TheRichTeens - How Teenagers Can Make Money

How Teenagers Can Make Money

Do you want to be rich? How would you like to make $1,000+ a month when your

13? You can do all of this without a job. Dont fall into the scheme of online

programs that get you rich by having you click on ads and read emails. You wont

make much money from those. Also, most online reward programs (ex.

www.mturk.com) are a waste of time and youll get paid very little. The easiest

way to make money online is with: 1. Selling eBooks on eBay; 2. Starting up an

online store; and 3. Making a website and putting ads on it.

Note: You do not have permission to sell or edit this eBook in any way. This eBook was written on September 02, 2006. 1

1. Selling eBooks on eBay.

A. PayPal

- If youre going to sell eBooks on eBay you should open a PayPal account

at www.PayPal.com.

-PayPal is the easiest and fastest way to accept payments online

-If you join PayPal you can get a MasterCard debit card (age 13+)

-PayPal can be directly linked with your savings account

-you can add or deposit money instantly

B. Subjects

- People write and sell eBooks about a whole range of subjects (and make a

lot of money doing it!).

- The easiest subjects to write about are ones that youre interested in.

-If you mountain bike, write an eBook about mountain biking.

-If you play a sport, write an eBook about that sport.

-Here are a list of some of the more popular eBook subject:

photography; travel; music; cooking; school; grooming pets;

collecting; home repair & car repair; and small businesses. The list is

almost endless.


C. Selling on eBay

- When selling eBooks on eBay I suggest you look at other eBooks that are

selling and see: 1. How much are they selling for? 2. How does their eBay

auction look (graphics, text, etc.)? 3. How can you make yours look better

than the rest?

D. Feedback

-Have positive feedback. Its good to have a positive feedback for the

following reasons:

1. You have a better chance of selling the eBook.

2. The first thing most people look at is your feedback

3. If they see you have a positive feedback theyll read your eBook

description.

-How to get a positive feedback.

-One way to get positive feedbacks is buying a bunch of 1 cent

eBooks and getting a positive feedbacks from those.

-Another way is by opening an eBay store and selling 1 cent eBooks

while making a bigger loss

E. Always email your eBook within 24 hours.

If you follow these steps youre bound to make money on eBay as long as

you have a positive attitude.


2. Start up an online store.

A. Hosting a website

-Host your website using NetFirms

-For $10 you get a year of

*20GB space

*750 GB / month bandwidth

*2 free domain names

*e-commerce

*free design software

*MySQL, PHP 5, Rails

*24/7 Customer Support

*100 email accounts

-For more details on how to get this deal visit

http://www.fatwallet.com/t/18/622374 .

B. Website Name

-The name of your website should be something unique and easy to

remember.

-Your domain name should always be the same as the name of your website.


C. What to Sell

-First, you must find a product that will sell in sufficient quantity and at a

sufficient mark-up to make it profitable.

-Research the market for any product or product line that you are

considering.

D. Drop Shipping

-Drop shipping is a type of retailing where the retailer does not keep goods

in stock, but instead passes the customer's order and shipment details to the

wholesaler, who then dispatches the goods to the customer directly.

-The retailer makes their profit on the difference between the wholesale and

retail price.

-Drop shipping is the cheapest and easiest way to start up an online store.

- One of the drop shippers that I use is www.vistawholesale.com.

-Learn more about drop shipping by visiting

http://en.wikipedia.org/wiki/Drop_shipping or doing a Google search on

drop shipping.

E. Forms of payment.

-Google and PayPal are the most common ways to be paid.

-I suggest you use PayPal since its been along longer than Google.


3. Making a website and putting ads on it.

A. Google Adsense

-Google Adsense is the most popular way to put ads on your website.

-Your supposed to be 18+ to get payments but you can get around this by

using your parents names or just sign up with your name because they

usually dont check you age.

-Google Adsense sends you a check every month or whenever you make

$100.

B. Website

-Your website can be about anything but it should be something that people

will want to come back and see.

-Look at the more popular website (myspace, Google, eBay, etc.) to see

methods they use to make money.

-You can put ads on your website that you used for the online store.

C. Research

-Research how to make websites.

-Buy books about html, JavaScript, macromedia flash, etc.

- Visit http://makewebsites.com/ for more ideas on making a website.


Bank Accounts For Teens

A. Saving Accounts

- Once you start making money you need somewhere to put it. If you

always want that money available for spending or investing then you

should get a good savings account.

- -UFB Direct is the savings account I use right now. They have a high

APY (annual percentage yield) of 5.2%. They also have a no minimum

deposit amount and you get a free Mastercard Debit Card for signing up.

If your under 18 you can open up a High Yield Money Market Savings

account thru the mail with this form:

http://www.ufbdirect.com/nibssi_unionfed/forms/apps/ufbdirect.pdf .

For more information about the account you can go to:

http://www.ufbdirect.com/ufbdirect/rates.asp .

- If you dont want an account at UFB Direct you can open a savings

account at Independence Bank. They have a Kids Freedom Savings

Account that has an APY of 5.0%. The minimum balance to open an

account here is $50. Go here: http://www.independence-

bank.net/PBanking/Kids-Freedom-Account.html for more info.


B. Checking Accounts

- If your 13-18 years old you can open a checking account at First Edition

Community Credit Union. Heres a list of some of the features that they

have:-Overdraft protection of up to $100; -FREE ATM or Debit Card ; -No monthly service

fee ; -First order of 25 checks FREE ; -At age 18, young adults may apply for a line of credit or

share secured loan ; -Easy Access to Account through Touch Tone Teller ;-Internet Home

Banking . To sign up, go to

https://www.firsteditionccu.org/community/checking.html at scroll down to

teen checking.

- For ages 15-18 you can open a Cosmic Teen Checking account from

Velocity. The Cosmic Teen account charges no monthly service charge and

requires no minimum balance. The only requirement is that a parent be a

joint owner of the account. If you would like more information you can go

here: https://www.velocitycu.com/accounts_checking.html and scroll down

to the bottom where it says Cosmic Teen Checking.


C. Credit Cards

-Credit cards are a great way to learn about money if used responsibly.

They can build you credit score and give you a better chance for getting a

loan from the bank.

- This is the only place Ive seen where you can be less than 18 to get a

credit card. Its called the U.S. Bank Young Adult Visa Card. With this

credit card you can start building your credit score. Heres the link for the

website:

http://www.usbank.com/cgi_w/cfm/creditcards/young_adult/young_adult_v

isa.cfm .

If you use the card at least one time per year you pay no annual fee. A co-

signer is required. They have no annual membership fees with at least one

purchase a year. Free Online Account Access is also available.


What to Do With Your Money

Once you make around $2,000+ I suggest that you start buying and reading

financial books. Some good ones to read are the book series Rich Dad by

Robert Kiyosaki. You can see these books at www.richdad.com.

Another way to make more money is buying vending machines (coke,

candy, whatever). Put the vending machine in a popular location (with

permission) and watch the cash come in! A good site to buy vending

machines from is http://www.1800vending.com/moneymaker.html.

You can also buy CDs with a custodial account. Most CDs have an

APY (Annual Percentage Yield) of 5%+. I would not recommend investing

in stocks until your 18 or older.

One last option is buying real estate. Most banks wont give a loan to

a kid but if you find a good deal on a piece of property, you can usually find

ones that do.

I hope you learned a lot from reading this eBook. If you have any questions

or comments, email me at [email protected] . Thanks for buying this

eBook.


TheRichTeens - How Teenagers Can Make Money

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