HOW TO MAKE MONEY AS A KID IN UNSETTLING TIMES
Are you wondering how to make money as a kid in 2020? A lemonade stand might no longer be a viable way for Kids to earn money. The recent worldwide COVID pandemic has turned the employment world upside down.
In recent weeks 26.5 million workers have filed jobless claims. In comparison, the highest levels of unemployment following the 2008 financial crisis, there were 15.3 million unemployed Americans.
In the coming months, many people will be trying to figure out how to begin earning money again. It’s unknown how businesses like restaurants, fast food, movie theaters, and shopping malls will be impacted going forward due to the response to COVID.
Given the number of unemployed workers and the unknown nature of the number of jobs in the future, we made be faced with many workers who are underemployment. The adults in the workforce may now peruse Jobs that teenagers typically fill.
So how are you going to make money? We asked several professionals for their advice on how to make money as a kid. You’re going to have to think outside the box and get creative, that’s how.
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ANDREW @ WEALTHY NICKEL SUGGESTS BECOMING A SOCIAL MEDIA MANAGER
With everything going on in the world and the extra time on our hands, everyone seems to be glued to social media. Your kids probably know their way around Facebook, Twitter, land Instagram better than you do.
One way to cash in on that knowledge is to help small businesses run their social media profiles. There’s a lot you can do as a social media manager, and most teenagers take for granted how much they know about what does and doesn’t work on social media.
Some ideas of services to offer as a budding social media entrepreneur include:
- Scheduling regular social media posts to highlight the business’ services
- Building followers by engaging with others on social media
- Running Facebook ads for clients
- Writing blog content and promoting it on social media
If your kid has an entrepreneurial drive, becoming a social media manager can be one of the best ways to make extra money during this difficult time. And it’s a great way to serve your local community and local business owners who don’t have your kid’s social media savvy!
SAM @ HOW TO FIRE SAYS SELL CRAFTS ONLINE
If your child is artsy, let their imagination run wild with crafts, sewing, building, and refurbing. If they can dream it, there’s probably someone out there willing to buy it.Better yet, they can sell them for nearly free on the internet.
Your kids may be looking for things to keep busy with during these unsettling times, where they are stuck at home. Why not put their energy to good use? They’ll combine creativity with business acumen as they learn how to set up their own business on platforms like Etsy or Amazon.
Selling fees are minimal, so they’ll be able to put more of the money they earn away for good use. As a parent, this would be a great time to start (or continue) teaching them finance basics like budgeting, saving, or even investing. They may even be eligible to open up their own IRA!
DANIELLA @ I LIKE TO DABBLE SUGGESTS MAKE MONEY PLAYING VIDEO GAMES
What kid doesn’t love video games? I know you rather them go and play outside and interact with reality but, the more you force something on them, the more they want to do the opposite.
Let them play those video games and maybe even get paid for it. There are plenty of online platforms kids can stream and make money playing video games including (but not limited to):
- Twitch: Ask for donations, or when you reach 500 regular viewer count, you can apply to become a Twitch partner and get paid for serving ads.
- Mixer: Similar to Twitch, where you can ask for donations or become a Mixer partner and make money from ads.
- YouTube: When you reach 1,000 followers, you can start serving ads that you get paid for. You can also make money with sponsored partnerships and affiliate links you post in the description of your videos.
Let your kids get creative with it and try out different apps too, like TikTok, to send more followers to their streaming profiles. More followers = more money.
MAGGIE @ YOUR MONEY GEEK SAYS RAKE IN THE MONEY
Summer is right around the corner, and there are likely plenty of people in your neighborhood looking to hire someone to help out around their yard. Check out apps like NextDoor and see if anyone is looking for help or advertise your skills.
House sitting, dog walking, run errands, and pet sitting are other ideas that can be done after school or on the weekends.
Just remember to keep six feet of distance between you and the homeowner. It would be wise to have your tools and gloves to bring with you for the job and remember to bring sanitizing wipes to clean off anything you might touch. Some people may be willing to pay you $10-25 an hour to simply rake leaves or clean up weeds.
MARC @ VITAL DOLLAR SUGGESTS START A YOUTUBE CHANNEL
Several kids have very successful YouTube channels. Some of the videos are as simple as a kid playing with toys. I had no idea of some of the types of videos that were on YouTube until I had kids of my own.
It’s incredible how some of these simple videos will have an astonishing number of views. I can understand why they have so many views because my kids will watch the same ones over and over again.
