Raising money smart kids – Part 3.

Should my teenager get a part time job?

The third and final part of the Raising Money Smart Kids series discusses whether teenagers should have a part time job.

Parents will naturally have different views.  Some argue that adding work to an already busy schedule will increase stress levels, detract from school work and reduce even further the opportunity for downtime.

There are many benefits, however, including:

  • developing the ability to listen and take direction from someone other than a parent/teacher;

  • learning to co-operate with people of all ages, rather than just their classmates;

  • to work as a team;

  • time management skills (expected when they commence full time work);

  • exposure to a wide group of people which expands their knowledge of human behaviour and how society works;

  • the social element.  Working with other teens from different schools/universities allows learning through conversations about subjects they study or courses they’re interested in.

The financial benefit of a part time job for teenagers is also important, especially as they look to purchase their first car or leave home to be closer to university.  As teenagers become young adults money management skills are essential to help avoid high levels of debt and/or bad credit ratings.  Learning to manage money at a young age through part time work is a great opportunity.  It’s also a large part of their financial education.

Click here to see parts 1 and 2 of the Raising Money Smart Kids series.

Stay connected.

Stay connected.