Making Money vs. Saving Money

My previous post have been about how to make money as a minor, but that's only half the game. You have to know how to keep it, too. That's why you don't want to be an idiot with your money. Especially at our age, we're always out to impress people. Well, impressing people by buying a bunch of junk is not impressive it's stupid.

I was brought up to be smart with my money. Save it. Invest it. Buy only what I totally must have. I'll admit sometimes that means a thing of slime at the school store.

I had a recent experience where someone tried to impress me with their money. Actually, their parents money. Which is really hilarious. But whatever.

In situations like that I just say, cool.

What I mean to say - but right now I'm trying to limit my enemies - is that I don't really care.

My family lives a lifestyle where we don't consume more than we need.

And that in a nutshell is how you have money. No matter how much you make, if you blow it all away like a jerk, you'll have nothing.

Having money wins!

Musical Talent for Hire

It's getting to be that time of year when people are planning holiday parties. Why not have them hire you to play at their holiday party? Do you play an instrument? Perhaps one that travels well like a violin, cello or clarinet.

My family has a big party after Thanksgiving dinner. We sing Christmas carols - everyone gets really into it. Seriously, you can hear jingle bells halfway down the street.

I don't know anyone else who has a party quite like this because everyone I know is attending my party. That's why if you're going to make money playing your instrument at someone else's holiday party, sometimes you need to plant the idea in other people's head.

I'm not saying send out a demo tape or anything but it is an idea. You could pass out a flyer in your neighborhood or just use word-of-mouth to let people know you're available.

Now is a great time to put out the feelers so let everyone know your instrument, the songs you can play and how much you charge.

How to get your working papers

There are ways to get "real jobs" as a Minor. In order to do this you must have working papers. The details of working papers depend on what state you live in. You can do a simple search under the name of your state.

Here's what I found for New York State:

Facts for Teens under 18

In NYS, anyone under 18 (minors) must show an employment certificate before they may begin work. Many people call this “working papers." The rule covers:

• High school graduates
• Minors who work for their parents
• Minors who do industrial homework

School officials issue all working papers, except for child performer permits.

In New York State  you can get your working papers in between ages 14 and 17. Just because you have working papers doesn't mean you can work whenever you want.

  Here are some of the regulations I found on working hours for minors:

The hours that minors can work depend on age, the type of work, and whether the minor is attending school. New York State has one of the strictest child labor laws in the country. The law limits the number of hours that minors under 18 may work when school is in session. To work between 10 PM and midnight on a day before a school day, 16- and 17-year olds need written permission from a parent or guardian and a certificate of satisfactory academic standing from their school.

Minors of any age may not work during school hours, unless they have graduated or withdrawn from school.Home-schooled children may not work during the hours of the local public school.

During weeks when school is in session, minors 14- and 15-years-old are limited to the following hours in most occupations:

• More than 3 hours on any school day
• More than 8 hours on a Saturday or a non-school day
• More than 18 hours in any week
• More than 6 days in any week

For more specific  information you can go to: www.labor.ny.gov

How to make money refurnishing furniture

I have a lot of experience refurbishing furniture and selling it at consignment shops. The first piece I've ever made money off of was a small drop leaf table. I saw it near a neighbors garbage can and ask them if they were going to throw it out. They said yes.

Score!

 I got my Dollie and wheeled it home. I painted the bottom and sanded and refinished the top. I spent a couple days and a couple dollars getting it done.

If you want to sell refurbished furniture at a consignment shop the first thing you want to do is research the consignment shops in your area. Consignment shops can be junky or very nice. You have to do the research.

I found a consignment shop in a nice area that sold their furniture for reasonable prices.

In the end I made $106 in cash on the table I got for free.

Warren Buffett's Investing Checklist: Part 1

This is the first of a four-part series onWarren Buffett's checklist before he invests in Company.

Principle number one
You must understand the company and what they do.

This means you can't invest in company just because it's popular. You can't invest just because you think it's going to go up. You can't invests  because someone really recommends it. You have to understand what they do.

Warren Buffett invests in companies like Dairy Queen and Coke a Cola because he understands the enjoyment of ice cream and pop. That seems pretty simple doesn't it?

What companies products do you understand ?

How to build a Minor Resume

Part of getting any job is first proving that you're qualified. In these parts we do it with the resume. But How does a Minor have a resume? You haven't been to college and you haven't had a real job.

