How Teenagers can Start Making and Saving Money

By Bless

The Banking sector has been around for centuries now same as the existence of trade. This sector experience its boom when trade by barter which was the exchange of goods between two parties, developed over the years to the use of legal tender (money). Banks and financial institutions could be found on every street of almost all towns, cities and countryside. The banking sector is a very important and strategic section of every economy and its activities are regulated by government agencies. They hold financial assets for their clients and intend invest these same assets as leverage to create more wealth. Banks make more wealth both for itself and for its clients. Also, they help their clients manage their fortune in a much efficient and effective way.

Most banks (if not all) don’t operate bank accounts for teens. By teens we mean persons between the ages of 10years to 20years. However, banks have a system in place wherein adults can create bank accounts for teens (probably their kids) with both parties (the adult and the teenager) being signatories to the said account until the teenager comes of the required age set by the bank to solely run and operate the affairs of the account. As you read through this you understand; the various ways to make money as a teen, ways to save money as teenagers, money saving tips for teens, how to earn money as a teenager and lastly, how to obtain and manage a bank account for teens.

Legit Revenue Generating activities for Teens

Under normal circumstances, teenagers ought to be in school concentrating on their education. However with the high kilojoules of energy some of them possess and the need for extra cash, they can be guided to invest that energy into something lucrative and income generating. There exist various ways to make money as a teen both legitimate and illegitimate but we’ll concentrate on the legit ways of how to earn money as a teenager.

The job market is a tough place for a teenager still, many teenagers have still found ways to make money. Aside from marketing and publicizing your skills in order to be hired, you can equally engage fully in entrepreneurship. This can work well for those who are naturally blessed with some talents and/or hobbies thus turning this skills to make some extra cash won’t be a bad idea plus it will equally be stress free.

How to earn money as a teenager

  • Doing odd jobs
  1. Babysit for friends and family: Babysitting is one of the best ways to make money as a teen though very appropriate for teens of 18 years and above. It is also a sure, ever ready and available job as busy baby mamas will never cease to exist. It’s equally best suited for teens because of the less stress nature of the job, plus it prepares the teenager for parenthood. Ask around your neighborhood, family friends, in churches, amongst your school mates if they need any help with childcare or they know anyone who does and start developing a client base.
  • Prior basic first aid classes obtained from local Red Cross, hospitals or community centers would go a long way to boss up your morals and also the confidence of your prospective clients. Most of these courses are always free or at discounted rates.
  • Without the above little experience, you can ask for a probation period of say 2weeks wherein you will be supervised by one of the parents.
  • Some teens can consider baby sitting as holiday jobs.
  • Doing yard work:Try to be observant in order to locate and pick out the busiest persons in your neighborhood and/or church who due to their hectic and tight schedule, normally don’t have time to clean their surroundings and approach them with the deal of cleaning. Mowing their lawns, raking their leaves and trimming their flower gardens is how to earn money as a teenager. You can equally post some signs around the neighborhood offering your services.
  • If the work load is so heavy, teenagers can team up, get the job done faster and more efficient then share the proceeds.
  • Doing household cleaning chores: Taking up cleaning chores for someone in your neighborhood is amongst the list of easiest ways to make money as a teen. I say so because, normally teens would have to carry out household cleaning chores in their various homes thus experience is not an issue to debate on cos they would obviously possess plenty of it. However some clients would still argue that teenagers won’t be as perfect as professional cleaners, thus teens can negotiate and drop their payment fee less than what professionals would normally ask to be paid.
  • Run errands for elderly person: Helping out senior citizens (retired states men and women) with mobility or dexterity issues in running errands is one of the ways to make money as a teen. Do a research in your neighborhood carrying out a census on all the senior citizens who might be need of help. Help them out in doing shopping, watering plants and taking care of any other errands but make sure that your arrangement is up-front on both sides: the last thing you want is to do work thinking you’ll be paid while the other person considers your efforts a favor done out of kindness.
  • Let your grandparents, uncles and aunts know that you are in need of some extra cash so you won’t mind running errands for them and their friends. So plead with them to discuss about your service amongst their friends. This is how you can earn money as a teenager with very little stress plus much publicity.


