5 Ways You Can Help Your Parents With Finance
Have you ever felt like there wasn’t possibly anything you could do to help your parents with finances? Like the only way you could help them was grow up? Well, I’m here to tell you that you can start helping your parents out from as young as six years old! And if you’re a teenager, then you can do so much more while staying a teenager.
1. Help with chores around the house
The first way is really simple but I promise you are helping your parents out immensely. Your parents are really busy people, they go to work, take care of kids, scavenge for food, pay taxes and all sorts of other things. As a parent, it’s hard to stay organized while juggling so many tasks, so taking up on some household chores yourself will save your parents a lot of time and effort. You could even assign your younger siblings simpler tasks, such as getting ready themselves in the morning or helping unload the dishwasher.
2. Cut back unneeded expenses
The second way to help your parents with finances is to be cautious of how much you are spending. As a teenager it’s common to want certain things that aren’t really essential, such as loads of clothes, new gadgets, tons of shoes. It’s important to be aware of how much you are spending and to understand that there is a limit to how much you can spend on luxury items. Cutting down unneeded expenses can save a lot of money without doing anything extra.
Now I am going to list some ways you can generate an income as a teenager.
3. Get a part time job
Getting a part time job is a go-to for teenagers to earn some extra money. It’s a convenient after school extra curricular that not only generates an income but looks amazing on college applications! You can get a part time job almost anywhere, whether it is your nearby Yogurt land, Chick-Fil-A, or you help your neighbor by walking their dogs. And to make this even better, if you get a job nearby you can walk there! So you get your daily dose of exercise and save money on gas. Getting a job does not have to be the conventional jobs that most teenagers do, such as working at a fast food place. But instead, you can also get a job by using one of your talents/areas of passion. For example, say you are interested in math, you could tutor elementary kids in math! This way you are earning money for something you are good at and passionate about.
4. Invest time in stocks
This method might require a little more research on your part but if done correctly you will reap the benefits. Stocks and crypto currency are the booming new platforms in our world today. As a teen, it is the perfect time to get started with stocks and learn more about the platform that is taking our world by storm. Stocks and crypto currency are the perfect way for you to invest some money and gain a lot more in return by doing absolutely nothing! The only thing you have to do is do research on the company you want to invest in and from there you just watch your profits go up. If you want some help on how to get started with stocks check out our blog post that gives you a step by step guide on how to get started with stocks and all the information you need to become a stocks enthusiast.
5. Tuition reimbursement
This last method is specifically for high schoolers, specifically those about to go to college. Tuition reimbursement is offered to students who have a part time job, through their employer. However, not all workplaces offer this benefit so it’s important to do your research if a specific company/store has this policy. This policy is where you pay your fees for college classes up front and once that semester or college class is over, the place you were working at will reimburse you. They can pay up to a small portion of your fees or they can pay the whole thing, it just depends on the specific company and their policies. Doing your research on which companies give tuition reimbursement is an effective way for you to save money in the future, while earning money on the side as a high schooler.
Some companies that offer tuition reimbursement include:
Starbucks
Home Depot
Chick-Fil-a
Chipotle
Target
Papa John’s
Gap
