Money Making Schemes

Nagesh answers:

Get a bank account. You will need your Mum or Dad to be on the account until you are 18. 🙂

Then, you connect your bank account to Paypal. That is a website that allows you to pay for things, or (very important) BE PAID by other people without sharing your bank account details. I buy things on EBay with it all the time.

Then, you ask your Mum and Dad if you can sell some stuff you own on EBay. You have to ask them, because they have paid for everything you own, pretty much, so they technically own it.

I have a friend who does this with car parts. He buys old cars, parts them out, and sells the parts to make far more than he paid for the old broken down car. You could sell your old stuff you aren’t using (kids clothes are great) or go to the op shops and buy stuff that you know you can sell. Kids clothing, especially if it is in good nick, or kids toys, are good ones. Have a look on EBay for similar stuff so you can get an idea of how much to charge. Then, you just sell stuff. People go crazy for baby stuff. Just be prepared to post it anywhere in Australia. Make your stuff nice and cheap, because it generates interest and you will get more bidders, who hopefully will drive up the price.

You should keep saving. Always try to save 10% of your income. That way you’ll always have some cash in an emergency. I invested $5000 at 16 and in ten years it was worth $19000. That was the deposit for my house. So don’t stop at the iPad mini. 🙂

Nagesh answers:

You could set up a summer business such as washing cars, washing animals, dog walking, or doing household chores for people for a small fee.

Nagesh answers:

Baby sitting, perhaps running errands for the Elderly or someone who needs help, cutting grass, news paper ”girl”,
and helping your Parents around the house. 🙂

Nagesh answers:

Here are some things I did last summer to earn money, when I was 11…
Weeded neighbors gardens
Babysat
Mothers helper
Took dogs for walks
Pet sitter
Plant Waterer (when people are away)
And Here are some things I didn’t do but you could do
If you have a garden, sell some veggies…it actually makes more than you think
Lemonade Stand (I know lame but i did it a few years ago and got like $40)
Tag Sale
Hope This Helped 🙂

Nagesh answers:

I was used to do job as a tutor in summer vacation, I think that would be better. Selling products on EBAY, I think that’s a good idea,just don’t give up,it is a promising job, although right now it is a little difficult to do business, but it would be getting easy to do business online in the near future.