So, you want to go to college or university. Good for you! You're probably wondering how you'll pay for it. Well, I'm going to tell you what to do. Yes, that's right -- I'm going to tell you what to do. Whether or not you listen to me is another story.

How did I pay for college? I chose to work full-time and go to college part-time. Why? I wanted the advantage of having real-world experience. I knew I would have to sell myself and skills. Real-world experience complemented with my education gave me the edge I needed to get jobs. I could prove I deserved the jobs I applied for because I already was practicing what I was learning. Furthermore, it showed managers and supervisors that I was able to handle pressure and could meet deadlines. Again, this was my choice. It may not be right for you.

How to pay for college and university

1. Grants.
2. Student loans. Try to use these as a last resort.
3. Work in a co-op or internship program.
4. Create your own business.
5. Start a blog and earn money from it.
6. Ask your parents to invest any monies you receive into stocks, bonds, and other investments.
7. Save your money from your job and put it into a savings account.
8. Live below your means. Do you really need that Xbox 360 or PS3 right now? It will be obsolete once you buy it!
9. Do you need a new car right now? If you attend college/university, you may not be able to bring it with you. Every college and university has different rules and regulations.
10. Apply for scholarships.
11. Create a website and ask for donations from corporations and people. Many people are doing this to find employment. Ask your parents to help you!

You can pay for college and university and won't have to take on debt like your parents. Get off of your butt and do something! Mow the lawns in your neighborhood -- shovel snow. There are lots of ways you can earn money for college and university. Put down the Nintendo 3DS and get to work!
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If you're looking for a job but aren't interested in working in a fast food restaurant, create an app for the iPhone.  I heard about Robert Nay, a 14-year-old boy from Spanish Forks, Utah who developed the app Bubble Ball for the iPhone.  It's now the most downloaded app on iPhone and has dethroned the app Angry Birds.  Robert's app has been downloaded 2 million times!  If he charged $1.00 per download, he would be a very young millionaire.  

Teens get outside of your comfort zone and use your talents.  Forget about what the naysayers and use your skills to become a millionaire by the time you're 20-years-old.  If you're a computer whiz, create websites for companies.  If you're a computer whiz, develop apps for the iPhone or Droid.  You could be making some serious cash that could help your family and put you through college/university.

How are your drawing skills?  Do you love graphics and media?  Why not take graphic design classes and start your own graphic design company?  How about taking classes in AutoCad?  Here's what you could do:

  1. Design logos for companies and solo professionals
  2. Create greeting cards and business cards. 
  3. Create video games.
  4. Design websites.

You make some serious cash from your talents.  Wouldn't it be cool to get paid to create video games?  Who better to create video games for teens and young adults than teenagers?  It's marketing genius!

If you love music, get yourself on YouTube (Justin Bieber did this) or TuneCore.  Canadian singer Drake aka Jimmy Brooks on Degrassi: The Next Generation, uploaded his music on TuneCore.  His single "Best I Ever Had" reached no. 2 on the Billboard Hot 100.  He's now represented by Universal Motown and his debut CD received a Grammy nomination.  The rest as they say is history. 

Instead of taking the same old, same old 'teen' jobs, create your own.  This is the best way to create job security.  The world is different from your parents and grandparents generation.  Seize the moment and any opportunity you can to be your own boss and to have multiple streams of income.  If you do this now, you won't be worrying about the economy because you'll be set for life.  To quote Alice in Chains, "It's your decision."
 
Bonus!

You could write a book and self-publish or shop it around to literary agents and publishers. 
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I answered a question from Rory, a 15-year-old girl, who posted a question on Yahoo! Answers about getting a job.  She wanted to know where she could get a summer job and if organizations would hire her.  She also had questions about resumes and CVs.  Let's explore how teens can get a job.

First, you must be 16-years-old or older to work for certain companies such as fast food restaurants and clothing stores.  This is just how it is.  Some companies expect you to complete an application online because it's fast and convenient.  Sometimes companies will allow you to fill out an application at the store or take it home, complete it, and bring it back.

Second, you may need a resume.  The U.S. prefers resumes, but foreign countries prefer a CV to a resume because it provides more in depth information.   The only time a CV will be applicable is if you're applying for certain jobs such as a professor, doctor, lawyer, or some other high profile job.  Or, the company may require you to send a CV.

