Consider Looking for Ways for Kids to Make Money To Pay for Their Education

One of the big pressures of the teen years is saving for college. With the rising costs of education, it is probably wise to look for ways for kids to make money to pay for their education. In addition, I want to give you some practical things to remember as parents with teenagers.

First off you need to spend time looking for scholarships and grants for your child. The best part about these is they don't have to be paid back. Grants and scholarships can often be applied in a number of ways. For kids to make money while they are in college some grants can cover other expenses such as housing, books, and sometimes even spending money. There are numerous places to do research for these types of aid. In fact, searching online is a great starting point. Make sure you don't pay anyone to do this because all of these sites should be free.

In addition to searching for scholarships, it makes sense to begin saving for college as well. You have many vehicles for this such as regular savings and maybe even a 529 plan. You should also consider having your child put money towards this if they are working.

Here are a few other things to consider as you navigate your teen through these teen years.

1. You are your child's example. If you want your child to make good financial decisions then you need to make sure you are making them. You have to lead by your actions and not just your words.

2. Talk about the benefits of being in good financial shape. Since you have introduced credit talk about credit rating and how that can affect every area of their life. It can affect whether or not they get the job. It can affect how much interest they pay for a house, car, or insurance. It can also keep you in a position to take advantage of financial opportunities that present themselves.

3. Don't allow your children to overwork - Although it's important to look at ways for kids to make money if they find work help them keep it in the right perspective. Work should be used to supplement school and should never interfere with their primary school work. Since most of these jobs are only temporary it's OK to let one go if your child can't handle it.

So parents if your child is in their teen years, be thankful it only happens to them once. If you plan correctly your teens will make it through unscathed and will be in a positive position to have an exciting financial future.

Credit: Nicole Clemow