Money Management For Teens To Become a Millionaire

As a teenager or young adult it is very tempting to spend your money on new gadgets as soon as you get your hands on some cash. While this can be exciting, how often have you bought something, like a new video game, and then regretted spending your money on that item. While saving your money may not be as exciting as its alternative, it is important to do. Saving and managing your money will create a financial cushion for yourself, when you begin to have more responsibilities, like paying bills as you get older and enter the “real world.” I hope that by reading this post you will increase your financial awareness and learn the importance and benefits of money management as a teenager. 

How to Begin to Save Money

When you begin to save your money you may not know how much to save each month or how to go about beginning the process. Here are a few tips that you can use to get you started.

Set Goals- Say you get a weekly allowance of $20 from your parents, which adds up to about $80 a month. Set a goal for yourself to save $30 of that $80 which will add up to $360 a year.

Talk With Your Parents: I know that when I was younger my parents were excited when I told them that I wanted to begin saving the money that I got for birthdays, holidays and odd jobs around the house. They set up a system where they would “match” every dollar I saved, as long as I didn’t take that money out of my account for personal use. Maybe you can bring this idea up to your parents and see what they think about it.

Have a Plan­-Saving before you spend may be the most important step to this process. As you get older many adults save a certain percentage of their income for retirement funds and other things. You too could save a percentage of money that you get each month and then spend the rest of your income on whatever you choose.

What to do With Your Saved Money

Once you have begun to save your money you will now need to find a place to keep your saved money. The first step that you should take is to open up a bank account for yourself. Opening a bank account serves many benefits, including: safety, easy access and more ways to save. You are protected from robbery that may occur if your cash is stored in your favorite hiding spot, the opportunity to access your account via debit cards/checks/online, and finally an opportunity to earn interest on your account. So what is a savings account and how do I go about getting one?

Saving Accounts

When you’re younger chances are that you most likely have zero expenses. Your parents probably pay for your essential goods like food, clothes and housing. This can make it seem like there is no reason to save your money and you will probably want to spend it as soon as you get it. However, once you get to college you will learn the importance of saving your money when you will have to pay for rent, schooling, food, bills, clothes and all other non-essential items. This adds up quickly and having a good savings account can help you decrease the inevitable college debt that you will most likely incur.

The amazing thing with savings accounts is that you can see your money significantly grow even with a small account. You will earn interest payments on your account on a regular basis and these payments will allow your account to grow without you touching it. For example, say you initially deposit $50 into an account and $50 every month for 5 years. The $3000 that you deposited (5 years*12 months/year*$50), with a 6.5% interest rate compounded annually, will turn into $3,585.31, a gain of $585! Now imagine that you continue to deposit $50 every month for another 5 years. The $6000 that you have put into the account has now turned into $8,428.98, a gain of almost $2500 that you would not have had had you not put it into a savings account. Scale up that $50 monthly deposit into your account and you will see yourself with incredible gains of tens and hundreds of thousands of dollars.

A great list of the best savings accounts of 2014 has been put together over at The Simple Dollar.With parental supervision, you should start researching some accounts and possibly open one up for yourself.

Investing

While investing your money may be a little bit risky, it is an awesome way to increase your financial awareness and possibly set yourself up for stability down the road. Investments do however pose more risk than savings accounts, as there is a possibility that you can lose your money. The three most common types of investments include stocks, bonds and mutual funds.

Stocks- Stocks are when your have partial ownership in a publicly traded company. If the company is doing well, you will have an opportunity to sell your “shares” of stock for more than you paid for them. However, if a company performs poorly you will lose money as you may end up selling your shares for less than what you paid for them. Investing in stocks is fun to do as you can see your investments increase when companies come out with new products or ideas.

Bonds- Bonds represent a promise from a company or organization for a payment of a specific interest rate for the money you leave with them for a specified period of time. Bonds are much more safe than stocks, but you will not have the opportunity to make as much money.

Mutual Funds-Mutual funds are professionally managed collections of money from different investors. Each mutual fund invests a variety of ways including in stocks or bonds. So you are essentially giving your money to these money managers who run these funds in the hopes that they will increase your capital for you.

Penny stocks also offer a way to make yourself a lot of money, however proceed with caution and only use funds that you can afford to lose. Check out my post Turn $500 into $5000 with penny stocks to learn more on the topic.

