- Get a Job
- Side Hustles
- What is Print on Demand
- What is Drop Shipping
- Start Saving
- Get the Work Done For You
- Spend Less
Are you still in your teen years? Worrying about the future ahead? Worry not, as you have plenty of opportunities to make lots of money, I am going to provide a step by step guide on how you could make your career sky rocket to the top!
Get a Job
What is Print on Demand?
What is Drop Shipping?
Drop shipping is where you find cheaper products at their original price and then sell them for a higher retail price, this allows you to earn lots of commission and can lead you to earning thousands per week!
Usually people will make their website via Shopify due to the 14 day free trial, I would only recommend you do this once you have everything setup for your drop shipping business!
If you do not have a high budget I would highly suggest square space this is because you can create a website for free, but on the free version you will have their domain extension and them advertising them self in the footer, once you have enough money you could start paying for the bare minimum and get rid of these, this is what I personally did to start my business off but with print on demand instead!
Step 3: Start saving! The best of us like to spend our money and things we really want, but sometimes if you wait a little longer, your patience will pay off and you can afford everything you want, all your dreams are possible to achieve, you just need to be willing to start the journey!
To save your money, I highly suggest you pay yourself first, especially if you are a teen that doesn’t have to pay any bills or rent, the best way to do this is to put 20% of your money into a savings account and 80% of your money into things you need.
Personally I use HSBC due to it having a 2.5% interest rate, meaning that every month I get 2.5% of my money added onto what I already have, the more money in your savings, the more you earn, however I highly suggest you do not rely on this as it is something that is not possible to live from.
Step 4: Invest! You should invest some of your money into making more money, I started doing this by reselling things that I had looked for to sell. This could be a side hustle itself, as lots of people have been known to make £1000s with this money making method.
You could also invest in an ISA account, this is where you will put money towards stocks and shares however there is always going to be a risk that you will lose money, it really depends on how uncertain you are about it, make sure to do lots of research before doing this! If you are under 18 then you could get a parent to set an account up for you which will then go to you when you finally turn 18!
Investing in stocks and shares is not a get rich quick scheme, it is something to be done long term, so when you want to retire, you hopefully have enough in your account to live off for the rest of your life! If you have bills that you need to pay, you should have an emergency fund of at least 3-6 months just in case things do turn upside down. Overall it is a good long term investment that could set you for life after a good amount of years!
Get the Work Done For You
Step 6: Make people work for you or with you! If you have a friend with a similar interest in creating their own business, you should get together and try create it yourself, this will be a really good way to get more work done, this can also be a very testing time for a friendship, as creating a business is no easy job and sometimes disagreements do happen, but this is all part of the ride and you can then end up making lots of money together and live your dream lives!
Get the Work Done For You
Step 7: Spend less! If you spend less money, in theory you are saving more, that new game can wait, then a new pair of trainers will be around for a while and be cheaper later on! Before buying things you need to think it through first, otherwise you won’t keep making a good amount, even if you start making lots of money you should follow the steps on here as they will be super helpful!
Other Ways You Could Make Money
If you can maximise the amount of money you make, you maximise the amount of money you can save and the amount of money you can invest into things that will make you even more money.
The first thing you should be thinking about is a part time job as this brings you in constant income and something more stable at the beginning! Once you have done this you should then start to look at a side hustle that you would enjoy doing, personally I do blogging because I love writing and I love helping people!
Start a Print On Demand or Dropshipping business, if you do not know what you would like to start these are two really good easy and cheap ways to get into the business world and start making a good amount of money!
Start saving your money instead of spending it left right and centre: this helps you to then build up some money in the bank, get some interest on it and in case of an emergency you have already got money in the bank to deal with it!
Invest, once you have saved enough money, you should invest some of your earnings (Not Savings) into a business idea or something like an ISA account!
When you can afford it get your work done for you at a price as this helps you to focus on the most important aspects and reduces a little bit of the pressure.
Spend less, make sure to always keep an eye on what you are spending and do not spend money where it is not needed or where you cannot make a profit out of it.
You could also do jobs for your parents, gigs on fiveer or upwork and sell things you no longer need!
How are you going to make your income this month?