Ways to help your teen earn money online
Quick insights
- There are many online opportunities for teens to earn money while building professional skills.
- Parental guidance is often required to set up online accounts and manage payments.
- Using a checking account and a savings account can help your teen distinguish between spending and long-term savings.
As a parent, you may notice your teen is eager to start earning their own money. Finding a traditional part-time job can be challenging depending on their schedule and local opportunities. While your teen might already spend plenty of time on their phone, they could potentially turn those scrolling hours into earning hours. Helping them explore how to make money online as a teenager may provide a flexible way for them to build a work ethic and start gaining financial independence.
How teenagers can start working online
Before your teen starts their digital career, it may be helpful to understand the general requirements for most platforms. Many websites require users to be at least 13 years old, and those under 18 often need parental consent. You might also want to look into how they'll receive payments, which typically involves a digital wallet or bank account.
If your teen doesn't have one already, opening a checking account and savings account can help them practice budgeting in a more realistic environment. Many banks offer accounts geared specifically toward young adults, or you can often visit a branch to open a joint account with your teenager. This setup helps them distinguish between money meant for daily spending and money for long-term savings, such as college or a first home.
Exploring freelance opportunities for teenagers
If your teen has a specific talent like graphic design, writing or video editing, freelancing may be a great fit. Freelancing is a way to work for different clients on a project basis rather than having a single employer. This allows them to choose projects that interest them and work around their school schedule.
- Skill-based platforms: There are various freelance marketplaces that may allow teens to offer services to a global audience. These platforms often require a parent to manage the account for users under 18.
- Portfolio building: Your teen can use these projects to create a professional portfolio.Â
- Setting rates: Helping your teen research what others charge for similar work can teach them about market value.
Tutoring and academic opportunities for students
If your teen excels in a particular subject, they might consider online tutoring. This can be a rewarding way to make money as a teenager while helping younger students succeed.
- Virtual platforms: Several websites connect teen tutors with elementary or middle school students needing homework help.
- Academic expertise: Helping others understand difficult concepts can reinforce your teen's own knowledge. This experience can also be a valuable addition to future college applications.
- Schedule flexibility: Online tutoring often allows your teen to set their own hours.
Selling items through online marketplaces
One of the most common ways to make money as a teenager without a job online is by selling items they no longer need. This could include old textbooks, clothing, electronics or even handmade crafts.Â
- Reselling websites: There are many online marketplaces that provide ways to list items for sale.Â
- Creative storefronts: If your teen is artistic, they might consider opening an online shop to sell their creations. This can turn a hobby into a small business and teach them about inventory management.
- Safety precautions: It can be helpful to remind your teen never to share personal information with buyers. You may want to handle all communication and shipping to help ensure their privacy.
Participating in online surveys and market research
For teens who want a more casual way to earn, participating in online surveys or testing websites might be an option. While these activities typically pay less than freelancing or selling items, they're often flexible and require very little experience.
- Survey sites: There are various companies that offer rewards for sharing opinions on products and services. These rewards can sometimes be redeemed for gift cards or cash.
- Website testing: Some platforms pay users to visit a website and provide feedback on how easy it is to navigate. This helps developers improve the user experience.
It may be helpful to explain that these tasks should be viewed as a way to earn extra pocket money rather than a steady income.
How teenagers can manage their earnings
As your teen starts to see money accumulate, they'll need a way to access it. Most online platforms pay out through digital transfers. A transfer is a way to move money from one account to another, such as from an online platform to a bank account.
Learning to make deposits, withdraw cash at an ATM and review account activity can help build a strong foundation for future financial responsibilities. Whether they use a teen-specific account or a joint account with you, managing their money offers valuable exposure to the banking system. It may also be helpful to discuss how they can use mobile apps to send or receive electronic payments, which can help them to pay back a friend for a movie ticket or their share of a meal.
- Budgeting habits: Consider encouraging your teen to set aside a portion of every payment for savings. This can help them build the habit of paying themselves first.
- Digital banking tools: Using a bank's mobile app can help your teen track their balance and see where their money is going. Many apps also offer alerts for suspicious activity.
- Interest-bearing accounts: In addition to savings accounts, you might consider explaining certificates of deposit (CDs) as a type of savings account. These might be useful if your teen has a large amount they want to save for a longer period.
The bottom line
Whether they're reselling clothes or designing logos, your teen is on their way to becoming a digital entrepreneur. By choosing the right platforms and setting clear boundaries, they can earn money while learning valuable lessons about business and finance. These early experiences often lay the foundation for a lifetime of healthy financial habits, and with your guidance, they can transform their online time into a meaningful head start.
