TEENAGE MULTIPLE SOURCE OF INCOME PART 2

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Introduction

Welcome back, we hope you and your teenagers have started taking steps towards making money through the online multiple sources of income we mentioned in our last post.

We have brought to you other multiple sources of income that would make you financially independent. They are as follows 

1.Stock Photographers 

Instead of hiring a photographer to shoot unique photographs for them, many businesses prefer to purchase stock photography. Thus, if you like taking pictures but don't want to do it for paying customers, you can sell your work on online photo markets.

You are welcome to take pictures of anything you like, including people, nature, architecture, and more. You can sell your photographs on a variety of websites, including (but not restricted to) Shutterstock, Stocksy, and Adobe Stock.

2. Sell Things on eBay and Make Money

It can be entertaining to earn money as a teenager by "flipping" something, which refers to purchasing something for a low price and selling it for a higher one. Additionally, you can conduct this online using auction websites like eBay.

If you and your family no longer want certain goods, start there. You may also ask close family friends if they have any items they were going to donate shortly. If you ultimately decide that this type of work suits you, you may expand by obtaining supplies from garage sales or thrift shops.

If you are educated in the type of item you're selling, such as sports collectibles or Pokémon cards, this method of earning money is very well suited for you.

3. Create a Young Investors Account.

Everyone enjoys spending money, but if you start saving and investing while you're still a teen, you can eventually turn that money into much greater sums. It takes longer to earn money than n the jobs mentioned above, though. Yet, it's still beneficial to invest a portion of your income so that you can eventually make even more money.

You can register for a Fidelity® Youth Account online, which is a great location for your adolescent to earn money through investing.

Fidelity® Youth Account (parents receive a $100 incentive and kids receive a $50 bonus)

accessible: register here

Price: No account minimum, no trading commissions, and no account costs

Promotion: Parents receive $100 when they fund a new account; teens receive $50 on Fidelity® when they open one.

Are you interested in helping your teen get a head start on their finances? Do you want them to develop wise financial practices along the way?

You do, of course! When you get off to the correct start, learning about investing, spending, and saving early can pay off greatly. The Fidelity® Youth Account, a brokerage account controlled by teenagers aged 13 to 17, is one tool that can assist your teen in making that transition. It is intended to help them begin their investing adventure. The majority of American equities, exchange-traded funds (ETFs), and Fidelity mutual funds may all be traded through an individual's brokerage account to get started in the world of investing.

Also, your kid will receive a free debit card that has no monthly fees, account fees, minimum balance requirements, or domestic ATM fees. And they may manage their money and utilize it anytime they need to by using this free teen debit card.

And what about forming wise financial practices? Fidelity's Dedicated Youth Learning Center is open to you and your teen and is filled with resources created especially to assist teens in developing sound financial habits.

Controls that Parents Need and Desire

To open a Fidelity® Child Account, a parent or guardian must already have or open a brokerage account with the company. There are no minimums or account fees for new Fidelity® members, and opening an account is simple.

To keep an eye on their teen's activity, parents and guardians have a variety of methods at their disposal: Users can monitor debit card transactions done in the account and follow monthly bills and trade confirmations online.

You may set up notifications to keep you informed of trades, transactions, and cash management activity, making it even simpler for you to keep track of the actions your adolescent makes using the Fidelity® Youth Account's range of products.

4. Maintaining a bank account for savings

While some of the money that teenagers make should be invested, the majority of it should be deposited in a typical bank account. Bank accounts are the foundation of effective money management because they make it simple to save and spend money.

A Chase First BankingSM account is a great choice if you'd rather just save some money and spend some of it.

Don't forget to visit our main school website on : www.jacobsschools.com.ng for appetizing information, pictures, and the likes about Jacob's Schools.

Don't limit yourself to these tips alone. Visit our school blog to read more about other related posts at www.jacobsschlsblog.com.ng

 

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