Don't Break the Bank: A Student's Guide to Managing Money by Peterson's Read Free Book Online Page B

September 2011)

    Car Wash—Going to the Car Wash, Yeah!
    A car wash offers many of the same pros and cons as yard work (at least, if you are working for an outdoor car wash). It’s definitely hard work, but you will get to be outdoors in nice weather. Outdoor car washes are seasonal businesses, though, since they are often closed during the coldest months. So this may not be a good source of year-round work.

    Things to Consider with a Part-Time Job
      
       Tip: Don’t limit yourself to one part-time job or type of job. You may need to piece together a few gigs in order to get a decent amount of cash in your pocket each week. For example, maybe you can babysit one or two nights a week, mow a few lawns on weekends, and run some errands occasionally in between.
    If you are in high school, visit your guidance office to inquire about working papers and whether you will need them (the laws vary from state to state). There are also many laws in place that limit the number of hours and conditions in which teenagers can work, so be sure to know about what your employers can and cannot ask, and whether you will even be allowed to do the jobs you are considering. For example, construction and other hard labor jobs, jobs with large machines and blades, and any jobs that involve being around alcohol are often off-limits for teens.
    Going to school and holding a job at the same time can be a great way to learn effective time management, but bear in mind that school needs to take priority. You need to do well in school in order to either continue your education at college or get a good start on a career.
“I started working when I was 15, doing pickup babysitting jobs, lawn jobs, and then waitressing at the local diner on the weekends. This meant that I always had my own money and was not beholden to anyone. But as the pressure from school and extracurricular activities increased, I found myself stretched a little too thin. I asked my mom for advice, and she told me something that I think still rings true for anyone of that age. She said, “School is your job.” Though it sounded glib and tacky at the time, it has rung true time and again throughout college and in the few years beyond. If I had let school suffer for the sake of earning a few dollars, I would not have done well in school, and would not have learned the skills that inform the degree that I use everyday in the job that I got because of my educational background. I held work-study jobs all through college, which gave me discretionary funds, but also forced me to focus because I had to manage my time most efficiently in order to make room for both school and work. But if I had not treated school as seriously as I treated my jobs, I would not have been able to get the good job—with benefits—that I have today.”
~ Railey Savage, age 20-something

    Getting Paid (and Being Prepared for Your First Paycheck)
    Getting your very first paycheck can be an exciting moment—and it can also be a big shock, as the amount you actually get may be less than what you expected.
    When getting the stub from your first paycheck, do not be alarmed by how much money seems to be missing. While it may seem totally unfair, money being deducted from paychecks for things like Social Security and Medicare and taxes, withholding is a required part of work. Depending on your situation and how much money you earn, you or your parents may get some or all of the taxes that were withheld back in the form of a refund from the government when you file a tax return at the end of the year.
    If at all possible, it is best to have your paychecks directly deposited in the bank, eliminating the possibility of losing a check, forgetting to deposit it, or giving in to temptation and simply cashing it, rather than depositing it and building up your savings. Many banks also offer special perks if you use direct deposit because it’s a sign that you are a guaranteed customer who will be using that