Profitt Report: Local teens finding value in summer work
For teenagers across the country, it’s a rite of passage: getting a summer job. As mid-Michigan high school students prepare for the end of the school year, many have already secured their warm weather work.
The youth labor force grew by 2.6 million last summer according to the Bureau of Labor Statistics.
For the last three summers, Sydney Hutchison has been honing her skills here at the Shamrock Dairy Bar in Bay City.
“My dad is an accountant, I invested it a lot in my savings account and the tip money we get is really good too,” she said.
Her paychecks will likely go to college and her tip money is her fun money to spend with friends. It sounds cliché but Mindy McIntosh with McIntosh and Associates in Freeland says these jobs are a critical time to find the value of a dollar.
“The latest new electronic, they should save up to buy that themselves, so they can put that away into their saving account and realize here's my day-to-day budgeting,” McIntosh said.
Today’s teenage wants and needs translate into adult necessities down the road.
“If we teach that foundation young and we build on smaller principles so to speak, smaller items, they need to worry about as kids, that can continue to build upon and they’re more conscious,” McIntosh said.
McIntosh said suggests at least 10 to 20 percent of your kids’ paycheck is saved.
According to the outplacement company Challenger, Gray and Christmas, Inc., teens might find opportunities opening up in transportation, hospitality and food service or construction.
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