As a teenager it is very desirable to start making money, and there are many ways you can achieve this! Let’s start right away.
1. Selling products at school.
Selling products at school can be very profitable, with good days making £10. The first step is to find what product to sell. What would you like to buy if you were at school? Sweets and chocolate are popular, and once people have bought the food they will come back tomorrow to buy it again. So, you need to find a product that you think will sell well in your school, and is cheap to buy. If you live in the UK, a good website to go to is mysupermarket.co.uk. This website compares all the supermarkets to find the best deals. Only buy products that you will be able to sell for a profit, and preferably you will buy them for much less than what you sell them for. If you live elsewhere, check various supermarket websites to find the prices. Then, go and buy the item!
Make sure you record what you buy, how many items and what it costs. This means when you go to sell your product at school, you can keep track of how much money you’re making. Try different products and find what works best. A really excellent thing to sell is fizzy drinks, especially in the summer. At a school of 1500 pupils I managed to sell over 40 a day when it was hot, buying for 25p and selling for 50p. (Get multi-packs that are on deal). That’s over £10 profit a day, £50 a week! Sell a few sweets with that to make even more. However, bringing in 40 cans a day can be tiresome as they’re heavy. You will need to put them in a separate bag.
You could also try going to a wholesalers if there is one near you. These are large stores that sell stuff cheaply. Some shops get their stock from wholesalers. Most require a membership, and some require a membership fee every year, so try to get your parents to help you with that.
If one day your stock is being bought quickly, raise the sell price to maximize profit. You could also try promotional stunts. For instance, keep track of who buys stuff from you, and the person that buys the most at the end of each week wins something.
2. Writing articles.
You may be wondering why I’m sharing these methods with you. Well, it’s because you reading this has earned me a little bit of money! Some websites will pay for you for your writing skills, like helium.com. There are others as well, like associated content owned by yahoo, but it doesn’t pay people who live outside the USA. If you think you can write a decent article then sign up to one of these sites and get writing. The hardest part I find is thinking of things to write about, so try to get as much inspiration as you can. You don’t get much per article, therefore you must write lots in order to get good money. A nice aspect of these sites is that you keep getting money for the article after you wrote it for each person that views it. You could of course write articles for Rasoti and get paid. If you are interested, please click here.
3. Freelancing.
If you have a special skill, you should sign up to a freelance site to offer your services. The best things to be good at are web design, video creation and animation, programming and other computer-related things. A big site is elance.com. Update your info and bid on contracts you can do.
4. Currency trading
This may seem silly but it can make lots and lots of money. However, you can also lose money. There is a much to learn if you are new to currency trading. Luckily, there is help on the internet for beginners. You will need a platform to trade with, and one that’s optimized for beginners is etoro. They have a free trading guide here. To trade with them you must create an account, and then either log onto the webtrader platform or download the desktop platform. The great thing about this software is that there is a practice account, where you have control over $10000. After some practice you may get to know what the exchange rates do and make some profitable trades. Even better: copy from the pros. Etoro offers an open book, where you get to see all the trades made by real people. If you click on “Top 100″ you only get the trades made by the top 100 ranked members. There is a button next to each trade that says “copy”. If you press this you automatically copy the trade! You could be making loads of money just from copying other people.
Important note: I strongly suggest you do not invest real money until you have proved that you can actually make money and not lose using the practice account. Don’t base this on one successful trade, carry out lots and lots and lots of trades to make sure you won’t lose your money. You will have to convince your parents that investing is a good idea, so as well as proving to yourself you need to prove it to them.