Obviously, your resume at 16 won't be that in depth.  Resumes are easy to create.  Here's what to include on a resume:

Your Name
Address (includes state and zip code)
Phone Number
Email Address*
Objective**
Skills
Experience (if you have some)***
Education (in your case high school and or college courses you've taken)

You can add a 'volunteer and other activities' section to show your employer that you're a well-rounded teen. 

Use a regular font such as Arial, Times New Roman, Helvetica, or Verdana.  Don't use a 'cutesy or funky' font because your resume will be tossed out.  The only way you may be able to get away with this is if you're in a creative field such as graphic design or any other type of design work.

*Don't use a 'cutesy' email address.  Create one specifically for getting a job.  Employers won't take you seriously if you send them a resume from 'cuteypie16@whatever email provider.com.'

**Objectives are becoming a thing of the past, but you're starting out so you may want to include one.

***Include the following information for the Experience section:  Name of Employer, City and State, Dates Worked, Job Title, and Job Responsibilities/Achievements.

BTW:  Rachel, a 14-year-old girl wanted to know if it was possible to get a job at 14.  Click here to read my answer.

Third, make a list of organizations you'd like to apply for and research them.  Also, ask your friends where they work and if there are any openings.  This is a great way to learn how to network.  When you get older, you'll discover that networking can lead you to some wonderful opportunities.

Finally, make sure you want the job.  When you accept a job, you're making a commitment to show up when you're scheduled to work.  This may include weekends and holidays.  Think about this before you accept a job offer.  If you don't really want to be there, don't take the job.

Of course, if you're entrepreneurial, you could always create your own 'job' such as landscaping, fixing computers, creating websites or logos, starting a not-for-profit, or some other business.  Good luck! 




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What business do you think McDonald's is in?  I bet most of you answered hamburgers but that's incorrect.  McDonald's is in the real estate business!  This is straight from the mouth of Ray Croc when he spoke to the MBA class at the University of Texas at Austin in 1974.  McDonald's is the largest single owner of the real estate in the world, even the Catholic Church doesn't own as much as they do!  Teens, you may not be thinking about business some of you are.  In fact, there's 'chatter' on the internet about the top millionaires under the age of 25, and yes some of them happen to be teens.  Would you like to be a millionaire at the age of 16 or 17?  That's not too shabby.  You'll have your own money and be able to purchase what you want.  Of course, you'll want to invest some of your profits for your future.

FYI:  Ray Croc opened a franchised restaurant in Des Plaines, IL on April 15, 1955.  It was the ninth McDonald's.  Mr. Croc purchased the McDonald's brothers' equity which led to the worldwide expansion.  The company was publicly traded on the stock markets in 1965.

Unfortunately, schools do a poor job of teaching you about business and economics.  They don't do a good job about teaching your about money either.  The more you know about business the better you'll be able to navigate through turbulent 'economic waters' that could capsize you when you own your own business.  Remember, that you're in the business of problem solving and sales and marketing.  Make sure you invest your money wisely!

Business can be fun, especially when your profits increase year after year.  Think about all the good you can do if you have a successful business.  You could start your own not-for-profit, help your community, and donate to charities. 

FYI:  Most business people aren't greedy, even though there could be a few 'rotten apples' here and there. 

For the most part, successful business people know and understand it takes team work to build a business -- you can't do it alone.  You need the support of people who believe in you.  Sometimes these people won't be your family and friends so don't be shocked if they try to deter you from accomplishing your dreams.  Ignore them and surround yourself with inspiring, positive people who'll support you know matter what.

If you're entrepreneurial and would like to start your own business, ask some of your friends to join you.  Ask your parents for help or family members who already own their own business.  They can guide you to make the right decisions.  Before you know it, you'll be on your way to working for yourself.  Good luck and have fun!
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The Social Network is doing very well at the box office.  Aaron Sorkin's screenplay about Facebook's founder Mark Zuckerberg has stirred up a hornets nest!  Peter Thiel, who has a small role (if you blink, you'll miss him) in the film was an outside investor of Facebook.  He put up $500,000 to finance the expansion of the social media website.  Now Thiel is paying entrepreneurs under the age of 20 $100,000 in cash to drop out of colleges and universities.  Thiel isn't a big fan of colleges and universities; he believes they cost more than their worth.  Would you take the money or the stay in college?  Taking the $100,000 may not be a bad idea.