For more detailed information on the potential risks and returns on investing I suggest you check out a “ Beginners Guide to Investing” at the SEC: www.sec.gov/investor/pubs/begininvest.htm

Be Smart

All in all it is important to be smart when you are saving your money or investing it. Money management as a teen or college student is a great skill to have and if you can start saving at a young age you will be miles ahead of someone who begins saving at a older age. If you successfully save and invest your money chances are that you will become a millionaire at some point! Thanks for reading and I hope you have a great day!

10 Quick Ways to Make Some Extra Cash

Are you in need of some extra cash right now? Don't worry, here are some ways for you to make some extra cash today:

1.) Sell Bodily Fluids
You can sell your plasma, breast milk and other fluids for about $35 a session. Do a simple google search for clinics in your area and you can make some extra cash today.

2.) Babysitting
As most of you are teenagers, you may not be quite old enough to babysit. However, if you have a young neighbor or young brother or sister you can probably make about $15 an hour to watch them for short periods of time.

3.) Look Around for Change
Chances are if you look around hard enough in places like your couch cushions, car or under your bed you can find some extra money that should amount to a solid about of cash for you.

4.) Return Past Purchases 
Recently bought a a video game or movie and still have the receipt? Theres a good chance that you can take the product back to the store you purchased it at and get that money back for yourself. A very easy way to get some extra cash for yourself.

5.) Recycle Scrap Metal
Have a car? You can go around your town during trash day and take scrap metal from people's trash, like copper piping, and sell the metals to scrap metal yards. A very easy way to make some cash today.

6.) Make Things to Sell
Chances are as a teen you probably have some extra time on your hands. If you are crafty you can make your own business and sell things such as t-shirts, soaps or perfumes. You can sell your product on Etsy and make a lot of money for yourself.

7.) Take Paid Online Surveys
Paid online surveys are a very easy way for teens to make money online. Websites like CashCrate, Treasure Trooper, and Squishy Cash allow you to make a lot of money from the comfort of your home. Check out my CashCrate proof of payment if you haven't already.

8.) Hold a Yard Sale
As a teen you probably have some old toys and gadgets lying around the house. With your parents permission, you can hold a garage sale to get rid of some old things and make yourself a lot of extra cash.

9.) Sign up for Medical Tests
There are usually medical tests going on at your local hospital that you can sign up for. Google medical test volunteers and you can sign up for tests in your area today. You usually have to pass some sort of physical in order to take part in these tests, but as long as your a healthy individual you should be fine.

10.) Sell Roadside Items
You can buy a $5 30 pack of water and sell the bottles for a dollar a piece on hot days. It is a quick and easy way to make an extra buck for those desperate times.

There you have it, here are 10 quick ways to make some extra money as a teen today. If combined you can make yourself a pretty penny and it won't take much effort on your end.

Check out some of my older posts if you are new here:
Make $100 a Day
CashCrate Proof of Payment
Turn $500 into $5000

Write a Guest Post at Teens With Money!

I have recently realized that a lot of my readers have great ideas and I currently do not have any guest posting system. Starting November 2014 I will now begin reviewing and accepting well-written guest posts about money making methods, marketing ideas, ways for teens or college students to make money and others ideas. You can link back to your blog in the article, a great way to attain a do-follow backlink and therefore increase your page rank for your keywords.

If you wish to submit a guest post for consideration, then send it to teensandmoney@yahoo.com. The article should be original and not published anywhere else on the internet. I’m looking for unique ideas, not an article that you simply stole and spun from another website. I will not accept every post that I get, however if it is unique and about an interesting topic there is a great chance that it will get accepted. Please, do not be spammy or promote any affiliate links as there is ZERO chance that I will publish it to this website.

Doing a guest post on a blog is one of the best free ways to give your blog some exposure. You’ll be able to reach a very large readership and if they like what you have to say, chances are good they’ll check out your blog and maybe subscribe to it. You can also include an authors bio paragraph where you link back to your website or Twitter/Facebook. So best of luck and send me what you have to say!

How Teens Can Make Money Online: Is Treasure Trooper a Scam?

For those of you that don't know, Treasure Trooper is another online survey money maker. I joined the website about 6 months ago and have made myself $872.42 in that time. I complete surveys, fill out offers and refer other members. But is it a scam or not? Lets find out!

