Teens & Summer Jobs: Teaching the Right Lessons | St. Johns Bank

School is out for summer! Is your teen gearing up for—or already working—a summer job?

Our team at St. Johns Bank wants to share some insight on the topic of teens and summer jobs. Read on for a look.

First Things First

What was your first job? While you might have memories flowing in of your first job as a young adult, the thing that probably sticks out the most is the feeling you got when you had your first paycheck in hand!

Do you remember how you felt rich with that first paycheck, and how the money you made during your summer job as a teen would feel like it lasted forever? Why can’t it feel this way still?

Unfortunately, it doesn’t. And as we grow older and gain more financial responsibilities, we sometimes look back on our first job and how we wish we knew then what we know now.

Though you can’t go back in time, you can help make certain your child doesn’t make the same financial mistakes with his or her first paycheck.

Teach Your Teen Valuable Money Lessons

Your teen may not owe rent or need to worry about utilities each month, but that doesn’t mean you shouldn’t teach him or her the basics of a budget.

Teens do often have some expenses they’re responsible for, so a teen budget might include categories such as:

• Smartphone bill
• Car loan and/or gas
• Entertainment (movies, eating out, etc.)
• Savings
• Charitable donations

When you start money lessons early, your kids are more likely to take those habits into adulthood. Therefore, now’s as good a time as any to teach your children the basics of money management.

Did you know for just $1, your child could open up a Youth Savings Account at St. Johns Bank? Contact us today for information.