How To Make Money Online As A Teen

How to make a lot of money as a teen. I love this topic and I love financial literacy for kids. As you know, I wrote the book with Kyle, Make Your Kids Millionaires. It is still crushing it, personal finance book of the year, and we have checklists in here. So how do you make money as a teen? The book even goes into how do you do as a kid. Specifically for the teens today, I want to talk about three things. How do you transform your chores into entrepreneurial opportunities? That kind of marries up with the never pay your kids an allowance conversation and program that I've had for decades. Number two, how do you diversify those income streams so they have more than one source? And then number three, just the importance of financial literacy, business, money, knowledge, and just understanding this economy because we're in a very interesting economy. So if you are out there and you are a teen, get your parents to listen to this, get your younger siblings to listen to it, your cousins. It's critical. You've got to start learning about money because it is what makes the world go round and so does small business. So how do you transform chores into an entrepreneurial activity? Well, look at what you're doing. So little things for teenagers like babysitting, calling it a nanny, you're going to make extra money. How do you take chores just around your household and turn those into tasks and opportunities? So, you know, cleaning is a huge multi-billion dollar business. So, you know, whether you're helping clean, whether you are raking, whether you are doing, you know, as we're heading in, we're recording this at the end of 2023, whether you're doing Christmas lights, holiday decorations, holiday, you know, cooking and food prep. So whatever you're good at teens is how you want to make some money. It's just how do you make them from chores and getting paid an allowance to tasks and in Gravy Stack, which is a bank, and we're going to give you a link to that. So go get a Gravy Stack link. You're going to get a debit card attached to the very process that I teach in this conversation of how do you take gigs and missions and design a monthly income. So instead of having chores and allowance for doing whatever and whether they do it or not, you want to think more entrepreneurial. Not all tasks are created equally. Not all chores are created equally. So you really want to make a list of things that you want to do as a team. How much money do you want to make a month? Do you want to make a hundred a month, 200 a month, 500 a month? What do you want to make? A thousand a month? Thousand a month? Think about it. It's only $2.50 a week. Divide by five. It's $50 a day. So if you're super technical, you could easily do that online. Then you want to be in digital marketing. So what I want you to do is think about chores from an entrepreneur's perspective. What do they call it, right? So people have housekeepers, people have pool cleaners, spa cleaners, people have nannies, people have landscapers. So instead of just saying I'm going to do mow the grass and do a chore, you're now going to do landscaping. So I want you to start thinking more like an adult. Like what's the real business that you're going to be offering these tasks in? And then negotiate with your parents. So you negotiate for what the task is worth. And where I would go look is absolutely on the internet. I would go interview companies that what do they make? And just because you're younger, you don't charge a lot less. Now you charge some less, but not a lot less. So if you don't have all the equipment, then you've got to modify that. It's more your thinking and behavior. How much money do you want to make a month? And you start designing it. And as long as you do all the tasks in gravy stack, as long as you do all the gigs, you actually make the amount that you want to project for the month. So you start thinking instead of mom and dad being my bank account or my allowance, I'm going to start making my own money and command my own ability to do it because a job is not the only place. In fact, in my opinion, it's not the greatest place to make money. Being an entrepreneur is. Number two, how do you diversify those income streams? Which is what I love about the teenage and early 20 education and process. You're still discovering what you really want to do, what you're good at. I'd say mostly through your twenties, you're still discovering that. So do some diversity inside of your task list. So don't just do home tours around the family, go out into the neighborhood, go out into the community, go out to the internet. If you're good digitally, help some brick and mortar stores. I mean, how many restaurants in your town or coffee shops or hair salons don't know how to do any digital marketing or don't even have a good social posting. So help them do some videos for them. So do some layers of multiple streams to home income, neighborhood income, and then go wider into just the world. So you start really operating as an entrepreneur. You know, COVID changed a lot of how kids are going to school. I mean, homeschooling is at an all-time high and a lot of kids aren't going to college. They're becoming entrepreneurs. There are some things you have to go to college for. And there's some things as an entrepreneur, you don't really. So that's up to you, your parents on how you want to do that. I think college is just great transitional experience, social experiment, quite frankly. So multiple streams of income will get you more money. And what I really want you to have command of is if, you know, as you move into the summer months, or if you take a sport, you're going to have to back off of it. And then when you don't have a sport or you have more time, how do you lean into it more and make more money? So you go from three, 400 a month to 1,000 a month, 2,000 a month. Those are not uncommon numbers for you teenagers. Now, before I go to the last financial literacy conversation, I want you to subscribe to my channel. Click that notification button. I want you here all five days a week. And when that video comes in, I want you to watch it. I want you to grab our journal if you haven't got it and make sure that you're recording, you know, what's videos you're watching. So it's all lined out. You know, what's the day? What's the video? What are you learning? What are you going to do? So now you have an action plan for then what's coming next, which is financial literacy. Can you imagine having one of these journals from 13, 14, 15, 16, all your years, and just watching your entrepreneurial experience, watching your growth, watching how much money you made when you were 13 versus now 18 or 19, because now you're a legal adult. So financial literacy is critical, but you have to lean into it. It's not going to be taught in the school systems. I don't think they even teach you how to write a check anymore. And you say, well, is there such a thing? There actually is. Not just cash apps and pay. A lot of the digital banks that are out there, you still need to learn how to reconcile your accounts and double check their activity just because they're the bank doesn't mean they're accurate. Believe me, I've seen banks completely screw up bank accounts. So some specific things that you want to be thinking about when you think about financial literacy is not only your monthly goals, but just think about goals in general. So at the end of every year, I actually go through an activity with my kids where we reflect on what we do last year, what was successful, what do we want differently or more of. I do an activity called start, stop, and continue. What do you want to start doing as we move into the next year? Stop doing, and what do you want to continue doing? And then look at the next year and set goals through the entire year. And then as you go into these gigs and missions and tasks of how much money do you want to make per month, I mean, look at your school schedule. I mean, what are you doing for school? Do you have sports? Do you have other obligations that you currently have? If your parents are like, go get a job, go get a job, go get a job, I'm going to say, go be an entrepreneur. But you have to come to them then and again, get them in this channel. If you're all doing this together as a family, financial business literacy changes because you're not going to them and say, hey, I need 20 bucks or I need 50 bucks or I need a friend's birthday gift. You start paying for that stuff. And you say, but isn't that my parents' job? It's their job to give you a house and clothes and food and make sure you're safe and taken care of. It's your job to become a great entrepreneur and become a millionaire faster than most kids ever have an opportunity. Talk to you tomorrow.