Home > Teens > Teen Values and Responsibilities > Jobs and Chores > The Job Market for Young Adults: Working for Fun and Profit

The Job Market for Young Adults: Working for Fun and Profit

Piggybank on It

Earning a paycheck is the quickest way to teach a child the value of a dollar. When she has to work for it, she's less apt to take the money for granted. A $15 CD has more meaning when a child realizes that she has had to work three hours to pay for it.

One of the biggest benefits your child can have from working is the chance to earn his own money. This money can be used to gain a measure of independence for your child: He can support an active social life, buy a car, or go to college.

Working may become necessary as your child gets older and his tastes become more expensive or you decide that you are no longer going to pay for certain things. If your child wants these items, he'll have to earn his own money.

Working can be the start of a meaningful financial education. It can give your child enough money to allow him to start a checking account and a savings program. It can also give your child a true understanding of what jobs really pay—something that the majority of kids seem to lack. According to a survey on teens and money by Weekend USA, 42 percent of teenagers expect to earn $75,000 a year by the time they're 30. The average 30-year-old today earns about $27,000.

For general information about the federal minimum wage and labor laws, go to the Department of Labor's Web site at www.dol.gov. You can also call DOL's Teen Safety Hotline at 800-959-3652.

More on: Money and Kids


Excerpted from The Complete Idiot's Guide to Money-Smart Kids © 1999 by Barbara Weltman. All rights reserved including the right of reproduction in whole or in part in any form. Used by arrangement with Alpha Books, a member of Penguin Group (USA) Inc.

To order this book visit Amazon's web site or call 1-800-253-6476.

stay connected

Sign up for our free email newsletters and receive the latest advice and information on all things parenting.

Enter your email address to sign up or manage your account.

Facebook icon Twitter icon Follow Us on Pinterest

editor’s picks

get ready for school!

We’ve got your
shopping list,
lunch menu,
and more.



Join BIC on our mission to save handwriting and Fight For Your Write! Writing helps kids become better readers, boosts their confidence and sparks their creativity. Visit BICFightForYourWrite.com to sign our petition to save handwriting!

7 Fun Driveway and Sidewalk Games for Kids
Looking for classic outdoor games kids can play in the driveway or on the sidewalk, just like the good ol' days? From hopscotch to bubble-blowing contests, there's something for all ages!

Kindergarten Readiness App Wins Gold
Our Kindergarten Readiness app won the Gold Award of Excellence in the educational category at the 2014 Communicator Awards. This valuable checklist comes with games and activities to help your child practice the essential skills she needs for kindergarten. Download the Kindergarten Readiness app today!

Best Sun Safety Practices for Babies
Follow these sun safety practices for babies to ensure your little one stays safe on the beach and on sunny days all year long.