What would you do?  Would you pursue college/university or take Peter Thiel's deal? 


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Teens love to spend money!  If you're lucky, you'll receive cash for your birthday, report card, as an allowance, or for a holiday gift.  To ensure that you always have money, you can get an after school job.  This way you can buy whatever you need or want without having to ask mom or dad.

Given the recent economic client, teens are competing with experienced workers for jobs.  Don't fret because you can still find income opportunities if you know where to look and how to approach a hiring manager.

Note:  Having a job means you'll can benefit from time management skills.  You'll have to do homework after work or get up early to finish it.  Create a schedule for yourself.  This way you'll know what days you work and make sure you complete all of your assignments.  Use study halls to your advantage.  If you're lucky, you'll be able to get a pass to the library or computer room to do whatever research you need to do for assignments.

Tips to finding income opportunities

1.  Read the classified section of your local newspaper.  There are plenty of jobs listed in the newspaper.  Working at a job will give you extra cash and perhaps "awaken" the entrepreneur in you.  When you graduate from high school you may opt to begin your own business versus working for someone else.  Speak to local entrepreneurs and discover how they got started and how they can help you!

2.  Ask your friends who have jobs if there are openings where they work.  Here's a tip:  word-of-mouth and networking are the best ways to find employment.  Most companies will not post their job openings because they rely on referrals from their employees or work with a recruiting agency.

3.  Find a passive income stream.  Let's say you're a teen author.  You can self-publish your book and create other merchandise around it such as CDs, DVDs, t-shirts, and other items.  Mom and dad can help you with this if your school or community doesn't have a "young entrepreneur program."

4.  Attend job fairs.  Believe it or not, there are some job fairs for teens.  Bring your resume and smile with you!  Make sure you dress up.  You don't have to wear a suit, but don't dress in t-shirt and jeans.  Make sure you know something about the companies you want to work for.  Employers like people who know their business.

5.  Create a job.  You can babysit, shovel snow, landscape, paint, or put your technological skills to use by designing web sites.  Again, mom and dad can help you get started or perhaps your school has a program for teen entrepreneurs.

6.  Get involved in the family business.  Ok, a funeral home may not be your ideal business, but you could get involved and earn cash along the way.  Who knows, one day you may decide to run the business.  In the mean time, offer to take out the trash, open the mail, do some light bookkeeping, or whatever else your family can use.  You'll be able to apply the business skills you learn today to whatever you do in the future.

Teens earn money now to save and or buy whatever it is you'd like.  Perhaps you want a car but mom and dad expect you to pay the insurance. Having an after school job will take care of the insurance and gas!  If you want a cell phone, an after school job can pay for that as well.

Earning income as a teen will teach you money management.  Make sure you put money aside for education, giving, financial freedom, and long-term spending.  Read my articles in the Money Management section to learn more about this subject.  It's best to develop money management skills today because it will prepare you for the future.
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Teens do not learn proper money management skills in school.  Parents teach them as best as they can, but they're teaching teens about money based on what they were taught.  Teens, who desire financial freedom when they reach adulthood, pay close attention to the words written on this page!

Being a money manager now will help you in the future.  Most teens begin working when they're 16 years old.  When you receive your paycheck, pay yourself (10%) first.  Put the balance into different areas such as play, education, giving, financial freedom, and long-term savings spending.  Your parents take care of your necessities, but you could have a jar for necessities such as food, school supplies, and clothes.  This way you can buy what you want.

Why is Money Management Important

How well off are you and your family?  How well do your parents manage money?  Have you ever witnessed your parents stress out about money?  Your parents were taught to get a J.O.B. (job over broke) and pay the bills; they were never taught to be successful.  There's nothing wrong with working for a corporation or small to medium sized business, if you're passionate about your work.  Those who do not find passion in their work will go through the motions and be a slave to the system.  This is no way to live!

Money Management Tip:  It's a good idea to pay for cash for items such as food, travel expenses (unless for business), clothing, gas, and entertainment.  These items do not give you a ROI (return on your investment). 

