There are many ways for a teenager to earn money. While some of these occupations may not seem attractive and may not pay well but they offer you valuable skills. This article is split into two sections: how to earn money and how to save money. These two components are critical in terms of making and conserving cash.
As a teenager, you are subjected to a certain amount of pressure — school requirements, extracurricular activities, and other activities. The concern is how to make money during teenage. Here's how to earn money as a teenager. We've mentioned some methods to make money below.
How to Earn Money?
Video Stream
Many individuals earn a career playing video games and broadcasting their gameplay on the various networks such as Youtube and Twitch. Twitch broadcaster Jeremy 'DisguisedToast' Wang, for example, earns about $20,000 per month, depending on his popularity and the games he plays. However, keep in mind that not everyone makes that much money.
To begin, you'll need to be proficient at playing video games as people love watching competitive gameplays. You'll also need a camcorder and a system good enough to play intensive video games or a current-generation device such as the Xbox One. Next, you just create a YouTube or Twitch account and begin gaming. With the increase in reach, you will start earning money.
Create a Blog
To begin, you must understand that blogging is not a get-rich-quick technique. On the contrary, it takes time and dedication to earn an income from it.
Sometimes it took well over a year and over 100 well-researched posts for sites to even begin earning money. While there are exceptions, you should plan on writing at least once a week for at least a year before attempting to develop an audience and earn money.
To get started with blogging, you'll need a domain name and hosting - at the very least. You may find a domain name on sites and hosting on sites. Once your site is up, you may begin writing and establishing an audience.
The most popular methods to monetise a blog are via advertising and affiliate marketing - in which you link to another product and earn a fee if someone purchases it.
Additionally, you may earn money by selling memberships, producing your goods (such as a course), providing consultancy services, or having sponsored articles on your site (where an individual or organisation pays you to write on your blog - often to drive business to their firm).
In any case, it's a long road, but if you stick with it, you can earn some serious money with a blog.
Become a virtual assistant
As a teenager, working as a virtual assistant is a dependable method to make money. The job involves assisting someone with administrative duties while working remotely. Among such tasks are the following:
The best way to find a virtual assistant position is through freelancing sites such as Upwork and fiver. Many organisations want to outsource their work, and that’s why they post jobs on freelancer sites as a virtual assistant. The specific job description will vary between clients, but either way, being a virtual assistant provides a great way to start earning money fast.
Gaming Tournaments
If you're a competitive player, you can earn a good side income by competing in gaming tournaments. This will not be a full-time income for most individuals, but winning gaming competitions for games like Call of Duty or Fortnite may earn you some serious cash.
Bizzle, for example, earns over $300,000 competing in Fortnite gaming tournaments. Assume you're proficient at one or more of these competitive games. In such a scenario, you're likely to earn the most money competing. Simply keep in mind that you'll need to win regularly to make a lot.
Apart from the traditional methods, young adults aged 18 and above can legally participate in lotteries. Numerous Government-regulated lotteries are held across 13 states of India. Several well-known lotteries, such as the Lottery Sambad Dear Lottery is Nagaland State Government-owned lottery which benefits the people of the state as well as to finance the government. Dhankesari publishes the Nagaland Lotteries result three times a day.
How to save money?
Create and stick to a budget
One of the most effective methods to save money is to create and stick to a budget. Budgeting does not require you to give up enjoyment for the rest of your life. By establishing a budget, you can track your monthly spending and allocate cash to savings, bills, and leisure. To get started, go into MyMoney through online or mobile banking.
Don't put off saving and investing
Saving and investing may seem difficult at the moment, but even a few dollars each week may make a significant difference. Utilise your budget to determine how much money you can save each month in your savings account. And when it comes to saving, if your company provides a retirement plan, it is advised to determine how much of your income to contribute initially and gradually increase it over time.
Save one-third of your salary
If you're unsure how much to save, US News advises setting aside one-third of your salary if possible. By saving 100 rs of every 300 rs earned, you make it simpler to weather future financial problems, such as layoffs, vehicle repairs, house repairs, and other unexpected expenditures.
Create an emergency fund:
Another effective strategy for preparing for financial adversity is to establish an emergency fund. Investopedia advises investing in a high-interest savings account, certificate of deposit, or money market account.
Repay your debts
While saving money is a prudent approach to plan for the future, you should equally prioritise debt repayment. You should be proactive in paying off debt and watch out for credit card debt that spirals out of hand.
Disclaimer: This content is sponsored. No TNIE Group journalist is involved in its creation.
