Summer is a great time for teens to earn money, build confidence, and create smart financial habits that can last for years. Whether you want to save for your first car, concert tickets, college, or just have extra spending money, a summer job can help you move closer to your goals.
In Maryland, many teens can start working as early as age 14. And with part time summer hours, those paychecks can add up faster than you think.
The best part? Learning how to manage your money now can help you build smart habits that last long after summer ends.
Choose something meaningful to save for
Work is more fun (and meaningful) when you’re working towards a goal you care about.
- Saving for something big, like a car or college.
- Having money for fun with friends or to help your family.
- Getting work experience, with money as a nice extra.
When you know where your money is going, it becomes easier to stay motivated.
Add up how much you need to earn
With your goal in mind, map out how much money you’ll need.
- If you’re saving for a big purchase, find out how much it costs plus ongoing expenses.
- If you want spending money that lasts all year, multiply planned weekly spending by 52.
- If you’re working for experience, you can budget without a dollar amount in mind.
Knowing your target gives your summer job a clear direction.
Build a budget that supports your goals
A budget is simply a plan for your money. Think of it like a GPS for your paycheck that helps keep your spending and saving on track.
Here are a few simple ways teens can budget their money.
|
Budgeting approach |
How it works |
Best for |
What it can look like |
|
Save most of it |
Put nearly all of your paycheck into savings and keep only a small amount for spending. |
Saving for a big goal like a car, trip, or college expenses. |
Save 90%, spend 10%. |
|
Save first |
Move money into savings as soon as you get paid, then use the rest for spending. |
Building a steady savings habit while still enjoying your money. |
Save 70%, spend 30%. |
|
Split your money into categories |
Divide your money between needs, wants, and savings. |
Staying balanced and learning how to manage money over time. |
50% needs, 30% wants, 20% savings. |
Explore ways teens can make money
There are plenty of ways teens can make money during the summer in Maryland. Some jobs start at age 14, while others may come through neighbors, family friends, or local programs.
Lifeguarding and summer camp
Pools and summer camps often hire teens (15 and up for lifeguarding). You typically need first aid and/or lifeguard certification.
Babysitting, nannying, or tutoring
Babysitting can be an option for younger teens (13 and up). The Red Cross offers babysitting classes starting at age 11.
Food service and retail
Restaurants, grocery stores, and retail shops often hire teens for summer positions.
Yard work and outdoor jobs
If you know how to mow a lawn, getting a job can be as easy as knocking on a neighbor’s door. It’s also a chance to practice running your own business.
Internships and youth programs
Some Maryland counties and cities offer paid internships or youth employment programs for teens. Check your local government website or review regional job boards for possible opportunities.
Experiment with managing your money
Testing out different money management systems can help you decide what fits you best. Here’s three popular options for teens.
- The envelope system: Set aside one envelope for every item in your budget, and fill it with cash as you earn. Some apps offer a secure, digital version of this.
- Automatic transfers: Set up transfers to move money into a savings account so you don’t spend by accident.
- Money management apps: Apps like Greenlight can help teens track spending, set savings goals, and practice managing money with parental guidance.
Start a monthly money check in
Checking in on your money regularly helps you build confidence and stronger habits. It’s good to check in at least once a month.
- Compare your budget to your actual spending and saving.
- Make notes about what went well and what you’d like to adjust in the future. Don’t worry too much if things didn’t go as planned. The more you practice, the more you’ll learn.
- Learn more using free resources to hone your money management skills.
- Celebrate making a plan and continue to check in on your progress.
Get help when you need it
If something doesn’t look right with your account or paycheck, support is available to help you fix it quickly.
- If you lose your debit card, contact your financial institution right away. They can help you protect your money by shutting down the lost card and getting you a new card.
- If you see anything odd, like charges you don’t remember making, contact your financial institution as soon as you notice.
- If you’re not getting paid correctly, the Maryland Department of Labor can be a resource.
This summer, celebrate your financial growth
This summer is a great chance to earn money, practice smart saving habits, and build confidence with money. Our Greenlight debit card and app, teen checking account, and financial education resources can help you take the next step.
Explore our teen banking services today and see how our credit union can support your financial goals.