  1. Tutor your schoolmates:Tutoring academically weak classmates at home or at the library after school is one of the ways to make money as a teen. One mustn’t be so smart, best all round or possess a high IQ to tutor his mates.You may have peculiar subjects which you excel at so figure out these subjects or topics, do more research on it, gather past questions on it and answer them in order to build that self-confidence. Then locate and discuss with the weaker students on a possibility tutoring them when they are free and for a start, charge them either nothing or very little. Make your classes livelier, funkier and less formal as possible to pull more clients. A weaker student can also make money from tutoring by organizing his fellow weaker pals and striking a deal with the smartest kid to come tutor them. Not only will he benefit from the lessons but also, he plays the role of a marketing manager with pay package of course.  
  • Several platforms exist online linking tutors to those in need. Locate these services and sign up for an account if you can.
  • It mustn’t be academics. You can also give out lessons in sport, musical instrument for extra cash.
  • Advertise your services: Publicity and creating awareness on the goods and services you offer is the key on how to earn money as a teenager. Make proper use of your social media pages, fliers, notice boards and equally verbal publication does the magic in pulling a huge clientele. 
  • When you’ve got a huge customer base, create a separate social media account or simple blog for your business in order to keep your clients closer.
  • Finding work Online:

 Sell stock photos:Snapping, capturing moments and selling online to interested organizations is how to earn money as a teenager. Just a smart phone with great pixel quality or a decent camera will earn you some extra cash. Firstly, do a research on the business as a whole, know who are your potential clients and the kind of pictures they might be interested in. This information will go a long way to help you know what to snap.  This is one of the easiest ways of making money as a teen because it is first of all a relaxing hobby. It’s more of turning your hubby into a job

  • Plenty photo agencies exist online who purchase stock photos so do not be disappointed if your images get rejected by one agency. Instead ask them why it was rejected, correct it next time and move on. Some examples are Shutterstock and iStock.

Check out mobile apps that pay you for running errands:We can use our smartphone as an income generating asset. All we need is to visit/browse play store and download mobile apps that are linked with local businesses. Some of these business usually offer simple task for paid compensations.

  • Plenty of such apps exist on google play store on android and app store on apple. So browse through and discover them. Examples of such apps include: GigWalk, and CheckPoints. Make sure to verify if it can be downloaded and used by teens so as not to get into problems or end up working without pay.

 Doing online surveys: Running marketing campaigns, surveys and/or research for some companies is one of the very lucrative and easy ways of making money as a teen. However, not all companies, do accept to work with teens but others do so make sure you find out first if you are eligible. The outputs of this survey are always very important in the planning and production forecast of the company so some of them pay well for the services rendered

Start a Youtube channel:  Despite the numerous competing youtube channels that exist, posting videos on youtube still remains one of the many ways to make money as a teen. Start by deciding the content of the videos you would want to be uploading (comedy, news and/or entertainment). Depending on the contents of your videos, google will place ads prior to your video and you will be paid if persons get to watch these adverts. So your job will be to pull more traffic to your channel in order to get more views, thus more extra cash. This is how to earn money as a teenager simply with a basic webcam, home lighting and internet access for a start. As you strive in the business, you can make it more professional.

  • Buying and retailing items, craft and household items:

Organise and Sell off junk stuffs: Most of our homes are always littered with plenty unused, old junk stuffs taking up space everywhere around the house. This can be a great source of income for teens. All you need do is ask for permission from your parents to clear the entire compound off old junk stuffs and I’m so positive that most parents will accept. Pick out the important ones whose value can be turn into cash and locate persons in your locality who might be in need of it. Do not discourage and scare them with a high price but rather allow them to propose what they can offer. You will be surprised that they may end up proposing above your threshold estimated value.

Purchase Snacks and retail in School during break:If it is allowed in your institution, purchase snacks such as bread, juice, hamburger, chocolates, biscuits and sell to your mates during break. You can either get the capital for this business from your personal savings or you can also discuss the idea with your parents and plead for a loan from them. If you have the strength, you can equally hawk around your neighborhood and markets after school with your merchandise after school if you can or if you got left over from school.

  • Make sure you keep your goods neat and maintain high sanitary rules and regulations.
  • Also take note of your favorite customers and make sure you give them preferential treatments and discounts. They will act more like your marketing managers before you know it.

Make crafts sells: If you enjoy the work of arts and you are good at it, try turning that hobby into money making machine. You can focus more on making and selling friendship bracelets, portraits for your school mates, and members of staff and also family members. You may equally sell online too via online shops.

  • You may begin with doing all these work of arts for free in order to create awareness about your brand. Then eventually you should start charging them when you are done with publicity.
  • Taking a service job:

Support staff in restaurant kitchens:Assisting and running errands in a restaurant milieu is one of the ways to make money as a teen. This is the perfect job for female teens or persons who have cooking as a hobby because not only will this job earn you extra cash, but it will equally build your cooking and business skills. However, working in the kitchen can be risky (getting burns), thus proper safety regulations are necessary. 