How to Sign Up
When you get to the Treasure Trooper homepage you will be asked to fill out some personal information pertaining to where your check will be sent to. Don't worry they do not ask for any credit card information and there is even a Paypal option for payments.

After you sign up your account will be credited with a $1 sign-up bonus. Not too shabby!

Next Steps

After you sign-up you will be at your homepage where you will have an option to make money via a variety of ways. You can click on cash surveys, cash tasks, cash search, cash videos, or trading court where you will have the ability to trade gems and coins you collect for cash and gift card prizes. Examples of prizes include an Xbox 360, Nintendo Wii, Ipod Nano, $50 Visa Gift Card or a $50 Amazon Gift Card. All very appealing options for a teen or college student who loves playing the newest video games.

Does Treasure Trooper Cost Money?
Absolutely not! Yes you can use your credit card to fill out offers for larger sums of money, but that is not needed at all. There are thousands of dollars worth of free offers that you can complete without the use of a credit card. Treasure Trooper has paid out nearly 7 MILLION dollars to its users since they began operation and there is no reason that you can't collect a couple hundred dollars or more from them each month.

$300 Bonus
One of my favorite thinks about Treasure Trooper is that you receive a $300 bonus once you achieve 300 referrals. It is quite easy to get that many referrals and if you have an effective blog, then you can get that bonus in a months time. Along with all of the money you will make off your referrals ($1 per active referral you get and 20% of their earnings) you will also get the bonus which is something that other survey sites don't offer. Check out my post, Blogging is The Key to Getting Referrals!

Cashing Out
When it comes to cashing out all you need to do is head over to the "redeem" area. The minimum cashout is $20 which is pretty standard, but not only can you get your money via check or paypal, but also other crazy options that Treasure Trooper offers like gems or raffle tickets you can use to win larger prizes.

Overall
Treasure Trooper is a great way for teens to make money online and not a scam. It is by no means a get rich scheme but if you have a positive work ethic and utilize my referral method then you can easily find yourself making over minimum wage with little work. Overall, I would give it a 8.5/10 and definitely think you should check it out now!

How to Build DoFollow Backlinks in 2015

For those of you who are new to blogging and making money online, chances are you haven’t really received proper information on the term “backlink.” A backlink is a link from another website that links back to yours. In the eyes of Google, when your website is linked from a popular website, chances are that your website is reputable and should be ranked high in the search engines. Google recognizes both “dofollow” and “nofollow” backlinks. While nofollow links do help increase traffic, they are not followed by search engine bots and do not improve your search engine rankings. Dofollow links on the other hand are followed by search engine robots and help to increase your search engine presence.

In the past it was entirely possible to comment on a few blogs, add your site to some directories, submit a couple articles and just like that you’re on the first page for your keyword, as is shown on my previous post, how to get backlinks. This has since changed as spammers were able to create micro-niche websites, rank them quickly, load up their websites with Adsense and affiliate links and make a lot of money very quickly. Google now likes authority websites, who come out with unique content and are updated regularly.

As 2015 has rolled around, it is now harder than ever to get good search engine presence due to the constant Google alogrothim updates that are always coming out, like Panda and most recently, Penguin. These updates have made it harder for smaller websites to rank well for their keywords, especially if the website is newer. This can be difficult on teens, because if you find your website is not ranked in the top few pages for your keyword after a few months, chances are that you will give up rather than keep working to improve your website.

Don’t give up though! It is still possible to rank well on Google and other search engines, as long as your know where to look for those much-admired “dofollow” links. Here are 6 real places to get links, that are legitimate and approved for increased optimization on Google.

Google +

Create a google+ profile and link your website with anchored text. This social bookmarking website is an amazing resource and Google attributes the link in your profile as dofollow increasing your search engine presence. However, make sure that you add your website as a link and not as a contributor as Google will recognize a contributor link as nofollow! Check out my dofollow link at Google+ in the image to the right!

Google Places

Google places is a highly effective place to build yourself a powerful backlink. This is a very good source that is devoid of nofollow links, which will help boost your search engine rankings.

