Today’s fantastic family finance article is:
Fewer and fewer students are holding down jobs while attending high school or college. That’s a shame.
Here are seven reasons part time work makes sense for your full time student:
- Better grades. Research has shown that part time work can actually improve grades. Working students are often motivated to study harder. They know firsthand what kind of job they don’t want after graduating.
- More effective time management. Kids with jobs are forced to allocate their time more efficiently. They also know the importance of showing up on time.
- Stronger job prospects. Working kids have more to put on their resume. They also develop realistic expectations of workplace requirements and norms of behavior. The maturity comes across in an interview.
- Less student debt. Working can defray everyday expenses and some college costs, like books. That translates to smaller student loans.
- Smarter spending. Kids tend to spend their own precious funds judiciously. Mom and Dad’s money? Not so much.
- Bursted bubbles. Minimum wage work environments don’t coddle students like parents and schools do. Working kids learn to deal with negative feedback.
- Tax free investing. A working teen with qualifying W-2 income is eligible to open a Roth IRA where funds can grow tax free for decades. Offer to match your teen’s contributions if you can. More info here.
The bottom line: part-time job work doesn’t interfere with school work. It often enhances it.
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