As the owner of a YouTube channel, you can make money through advertising (YouTube Partner Program), sponsorships, and affiliate programs. And unlike some other ways of making money, having a YouTube channel can even be fun.
JOSH @ MONEY LIFE WAX SAYS MOW GRASS!
From age 10 to present, my lawnmower (or mom’s when I was a kid) has been a money-making machine for me. In fact, my brothers both used lawnmowers to create full-fledged companies at 17 and 18.
That being said, if you’re a kid and trying to earn some extra coin, every time you mow your lawn, knock on a neighbors door with really long grass. Tell them it’s $20 a cut or $30 for a huge yard.
Do an excellent job and tell them you can do it every two weeks for the same price!Mowing grass is better than a traditional part-time job because you pick the hours and the number of yards you prefer to cut!
TOM AT THIS ONLINE WORLD SUGGESTS TRY OUT FREELANCING
Often times, I think kids or young adults are scared of getting into freelancing or making money online because of their age. However, based on my own experiences and the sheer speed at which technology moves, I genuinely believe that age is not a factor or barrier to entry.
There are a variety of ways to get into freelancing at a young age. Contrary to what many people think, freelance marketplaces such as Fiverr actually let you start selling as early as 13, so this is a viable option for kids to consider.
Fiverr is definitely competitive, but you can also pitch your services in blogging/business owner Facebook groups to help get more eyes on your profile.The key is to put in some extra work to find clients outside of just the Fiverr marketplace!
Kids can also turn to their own network to pitch freelancer services, and there are so many lines of work to explore, such as:
- Video and photo editing.
- Creating YouTube thumbnails.
- Content writing.
- Being a virtual assistant.
- Running social media accounts, as mentioned.
As long as you can back up your skills, there’s no reason your age should be a limiting factor. It’s possible to make money online and to create different sources of income for yourself, although you will have to put in the time and effort to build up your client base.
SCARLETT ROSE @ YOUR MONEY GEEK SUGGESTS DELIVERING GROCERIES AND NECESSITIES
With the restrictions in place and people opting not to go shopping, many people are turning to specific sites to have groceries and necessities delivered to their door.
If you don’t have a neighbor or friend looking for this service, then turn to the delivery websites. Check into personal shopper sites such as InstaCart or Shipt to apply. Once onboard, you have the option to select the shopping jobs you would like to take. You will also have the opportunity only to shop in-store or shop in-store and deliver to the home.
Each job (or bundle) that is posted will give the amount for the order and what it requires. Doordash and Ubereats are two food delivery services you might consider too. Please remember to use proper cleaning tools when delivering and wear a face mask if necessary for shopping ventures.
BRIAN @ DEBT DISCIPLINE SAYS SELL YOR ART
Have you ever heard about sites like Zazzle, Rebbubble, Cafe Press, or Custom Ink?If you are artistic, these sites are an excellent way to make passive income. You can upload your artwork or quotes, and these sites will produce prints, stickers, t-shirts, mugs, etc.
If you want to get paid selling directly to your audience, social media, and apps like Instagram and TikTok are a great way to show off and sell your skills. Follow the hashtag #Art or #Artisit to see some amazing talent.
My daughter, who’s college internship was canceled due to the health crisis, is making money from home selling her artwork. She takes commissions for caricatures and sells a series of stickers based on the popular video game animal crossing.
Some artists specialize in animal art, drawing, or painting the family pet. There are many ways to leverage your artistic talent and start making money.
RILEY @ YOUNG AND THE INVESTED SUGGESTS SAVING MONEY TOWARD YOUR FIRST INVESTMENT PROPERTY
I firmly believe that one of the smartest choices I made growing up was setting aside the money I had earned. I made money from odd jobs, internships, summer work, TAing, and tutoring. This money was used to purchase an investment property.
I scrimped and saved for multiple years and managed to pull together enough money to buy a condo within six months of starting my first job and have managed to convert it into an income-producing asset ever since.
The condo has been cash-flow positive from day one and has remained consistently rented with little maintenance needed nor added investment.
While not something immediately tangible a kid can use to earn income today, this is certainly something that can provide a significant income stream over time and eventually have supplemented by major gains seen when sold.
FINAL THOUGHTS ON HOW TO MAKE MONEY AS A KID
If you want to start making money as a kid in 2020, you may have to seek the untraditional route. The good news is that these opportunities offer great flexibility and can be started right from home. The even better news is you don’t need to rely on someone else for your income, only your hard work and talent. Good luck!
Culled from Debt Discipline