Is your child ready to earn money this summer?
What’s on your child’s schedule for the summer? If the answer is “not much,” he or she may be ready for a part-time job.
“I’m a big believer in kids having a job if they’re not over-subscribed in school or extracurricular activities,” says Ellen Pober Rittberg, a parenting expert and author of 35 Things Your Teen Won’t Tell You, So I Will.
Deciding whether your child is old enough for a job is up to you, although state laws will dictate age requirements. Rittberg says working a few hours a week seems reasonable for a 14-year-old.
She urges parents to make sure the work environment is safe. Start with businesses you frequent that seem well run. If your child performs well academically, consider tutoring through the school or an academic organization. If your child is interested in doing odd jobs, such as mowing the lawn, Rittberg suggests he or she enlist a friend for safety.
How much your child is paid depends on your state’s minimum wage or the going rate in your community for neighborhood jobs.
If your child isn’t quite ready for the real working world, consider establishing meaningful chores that help your child earn an allowance. Make sure it’s more than simply taking out the garbage, Rittberg says. Even young children can take on tasks such as setting or clearing the table, emptying the dishwasher, making their bed or putting away their laundry.
What to pay your kids is an individual decision, based on your family budget and the number of chores they do. Regardless of the amount, Rittberg says teaching your children to be accountable for how they spend their allowance will help them develop budgeting skills they need later in life.
Pocket Money Check out the Nationwide Bank® Buxx Card. It works like a debit card, so you can add funds, set spending limits and monitor where and when your child uses the card.