But you probably have these things you can put on your resume:

1. References. Shirley you know An adult that would recommend you. Approach these people and ask them if you can use them as a reference. Or collect quotes about your work, for instance, "Mr. Money Minor is helpful and polite."

2. Previous experience. Just because someone doesn't hire you to do this job doesn't mean you don't have any experience. Do you have a photo or a complete project that you could show of previous work? There is nothing wrong with adding images to your resume.

3. Skills. Brainstorm a list of things you know how to do that  relate to the job you want to get.

Here is something fun! Have you heard of DIY.org? This is a site where you practice skills and earn badges. Here is a clip from their site.

Welcome to DIY! Do challenges, share what you make, and earn Skill patches!

Download the App, Join, or Sign In

This site is very fun and you can use it to prove and promote your skills.

Rock on money minors!

Cash In on Your Photography

Last weak at camp I met a girl who wanted to buy a Canon camera. I told her she should make money off her photography so she could earn enough money to buy a new camera.
She said okay with the enthusiasm of a slug. So I am here to offer ideas on how this can be realistically done.

So, nonbelievers and Money Minors, here's how you can make money off your photography:

1. You could ask friends, family, neighbors, and classmates if you could take pictures of them for a small fee (you're not famous yet). This could be for Christmas cards, graduations, family portraits, or birthdays.

2. You could take product photos for people who are trying to sell stuff. Everyone knows that junky photos kill a sale or at least cause you to get much less for what you are selling. To be good at photographing products you're going to want to make a light box. Here's a link on how to make your own light box for photography.

3. If you just like to take random pictures, you could try to sell them through a stock photography site like http://istockphoto.com. You'll need an adult to sign you up, but it can still work.

If you love photography, tell me in the comments section what you photograph and if you ever sell your pictures!

Create Your Own Board Game

Isn't it every kid's dream to invent a board game? Don't you want to be the next Milton Bradley? My younger brother took his Go Fish cards and invented his own game called "Dead Meat." We have been playing this game for years, but are yet to make money off his idea.

Why? Because he has not tried. That can be worked on.

How to Make Money From Your Board Game Idea:

1. You could create the game and charge people to play it. Kind of like renting it out.
2. Make the game and sell it - you could sell it to your friends, on Craigslist, eBay, at a craft show or flea market. This is a great way to test your idea.
3. Pitch your idea to a publisher or board game company. First, you'll need to send them a letter describing your game. If you made lots of sales on steps 1 & 2 above, highlight that in your letter.

Here is a sample submission page from a board game publisher...

YES! We'd love to see your game idea

The kinds of games we're looking for are:

• Stand alone, non-collectible card or board games (expandable is fine)
• Simple components (e.g. chips, dice, pawns)--nothing electronic, no custom molding
• Not dependent upon licensing (e.g. specific book or TV character)

Right now we're focused on "Euro" games, but would certainly consider simple war games that could be marketed to a mainstream audience.

The best games take several revisions or even overhauls, but come out of it stronger. Depending on the development and polishing needed (and how serious/elaborate the game is), new games could be published as soon as 2014. As we ramp up our production, we expect the turnaround time to go down.

Please read this Game Submission Letter and then send an email toideas@cambridgegames.com.

I hope this gets the creative money ideas flowing! 

Be a Minor Model

 The first job I ever had was modeling for a Fisher-Price photo shoot. I was 7 months old. They dressed me in a green outfit and wanted me to hold a red block. I wanted to hold the green block. Something about green has always been attractive to me. My photo was not put on the box but I still got $25.

This me and my mom and what I used my $25 to buy.

You may not live near Fisher-Price, but you might live near some other company that sells kid stuff. They are always looking for new faces. Usually you just need to send a photo of yourself with a description of your age, height, weight, hair color - things like that.

You could even do a search for commercial photographers in your area. They would take pictures for local businesses and may need your face to complete their shoot. You never know.

Welcome to Mr. Money Minor

Today is day one of Mr. Money Minor. I am creating this blog because I came up empty when I searched for a blog dedicated to kids making money on their own. This summer I have been racking my brain on how I could make money with out a job. See the problem is I am 10 years old. I can't exactly walk into Starbucks and get a job.

In the1930s, my grandfather was a caddy at a Country club. Every time his employer asked for his working papers he ran away. Shenanigans like that won't work these days!

That 's why, Money Minors, we need to get creative. Are you with me?

I am digging for good stock choices, services that us kids can provide and stuff you can make and sell.

 
I look forward to creating a Minors Mastermind with you!