Learning money management skills as a teen will save you headaches in your adult life. You will not be worried about paying the bills like your parents are.  The money will be in your savings and checking account.  All you'll have to do is click a button to transfer funds -- it's that simple!

The Art of Money Management

Unfortunately, teens are not taught proper money management in school.  In the USA, we have yet to incorporate solid money management programs in our school system.  If your goal is to be rich, you'll be in for a rude awakening. What will you do with your money?  What is your BIG WHY for wanting to earn lots of money?  How would it change your life?  How would it change the life of others?  Start thinking about this now so you'll be prepared for the future.

Teens may think that learning about money management is dull and boring.  Be that as it may, it will behoove you to learn about money right now.  Learn about the world of investments, think about your passion (art, science, environment, social service, etc...) and how you can turn it into a money-making endeavor, learn about passive income, investigate money making opportunities such as real estate investment and network marketing opportunities, and learn to surround yourself with like-minded people who have your highest good in mind.

Learning money management skills in your teens will benefit you in your adult years.  You'll sleep sound at night rather than toss and turn worrying about how you'll pay the rent or mortgage.  You'll be able to donate to your favorite causes with ease.  And, you'll have a healthy nest egg for your retirement.

Money management gives you peace of mind and allows you to do what you want to do.  You'll be able to volunteer and give back to the community.  You could start a not-for-profit or hold a fund raiser for a cause that is close to your heart.  Money will allow you to help others in ways that you can't imagine.  Saying that you "want to help others" is an overused phrase.  However, you'll be able to do some good in the world if you learn the art of money management today.  Society needs you!
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Teens, what have you learned about managing money?  If you live in the U.S., you probably haven't learned a whole lot about managing money.  In school, you're taught algebra, trigonometry, English, literature, history, science, and other subjects, but the educational system fails to teach you about managing money.  This is why the U.S. faces economic issues -- no one knows what they are doing!  Listen up because if you want to be a successful adult, you'd wise to learn about money today!

What you are not taught can ruin you

Teachers do the best they can.  The truth is most teachers do not know how to manage their own money.  This may sound crass, but it's true.  You are not taught about savings and checking accounts, real estate, T-bills, stocks and bonds, and other types of investments.  You are not taught to DIVERSIFY your money.  The good news is that you can learn HOW TO manage money now in order to have a successful future.

It's unfortunate that teens are not taught how to manage money.  Of course, it's a great business for credit card companies, banks, and other lending institutions because they charge outrageous interest rates which is how they make their money.  You can outsmart these companies by learning how to handle money.

Managing your money

Teens, the first rule of managing money is PAY YOURSELF before anyone else.  Pay yourself at least 10% of your income.  You can put the money into a FFA (financial freedom account).  This can be a savings or checking account or even a jar! 

*Second, set-up accounts for education (10%), long term savings spending (10%), necessities (55%), play (10%), and giving (5%).  Do this now and you'll be able to handle money as an adult

Third, learn about MULTIPLE and PASSIVE STREAMS of income.  For example, if you're a writer, you could sell books, cds, videos, write screenplays, ghostwrite, teach, and do other things to earn multiple streams or passive income.  Another example of passive income is network marketing which is nothing but sales.  You join a "team" (make sure you understand the rules of network marketing) and you earn money from selling and bringing in other people to the business.

*10% of income
*55% of income
*5% of income

Finally, forget about what your parents tell you about money.  It's not the root of all evil (the LOVE of money is the root of all evil) and you will not receive extra points if you live in poverty.  God, universe, or whatever name you use will not reward you for being poor -- it's a myth!

Unless your parents are financially set and know how to manage money, chances are they will pass bad habits onto you.  They don't mean to do this, they just don't know any better.  Your parents learned money habits from their parents and their parents learned money habits from their parents; it's a cyclical process.  You can be the one to break it forever!

Managing money is fun

Teens, managing money is fun.  Think of it as a game -- a high priced game.  Set goals for yourself and reward yourself when you accomplish your goals.  This is why the "play account" is important.  It's all right to treat yourself; no one says you must be a victim or martyr of circumstance.  It's o.k. to have fun!

The sooner you understand how to manage money, you can teach your friends and siblings to do the same.  It's up to you how early you want to get started on your finances; sooner is always better than later.  Go forth and prosper!


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