Teaching teens to earn money

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PHOENIX (3TV/CBS 5) -

Summer is right around the corner. And for many teens, that means it's time for a summer job.

On Tuesday's Good Morning Arizona, we talked to an expert about how to get our teens ready to earn some money!

Author Dwayne Farnsworth wrote the book “Awesome at Work,” and is known as "America's young entrepreneur coach."

He says there are three mistakes to avoid when helping your kids find a summer job:

-The "Ben Franklin Blunder" - Letting your kids treat you like an ATM. “If we're trying to teach kids to earn money, don't give them money,” he told Scott Pasmore.

-"Trump Trap" - Not allowing your kids to work for someone else. “We should let them work for other people, and get that valuable experience,” he said.

-"Play-Station Problem" - Not helping your kids develop valuable skills. “It's easier to do a job than to teach a child ho, said Farnsworth. “But it's imperative.”

The main theme in each of the mistakes is not allowing your child to depend on any outside source to earn money. If your children are treating you like an ATM, have zero drive to work, or haven't developed valuable work skills, they may be on the path for an unsuccessful future.

But there are some answers!

Farnsworth's “EARN” Formula involves four factors:

-Energy – Teens need to show energy and enthusiasm.

-Ask – Ask for the job. Ask for information about the job.

-Ready – Teens need to be ready to interview.

-Network – Teens should tell their family and your network you are looking. “The best jobs are filled with network referrals,” he said.

For more information visit his website.

http://www.dwaynefarnsworth.com/

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