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| Money Matters Personal finance, managing debt, saving and investing |
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07-11-2007, 03:35 PM
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#1
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Summer Jobs
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Mommysavers Goddess & Approved Trader
Last Online: 06-19-2008 03:24 PM
Join Date: May 2007
Location: Burlingame, Ca.
Posts: 1,287
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Those of you with teenagers, do you make them get jobs for summer? Do they have to save some of their money? How do you go about teaching them about work and money?
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07-11-2007, 05:00 PM
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#2
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Mommysavers Addict
Last Online: Today 01:31 PM
Join Date: Jul 2006
Location: Central Indiana
Posts: 10,753
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Well my dd got a part time job last summer when she turned 16 and has the same one this summer. It's as an administrative intern for an architectural firm that my dh does a lot of work with. They pretty much let her work when and how long she wants since she just does all their "yuck" and mindless stuff. But since they're so flexible and since it's with all responsible adults (one of the main guys is running as the Democrat for governor of our state) and they pay her $10 per hour, we think it's perfect. Luckily, my dd is very responsible and frugal (like her mommy) so she saved a lot without us having to nag her. Last summer at the end of the summer she bought a $1300 CD that will mature next fall when she is ready to enter college and she also put about $350 into a debit acct that she uses for her spending money. She didn't spend the whole $350 from last yr, so we're just going to add a little more, then she'll probably buy another CD of $1000-$1200 or so at the end of this summer. HTH
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07-11-2007, 05:09 PM
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#3
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Lady Chats A LOT
Last Online: Today 02:44 PM
Join Date: Jul 2006
Location: Ohio near the Great Lake
Posts: 10,152
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Quote:
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Originally Posted by aliadam
Well my dd got a part time job last summer when she turned 16 and has the same one this summer. It's as an administrative intern for an architectural firm that my dh does a lot of work with. They pretty much let her work when and how long she wants since she just does all their "yuck" and mindless stuff. But since they're so flexible and since it's with all responsible adults (one of the main guys is running as the Democrat for governor of our state) and they pay her $10 per hour, we think it's perfect. Luckily, my dd is very responsible and frugal (like her mommy) so she saved a lot without us having to nag her. Last summer at the end of the summer she bought a $1300 CD that will mature next fall when she is ready to enter college and she also put about $350 into a debit acct that she uses for her spending money. She didn't spend the whole $350 from last yr, so we're just going to add a little more, then she'll probably buy another CD of $1000-$1200 or so at the end of this summer. HTH
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IMPRESSIVE 
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07-11-2007, 05:20 PM
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#4
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Mommysavers Goddess
Last Online: 07-18-2008 10:50 PM
Join Date: Mar 2007
Location: Arkansas
Posts: 1,733
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I don't have teenagers yet but I worked during the summer as soon as I got my car. I worked fast food for just a little bit but then I worked at my mom's office during the school year & summer during highschool & college, just doing office stuff & receptionist.
__________________
Mommy to Ariana 8/11/01 & Davis 4/11/05
I love my kiddos!

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07-11-2007, 05:57 PM
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#5
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Mommysaver
Join Date: Jul 2006
Posts: 7,061
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I don't have teens but I worked every summer when I was a teen...one year I worked in an ice cream shop but I found out quickly I could make a lot more money babysitting, housesitting, housecleaning and ironing. I could use my money for whatever I wanted, nonessential clothing, records (oy...I'm dating myself!), going out with my friends/dates etc
My parents taught us a lot about money...about saving, investing etc I didn't start investing with ernest until I was in college but I knew about it way before then because my parents did it. I think it's so important to not only teach your kids about making money, saving etc but to make good investments, to save for a rainy day etc
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07-11-2007, 06:06 PM
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#6
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Mommysavers Goddess
Last Online: Yesterday 08:46 PM
Join Date: Jul 2006
Location: United States
Posts: 2,175
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I don't have teens yet, but dh and I were talking the other day and all three girls will get jobs during the summer AND during the school year. Even if its only a few hours a week. I think it is REALLY important that not everything be 'handed' to a kid. We see some siblings and friends who were raised that way and now have no work ethic and think everything in the world is owed to them. JMO, and what we have seen.
From the time dh and I were both 15 years old we both worked. From 16 on I worked 40 hours in the Summer time. It was McDonalds at 6.00 and hour, but I felt rich 
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07-11-2007, 06:38 PM
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#7
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Mommysavers Addict
Last Online: Today 01:31 PM
Join Date: Jul 2006
Location: Central Indiana
Posts: 10,753
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Just another suggestion. We didn't tell my dd what percentage to save since she's so responsible, but my dh had a friend with 4 boys, so the parents told them that they could keep and spend how they liked 50% of the money they earned but they had to also save 50% for college. I think that sounds pretty fair. If they had to save more than 50% the kid might decide it's just not worth it to work since they're not seeing any of the money.
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07-11-2007, 07:03 PM
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#8
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Mommysavers Goddess & Approved Trader
Last Online: 06-19-2008 03:24 PM
Join Date: May 2007
Location: Burlingame, Ca.
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wow Aliadam, your daughter is super responsible! You did a great job! I'm so impressed.
This topic came up on a radio show I was listening to. They were referencing a study that recently came out about how fewer kids get summer jobs, or any jobs now than they did in the 60s or 70s.
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07-11-2007, 11:08 PM
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#9
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Mommysavers Addict
Last Online: Today 01:31 PM
Join Date: Jul 2006
Location: Central Indiana
Posts: 10,753
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Quote:
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Originally Posted by Lucky Mom
wow Aliadam, your daughter is super responsible! You did a great job! I'm so impressed.
This topic came up on a radio show I was listening to. They were referencing a study that recently came out about how fewer kids get summer jobs, or any jobs now than they did in the 60s or 70s.
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Thanks...I'm very proud of her (pretty soon you'll get tired of me bragging on her  ). But funny you mentioned that about that study. My dd mentioned that to me too. I wondered if she was hinting about not having to work. Although we've never told her she HAS to work, she just likes earning her own money. She's also very generous with it. We'll be out somewhere and she'll offer to pay for lunch, or gas, or whatever with her debit card, but I usually turn her down. (ooops....see there I go bragging again  )
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07-12-2007, 08:36 AM
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#10
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Mommysavers Diva + Approved Trader
Last Online: Today 03:34 PM
Join Date: Jul 2006
Location: VA
Posts: 746
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I had a summer job at a theme park and it was not only a monetarily rewarding experience, but it also helped my future. I started by selling tickets and worked my way up the ranks in 5 years (I worked here from 16 until I graduated college) and had 4 promotions, before I moved into Information Systems, which is my career area today. Not only did the money I saved help me get my first house, put a new roof on it, and buy us a cheap backup car (my parents paid for college and the wedding), but it helped me land my first fulltime job. The recruiter told me that the promotions I recieved at the theme park helped them pick me since it shows I am driven and am continuously improving.
So, encourage them to go get a job now, it will help them immensily in the future! I am so glad I did. I see high school friends struggling to move out of the house and find their first job, 1 year after they graduate college.
__________________
Mom to Kaylee (10/2006)
Waiting on our second bundle of joy to arrive January 2009!
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