By Mzukona Mantshontsho
Not earning an allowance doesn’t stop you from having a financially secure future. Not all parents or guardians can afford to give their children an allowance or pocket money, so why not as a teen do jobs around the neighbourhood that could create an income.
Types of Jobs you could do:
Think about doing the basics that others might be too busy to do. You could babysit; walk dogs, or do some gardening work like mow lawns for your neighbours.
You can make a lot of money! If you can, do some more jobs around your own home and negotiate fees with your parents. These could include daily chores like sweeping or cleaning the house, or special jobs like spring cleaning an entire room in the house. If you have a talent, why not turn that into a money-making exercise.
Maybe you’re good at typing. Perhaps you could charge people for typing work like compiling CV’s or typing assignments. Perhaps you’re good at making crafts such as jewellery that you could sell at a craft market.
Your finances as a Teen
South Africa continues to rate poorly in terms of savings among adults and youth.
The financial literacy baseline study, which was undertaken by the Financial Services Board (FSB), revealed several statistics about young people aged 16 to 19. The study found that the majority of young people would prefer to spend money than save it; that the majority of young people never enjoy dealing with financial matters and that young people are least likely to stay within their budgets.
Your parents play a critical role in teaching you savings behaviour and if your parents are like most others, they put away some money for you and are responsible in doing so.
When parents do not teach teens to save they inadvertently do not foster the right savings habits. Your parents want to do everything for you, and by seizing the opportunity to foster financial literacy through education from a young age, they’re setting you up for a financially secure future.
