to many sources of income for teenagers. Many websites offer rewards just by simply answering some surveys. However, make sure you do your research first about certain websites so that you don’t get scammed. Social media sites, like Instagram, Facebook, and YouTube can be a way of generating revenue. If you’re willing to make any sort of content that you want to post to any of those sites it can eventually lead to monthly payouts and because most people are stuck indoors, you’ll find that right now is the best time to get involved in this business.
Content creation can also lead to passive income, which is one of the top ways anyone, including teenagers, can earn money. For instance, this blog is a form of passive income, and so is the Amazon Affiliate Program, as they do not require the user to be active 24/7 in order to generate income. If you plan on doing any of the other strategies stated before, passive income is something that I would recommend you do as well as this, not only increase your income, but it doesn’t require you to do much extra work.
Investing in stocks is one strategy that, not only is a good way to earn profit, but also teaches teenagers how the stock market works and can prepare them for making their own investments when they become adults. It’s important however that they do some sort of research about certain companies so that they make smart investments and a better chance of higher profits. Also rather than investing in penny stocks (because they may look cheap in absolute terms), look to get them into stocks and companies that will be around and keep growing 5 to 10 years from now so they have some decent savings and enjoy the benefits of compounding when they are adults. Think of stocks like Micorsoft (MSFT), Disney (DIS), Google (GOOG) and Amazon (AMZN). Teenagers are also likely to be on the forefront of new trends that could be led by companies that are small now but could eventually be great in the long term. Thing Facebook (FB), which a few years ago was only known to younger people but now is a major company .