  • Ask for opportunities at recreational facilities: Most sporting activities such as soccer, long tennis always require the services of teenagers to help out speed the game by replacing the balls immediately they go out of the play pitch. Also movie theaters, amusement parks, swimming pools are areas to check on. This is how to earn money as a teenager easily because no experience is needed.
  • Take up middle men skills: Act as a liaison between you and your fellow school mates, friends and most local vendors. Say always run photocopies for your mates when need arises of course for a commission, get flash disk for those in need of it and so on. Always be smart and seize any opportunity that presents itself to make some extra cash out of it.

Now that we’ve exhausted the various ways to earn money as a teen, let’s try to look at the available options and ways to save money and money saving tips. Whether we are hustling this extra cash for an adventure, a touristic trip, get a new cloth or shoe, practicing some money saving tips will not only help you attain our goal, but it will equally give you a whole lot of experience to live a life time.

Money Saving Tips

  • Save the money with your parents: Amongst the numerous ways to save money that exists out there, saving your revenue and fortune with your parents or guardians is option number one for teenagers. This is considered the best because, firstly most of our parents are trust worthy. Secondly, without your extra hustle to get extra cash and finance some of your personal stuffs, it will still bounce back to them. Thus, they would have no other option than to save guard your fortune as if it was theirs and make it available when needed.
  • Keep your income yourself: You may equally safe guard your revenue from your hustle yourself. This is not a recommended money saving tip for teenagers though due to mismanagement. It will take a teen with a very strong will power to save guard their revenue properly because this is difficult even for some adults. However the ease of access to the cash is equally a plus as it can easily be reinvested.
  • Re-Investing: This is a great indirect money saving tip that works both for teenagers and adults. Keeping wealth in assets and not in fiscal cash is very effective because one doesn’t gets tempted to misuse the cash. I have personally tried it and it works so well for me so I will encourage most teenagers to do same because so far, it is one of the best ways to save money.
  • Set weekly saving minimal limits and be discipline about it: After securing an income generating activity, take a month and realize your monthly revenue. Do the mathematics and subtract your expenses such as transportation and snacks from it if you must, then divide the balance by 4. This will give you your minimum weekly target. Sticking to this limit will be responsible enough and help you achieve set goals.
  • Cultivate the habit of spending less and saving more: For you to achieve your goals, there are two things involved. It is either you hustle more (get two to three jobs) or you spend less or better still do both. Remember in the very previous point I did make mention of expenses if you must. You won’t spend all your days hustle on an expensive lunch but rather you can make your own lunch at home and take to work. This money saving tip is so awesome and works totally perfect if your discipline and responsible.
  • Keep record of your spending’s: We can call this record a spending diary. Input virtually all of your transactions in this diary. A review of this diary over time will tell you if you are spending on more wants or on needs. Whatever maybe your output, you will know best which decision to take. Also, this diary can help you in forecasting, thus prior planning and better ways to save money.
  • Keep separate accounts for transactions (spending’s) and savings: This is one of the most important money saving tips because it helps you distinguish your capital from your profits. Always make sure you use only the profits for expenses and touch not the capital. This way, you will stay in business and attain your goals. We’ll eventually talk more on bank accounts for teens later in details.
  • Save before you spend: Cultivate the habit of saving whatever income you make before spending. This is one of best ways to save money because it gives more priorities to savings that to expenses meaning, if there should be a shortage, it should better affect the transactions account and not the savings account.
  • Bank account for teens:

Like I did mention in my second introductory paragraph, most banks and financial institutions do not operate bank account for teens. This is so common in developing countries. What may exist in some rare situations are scenarios wherein, parents do create accounts for their teenage kids and save periodically in those accounts to finance projects for them such as college/university tuition fee when they come of age, and so on. The kids may not even be aware of such an account in their names since they have little or no control over it. However, parents may decide to relinquish powers to their kids to have sole control of this account when they come of age. 

This is not the case on the other side of the globe (which is the developing world), some banks do offer bank account for teens though with some restrictions. Some of these restrictions include; No overdraft facilities, little or no interest per savings since teenagers save relatively small and so on. Herein teenagers have sole control of their account activities. However, we’ll still have scenarios where even though teenagers have some control over their accounts such as withdrawals and deposit, but their account’s transactions are still monitored by their parents to check what they are spending on. This option is good in order to guide and advice your kid but allowing them learn the hard way is best. When they spend recklessly and go broke, next time they will be responsible enough and spend wisely.

Hustling for extra cash and saving properly prepares teenagers for the future, this it’s worth trying. Remember, what doesn’t kill only makes one stronger.

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