Teens And Part-Time Jobs
Should you encourage your teens to hold part-time jobs?
Encouraging your children to hold part-time jobs can be both helpful and hurtful to them. Every child goes through a stage when he or she reaches 15, 16, or 17-years old when he or she wants to get a job. They rarely ask to work at an accounting firm or a computer programming company. They want to work in fast food, retail, or another sector of the service industry. It's only natural. They see all their friends making sandwiches and delivering pizzas, and they see it as a way to make extra cash, get out of the house, interact with others their age, and feel grown up because they have a job.
As parents, your considerations should be how much money they'll make, what they'll learn from the experience, and the real-life situations they'll be entering. You can use their desire to enter the work force as an opportunity to further their monetary and budgeting education. They'll have more income than they ever have had before, you can give them less money when they go out with friends. In fact, they can now pay for many of their field trips and Saturday outings with friends. You may want to help them come up with a budget and encourage them to open a savings and checking accounts if they don't have those already.
You also need to be cautious and help your children understand that despite how they have this new-found income and excitement that their homework and studies are the top priority. You still have to make sure they're doing their homework in a timely and daily fashion. A good rule of thumb is to require that your children work less than 20 hours a week at their job. Any more than this and it starts interfering with their schoolwork, typically. That set number of hours each week helps them earn plenty of extra income.
The final main consideration you need to look at when deciding whether to allow your children to hold part-time jobs is you'll have to help your children understand that while they are making a considerably larger amount of money than they were previously, the amount they're bringing in still is not enough to support themselves on. You'll need to instill in them the idea that in order to achieve financial freedom and support themselves–and a family when they eventually have one–they'll need to work hard, study hard, and earn significantly more money.