Apart-time job helps cover costs and provides valuable financial lessons
The teenage years are full of mile-stones that come with a hefty price tag. From managing their mobile phone plan to driving lessons to outfits for school formals to schoolies to university fees, there are plenty of big expenses on the teenage radar.
Of course, one way to help fund their increasingly busy social life is to encourage them to get a part-time job and save. Two in five Australian parents say their 14- to 18-year-old kids have a paid job outside the home and nearly half of them started working before they turned 16, according to a survey carried out for the Financial Planning Association (FPA).
I do recommend a part-time job for teenagers. Often getting a foot in the door for part-time work is harder than it sounds. Employers typically don’t employ young people without experience. There are some exceptions, such as McDonald's, which takes on young people from 14 to 16 with the consent of their parents or guardians.
Denne historien er fra October 2018-utgaven av Money Magazine Australia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 2018-utgaven av Money Magazine Australia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
An outrageous, beautiful monopoly
Telstra's mobile business is a cash machine with few competitors, giving it the highest returns in the world.
Drop the anchor to judge value
Buying and selling decisions should be based on where a stock price is going, not where it has been.
Powering the AI boom
Beyond the software and chipmakers, where will the energy come from?
Get into life
Tucked inside super are products that can protect you from life's inevitable uncertainties.
Paths to home ownership
Taking the road less travelled can sometimes deliver unexpected benefits.
Sold! Quick ways to add value
Small, strategic changes can have a big impact on the look and feel of your home. And get you a better price on auction day.
Money lessons the kids need to know
Your children can learn a lot from your past money mishaps. Here are eight financial conversations I have had with mine.
Property-investing rules: are they likely to change?
The pressure for the government to curb the tax benefits of tax concessions, such as negative gearing and the capital gains tax discount, is unrelenting. Most recently, independent senators David Pocock and Jacqui Lambie proposed five options for paring back investment property tax concessions, with savings to the Federal budget of up to $60 billion over the next decade.
What's love got to do with it?
A rollercoaster of emotions could be driving poor crypto behaviour.
Are we ready to be cash-free?
Saying goodbye to our piggy banks too soon could leave small businesses in the dark when problems arise.
