How to Prepare Your Teen for Their First Job?

Before Your Teen Starts the Job Search Process:

Before your teen begins the job search process, you should do some preliminary preparations. Show them your family budget so they can see how much money is coming in and your expenses, then ask them some questions to understand their goals and set practical boundaries and work conditions.

What Can Teens Expect to Earn?

Before your teen starts their new job and begins to earn money, you should discuss with them the impact of this job on transportation costs, subscription fees, essentials, and taxes. The minimum wage varies by state, and earnings can differ significantly depending on experience, skills, job, and location.

How Can You Prepare Your Teen for the Costs Associated with Work?

Your teen may forget some of the costs associated with work due to the excitement of getting a new job. The most important of these costs are transportation fees, necessary supplies, meal costs, and the tax implications of working. You should help your teen manage their financial income by creating a personal budget and teaching them how to save and invest.

What to Do After Your Teen Has a Job and Salary?

When your teen gets a job and starts earning money, you should teach them how to manage their money wisely by creating a personal budget, saving a portion of their income, and investing in their future. Teach your teen about the stock market finance and responsible investing as a way to make their money work for them.

In Conclusion

Although teens may tell you they are ready to earn some cash, you are there to guide them and teach them how to find the best jobs and create a budget to manage their money. Talk to them about what they can expect from their position at work and how to ask for a raise. Assist them in transitioning to the workforce and show them how to be successful employees.

Source: https://www.thebalancemoney.com/prepare-teen-first-job-5202791