1. Welcome to Kids and Summer Jobs! This is one in a series of broadcasts by the Community
Development Education team with University of Wyoming Extension. You can find our
other broadcast recordings and the schedule for future sessions on our website at
www.uwyo.edu/ces/money/.
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2. A web search reveals many online sources for summer jobs and home businesses for kids.
Here are a few that I found that might be productive. I’ll share these slides in a file at the
end of the broadcast, so you can get all this information before we finish.
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3. Here are some other recommended websites (Summer Jobs+, USAjobs.gov,
CareerOneStop, Snagajob, Care.com, Teens4Hire, Coolworks.com) – you can do a Google
search to locate them.
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4. There are lots of other sources of job information beyond the Internet. Try guidance and
career offices, the local job service office, newspaper and radio ads, and have your child
talk to everyone they or you can think of. Tell them your son or daughter is looking for a
job. However, if you find a possible opening, you should have your child make the contact
and apply for the job. Don’t do it for them – they need to learn the skill, plus you put them
in an awkward situation if you are talking for them.
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5. Or, your child could start their own business. Even if the business is not a big monetary
success, the child can learn many valuable lessons about business and finance that will
apply later in life. Help them calculate their start‐up costs, inventory and equipment
needed, anticipated expenses and the amount needed to charge customers to make a
profit. Talk to them about what services there is a market for and how their skills might fit
the need.
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6. Many kids have an entrepreneurial spirit and do good with their own home‐based business.
In fact, some summer businesses have turned into full and profitable careers. Help them
examine their interests and how they might fit those interests into a simple home business.
Even if the business they come up with is not an exact fit with their dreams, it will help
them learn about and test themselves. However, be sure to mix their dreams with large
amounts of your understanding of reality – don’t let them start on something you know is
impossible or will be a complete failure. That will only discourage them. They will need
your help all along the way.
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7. So, what should your child do if he or she decides to search for a job outside your home?
They should prepare for a job search just like you would.
• Prepare a simple resume, listing their interests, skills, and experience.
• Develop a reference list. If they have no experience, they can ask friends and
acquaintances for a character reference. If they have worked for someone, they should
ask that person for an employment reference. They should always ask permission before
listing someone as a reference.
• Spend time studying databases, websites, ads and other lists.
• Start this process early. Often college students pick up many of the jobs when they
return for the summer. Try to start before they get out of school and before other local
children start looking.
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8. • It’s always best to talk to a potential employer in person, face‐to‐face if possible, or at
least on the phone. Coach your child, but DON’T do it for them. They should follow up
the contact with a short call or card a few days after the interview, stating how much
they appreciated the chance to talk to the potential employer and to learn about their
business or needs. This is a good idea even if they don’t get a job.
• Conservative, neat, clean, and tidy will always win jobs over garish, loud, dirty, torn, or
immodest dress and makeup. Your child should appear at the interview early and with
all the paperwork needed.
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9. Neale Godfrey suggests starting children as young as 3 to 6 with what he calls Pay
Allowance Chores. At this age, children can start learning the value of work, how to
complete a task well, the rewards of doing a job, and how to handle money.
Jobs at this age start simple and are geared to the age and development level.
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10. • NEVER assign a job, even a simple one, without ample instruction and example. Then do
the job together with your son or daughter until they have it down. Even then, don’t
assume they have it perfect. You are training them for a lifetime. Stay close by, help
them as needed, correct them gently and with a smile when required, and assure that
they reach the satisfying conclusion of a job‐well‐done. And finish with lots of praise.
Money is its own reward, but properly completed jobs well praised will do much to form
life‐long attitudes of anticipation for doing good work.
• Start slow, with 2‐3 chores 3‐4 days a week and slowly increase their workload as they
get comfortable and the chores become a habit.
• Be sure to post a “Chore Chart” so each child is clear of their jobs and they and you can
see when they are to be done and when they are satisfactorily completed.
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11. Here’s an example of a chore chart with 3 jobs, 4 days per week.
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12. As children get older, their jobs can increase in difficulty and length.
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13. Start with a lighter load and add another chore periodically, without squeezing out time for
homework, socialization, and family time. Continue to use the “Chore Chart” so everyone is
clear on who is expected to do what and when it is done to satisfaction. Only then should
payment be made.
