There comes a time in almost every teen’s life when their parents decide that they don’t want to give them allowance anymore. While you may feel that this is totally unfair, they are actually doing you a big favor. The sooner that you take care of your own money, the better you’ll be with it.
There are some people who don’t take care of their own money until they are out of college and have all sorts of debt. Those people usually stay in debt for a good portion of their life, if not for the rest of it. To avoid this kind of folly, it is a good idea to learn how to handle your money before you ever even become an adult.
This is actually easier than it sounds. If you are in high school and you get a job of your own, you will quickly learn how much your money is actually worth. Once you work several hours for $15, you won’t be so quick to spend it on that compact disc you’ve been eyeing.
Not all of your learning involving money should be trial and error, though. It’s good to learn a few things before you even start working so that you are much better prepared. The biggest thing that you should be aware of before you start that job is to know a bit about the first employment contract that you’ll sign. Pretty much all companies will require that you sign an employment contract. Your first employment contract will list all of the things pertaining to your work their, including your wages and benefits.
It is very important to read this document before signing it. The main reason is because you may end up agreeing to something that you wouldn’t normally agree to. Some people, when encountered with their very first employment contract, just sign it without every reading it. They often come to regret this action because it’ll turn out that they may not be getting everything they promise.
Some shadier employers will take advantage of their teenaged employees by promising all sorts of things like regular raises, but they don’t put it in the first employment contract. If they don’t they can always say that they never offered that to begin with. Then you are left with problems, for sure.
Another good thing to know about your first employment contract, and any subsequent contracts thereafter, is that they are negotiable. If your new employer promises that you can get health insurance after six months of working there, make sure that it is listed in your first employment contract. If it isn’t request that it get added. Most employers will accommodate you and write up a new one that includes what they promised you.