Money Topics

Earn Well

Getting paid for products and services gives us a sense of accomplishment. The same goes for children and teens.

Ways Children and Teenagers Can Earn Money

  1. Getting an allowance.
  2. Earning money through simple jobs.
  3. Getting a part-time job (teens only).

A Job That Pays Wages

  • The job pays you an hourly rate.
  • You can earn more money with overtime with a job that pays wages.
  • You rarely get benefits with a job that earns wages.

A Job That Pays a Salary

  • A job with a salary pays you a monthly or annual rate.
  • You cannot earn more money by working overtime with a job that pays a salary.
  • You may get benefits with a job that earns a salary.

Four Major Taxes That Impact Take-Home Pay

  • Federal income tax
  • State income tax
  • Medicare
  • Social Security (OASDI)

What Affects Your Career and Job Choices

  1. Your interests
  2. Your education
  3. Your skills

Money Topics for Parents:

12 Key Financial Topics to Cover With Your Children and Teens.