Children should not expect payment for what Godfrey calls being “Citizens of the
Household” – doing everyday things you expect a good citizen to do in your household,
such as doing their homework, getting good grades, proper hygiene, etc. On the other
hand, payment for chores should be tied to performance on the chore, not failure to be a
good “Household Citizen,” just as you are not docked in your pay check for your personal
behavior.
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14. By the time kids are 15‐16, Godfrey says they should be making their own money through
odd jobs for you or friends and neighbors. Odd jobs are jobs that go beyond their regular
chores. By now, chores should be a regular and expected part of their lifestyle – albeit they
should still be getting paid the agreed amount for doing them.
Of course, expectations for things like homework, household citizen duties, and regular
chores should remain in place. Then the child can turn to extra jobs to earn additional
money.
Provide your child with a list of possible jobs around home, both inside and outside, with
the accompanying payment amount that they can choose from. Beyond your own home,
suggest possible neighbors, friends, or relatives that would be acceptable possibilities to
ask for odd jobs.
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15. Pay your child at the same time each week, so they can expect it, just like you expect your
paycheck. Prepare ahead of time with the proper denominations, not just for the total, but
so the money can be divided properly into various categories. Discuss ahead how their
money will be divided – savings, college fund, spending money, major projects or
purchases, etc. Now is the time to start good money management habits like Pay Yourself
First, which is always setting aside 10‐20% in savings before any other expenses. This is a
habit that should continue into adult life.
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16. If you child find an outside job, they should be informed that their paycheck will be
significantly smaller then they might expect. Explain to them about payroll deductions for
income taxes, FICA (Social Security & Medicare), health insurance premiums, and other
possible deductions. Of course, the income tax deduction on their wages will be high, since
they are single and with no dependents.
They will be required to fill out an IRS W‐4 form to indicate how much should be withheld
from their paycheck. Go to the IRS website shown here and download the form and go over
it with them. Be aware that they can check an exemption from withholding if they expect
to make less than $5,950. However, if they will be close to the limit, it may be best to allow
withholding, as they would have to pay the taxes themselves if they go over this amount,
from their earnings which may have already have been spent.
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17. If you have a family business and hire your child as an employee, you can deduct their
wages and avoid some of the payroll taxes. Check with the IRS on the details.
If your child is working at a job where they receive tips, explain they will need to report the
amount if it is over $20/month and their employer will need to withhold payroll taxes.
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18. If your child starts their own business, they will need to report earnings to the IRS if they
make over $400, and they will need to pay self‐employment taxes, even if they don’t earn
enough to pay income taxes. Self‐employment taxes cover Social Security and Medicare
and are presently 13.3%. When working for someone else, the employer pays half and half
is withheld from your paycheck.
Both the IRS and the Department of Labor have useful guides to help you in understanding
what you need to know about work and tax regulations and guidelines for your children.
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19. As we said earlier, saving needs to become a life‐long habit and should be started from the
very beginning. One reason the financial situation of the general American populous is so
unstable and tenuous is that savings by individuals and families is at an all‐time low. We
have grown up to believe the government will take care of us, and we now see that is not
always possible. Previous generations saved for what they needed and did without to get
something better later. The present generation wants it now and will go into
insurmountable debt to get it.
One of the last things on a child’s mind is retirement. I drew out my retirement share twice
when I was young because I thought I was changing careers and wouldn’t need it. Now,
retirement is suddenly near and I wish I had those seven years back in the system. Just like
savings, retirement planning should start early, as the Social Security and governmental
programs were never designed to provide an entire living income for retirees and we hear
warnings that Social Security has 20 years until bankruptcy.
Your child is as eligible as an adult to contribute up to $5000 into an IRA. Make it a Roth
IRA, which pays the earned investment income tax now, rather than later. You child should
be in a lower income tax bracket now then they will be when they cash in the IRA at
retirement.
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20. Here, and on the next slide, are references used to prepare this program.
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21. I will share the file containing these slides and speaker notes now, so that you can
download them to your computer.
OPEN FILE SHARING WINDOW AND SHARE FILE.
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22. If you have any questions or comments, feel free to type them in the chat box at this time
and we will do our best to address them. Thank you for your attendance today. You can go
to our website at www.uwyo.edu/ces/money/ to access a recording of this, and other past
programs, and to find future programs.
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