Ezine Articles

While article marketing is no longer the beast that it used to be and is a bit outdated, it has still worked for me in increasing my Google ranking. Thanks to a recent update in Google’s algorithm, sites like Ezine Articles no longer have as much power as they used to. However, I have personally still have had a lot of success with them as every time I submit a new article with my anchor text in the “About Me” section, my website increases on Google almost simultaneously. It still remains a great place to pick up an extra link for yourself.

Stumbleupon

Stumbleupon has steadily been growing in popularity and is an amazing place to pick up some extra backlinks as well as traffic for your website. All links that you submit are followed.

Article Directories

While article directories are no longer the powerhouses that they once were, there are still some high PR ones out there that offer your website a dofollow link. Here are some that I suggest you check out and submit your website to:

Directory World

So Much

Comment On DoFollow Blogs

Commenting on high PR dofollow blogs is a great way to build backlinks for your website. As it is harder to find websites that allow dofollow comments in 2014 than it used to be, it can be difficult to find useful blogs to comment on. However, thanks to our friends over at ClickMinded, they have put together a massive list of 1000 "dofollow" commentluv blogs. Start commenting today!

Building links in today’s day and age, especially as an unexperienced teen is not an easy task and does take a lot of time to do so be patient! If you find that your website is not ranked where you want it to be, don’t give up! If you utilize the above methods you will find yourself with some high PR dofollow backlinks, which will definitely help boost your website in the SERPs. Have an idea that I didn’t discuss? Comment below with your idea to gain a dofollow backlink!

Resources:
www.Backlinkto.com

http://www.webopedia.com/TERM/B/backlink.html

www.shoutmeloud.com

Teens Make Money Online Using Fiverr and Make $5/Sale

For those of you that don't know, Fiverr is an online marketplace offering tasks and services, referred to as "gigs"beginning at a cost of only $5 per gig. An example of a gig would be that you would create a custom logo for someone for $5, or record yourself singing a song for that person for $5. The list is endless and you can make a lot of money doing just about anything with the service. If you're a creative teen, and chances are that you are, you you can find yourself making a decent income for yourself each month.

Here are some examples of Fiverr "gigs"

The Numbers

Say your gig is that you will perform a prank phone call for $5. (After fiver deductions this comes out to exactly $3.92 per sale). So Say you will be making $3.92 per prank phone call you do.

You perform 3 prank calls a day for your buyers.

3 x $3.92 = $11.76/day

$11.76 x 30 = $352.80/month

Not bad for a few "prank phone calls" each day. Obviously you can scale this up and offer more gigs and finish more of them each day. Say you finish 10 gigs a day. This will come out to $1176/month!

Ideas

• Draw someone as a cartoon
• Create a video testimonial for someone
• Sing someone a song such as happy birthday
• Design t-shirts for someone
• Tell a funny story
• Do a funny photoshop job
• Create an e-book

If you have any sort of talent, you can make money through Fiverr. Be creative and use your head to come up with some great ideas. If you can't think of anything head on over to Fiverr and scope out some already used ideas to get your brain flowing. When you find something that works, scale up that operation and work on becoming a Level One, Level Two and Top Rated Seller. At each new level you gain the opportunity to offer "gig-extras" and the potential to make yourself a lot more money.

Overall

If you have some free time and are the creative type then you can make yourself some solid cash on Fiverr. It will most likely be a good amount of work, but Fiverr is a legitimate website that pays money. and a great way for teens to make money online. Best of luck to you guys and let me know if you have any questions!

CashCrate Remains the Best Way For Teens to Make Money Online

Making money online as a teens continues to be a difficult topic in today's in internet age, however if you know what to look for then you can make your self some serious, residual money. CashCrate remains to be my number one earner month after month, and as this point I can pretty much expect deposits of a couple hundred bucks, multiple times a week, into my bank account. Check out a recent payment from CashCrate that was delivered to me in September:

$273.17. So despite what may be said on some other websites, CashCrate still remains an incredibly effective way to earn money online. You only need to be 13 years old to join, and they have paid out nearly $4,000,000 to their users since 2006. There is no credit card required to join and all you need is your time and effort in order to fill out surveys and refer other members. There is a business of making referrals to websites like CashCrate and the best way is through the use of creating your own blog. Blogging is the best way to not only get referrals, but also collect some revenue through sites like Google Adsense. So check out some of my older posts and make some money online as a teen!

As always, if you have any questions for me, leave a comment!