When should a teenager get their first job?
![Teenager working behind the till in a supermarket at their first job.](https://cdn.mozo.com.au/images/atwood/11764/teenager-working-supermarket.jpg)
Whether it’s to pay the bills or to follow lifelong career ambitions, we all need to learn how to earn cash.
The best age for teens to enter the workforce depends on a combination of factors. This includes legal age requirements, the types of jobs available where you live and, most importantly, your child’s personality and enthusiasm to start making their own money.
To tick off the legal side of things, parents should check working age requirements in their state or territory. This differs between industries, roles and working hours, but the starting age generally sits somewhere between 12 and 15, with some younger workers requiring special permits.
Whenever they are ready, a part-time job or apprenticeship can teach young'uns fantastic social and economic skills.
Valuable lessons teenagers can learn at their first job
- A lot of time goes into big buys
Earning pocket money for mowing lawns and washing cars is one thing, but receiving an hourly wage for your efforts is a whole other ballgame. It can be a real confidence boost to see that your time is valued by society, and a good lesson in understanding how many hours work goes into big purchases like game consoles, sports equipment or a first car.
- Tax and super are complicated but necessary
Australians who are under 18 years of age and earn less than $18,200 per year don’t need a tax file (TFN) number to work. Similarly, employers aren’t required to pay under 18s superannuation unless they work more than 30 hours a week and are paid $450 or more (before tax) each month. However, setting up a TFN and super fund early will help young workers understand and manage these processes with ease in the future.
- Managing your time and relationships well is essential
Once kids enter the workforce, the structures of home and school aren’t there to rely on and they become independently accountable for their time and actions. Learning how to manage this new kind of responsibility and work with colleagues and business owners will be valuable when applying for and succeeding in future roles, and hopefully instil more accountability in their other kid duties (like dish-washing and homework-doing).
- Healthy savings habits will take you a long way
It can be hard to break bad habits, so kids should develop good saving and spending priorities early on in their working lives. By opening a savings account alongside their everyday spending account, young workers can learn about interest rates and money management. Then they can set goals for certain purchases or even start contributing to an emergency fund, if they’re feeling frugal.
Check out a couple of kids savings accounts below for potential pots where your little worker can store their hoard.
Compare kids savings accounts
-
Kids Bonus Saver
5.55% p.a. (for $0 to $5,556)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Under 18
Minimum $5 monthly deposit and no withdrawals to earn bonus interest each month.
A dedicated high-interest savings account exclusively for under-18 members, designed to help kids save up for something they want. Internet banking and Mobile Banking App. Deposit a minimum of $5 per month (pocket money!) without making a withdrawal and you will earn high bonus interest on balances up to $5,555. Balances over $5,555 will earn only the base interest rate of 0.05% p.a
CompareCompareKids Bonus Saver
A dedicated high-interest savings account exclusively for under-18 members, designed to help kids save up for something they want. Internet banking and Mobile Banking App. Deposit a minimum of $5 per month (pocket money!) without making a withdrawal and you will earn high bonus interest on balances up to $5,555. Balances over $5,555 will earn only the base interest rate of 0.05% p.a
- Maximum rate
- 5.55% p.a. (for $0 to $5,556)
- standard interest rate
- 0.05% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- ages
- Under 18
- conditions
- Minimum $5 monthly deposit and no withdrawals to earn bonus interest each month.
- account fee
- -
- minimum balance
- $0.00
- access
- BPay, Internet banking, Bank@Post
Read our Mozo Review to learn more about the First Option Bank Kids Bonus Saver
-
Ziggy Kids Saver
3.01% p.a. (for $0 and over)
0.01% p.a.(for $0 and over)
Yes up to $250,000
Under 16
Minimum one deposit and no withdrawals in the month
CompareCompareZiggy Kids Saver
- Maximum rate
- 3.01% p.a. (for $0 and over)
- standard interest rate
- 0.01% p.a.(for $0 and over)
- Govt Deposit Guarantee
- Yes up to $250,000
- ages
- Under 16
- conditions
- Minimum one deposit and no withdrawals in the month
- account fee
- $0.00
- minimum balance
- $0.00
- access
- BPay, Branch access, Phone banking, Internet banking
Read our Mozo Review to learn more about the Auswide Bank Ziggy Kids Saver
-
Scoot Super Saver
No Current Offer
2.75% p.a.(for $0 to $50,000)
Yes up to $250,000
Up to 12
CompareCompareScoot Super Saver
- Maximum rate
- No Current Offer
- standard interest rate
- 2.75% p.a.(for $0 to $50,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- ages
- Up to 12
- conditions
- n/a
- account fee
- $0.00
- minimum balance
- $0.00
- access
- ATM, EFTPOS, Branch access, Phone banking, Internet banking
Read our Mozo Review to learn more about the BCU Bank Scoot Super Saver
-
Mighty Saver Account
No Current Offer
5.00% p.a.(for $0 to $20,000)
Yes up to $250,000
Under 18
CompareCompareMighty Saver Account
- Maximum rate
- No Current Offer
- standard interest rate
- 5.00% p.a.(for $0 to $20,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- ages
- Under 18
- conditions
- n/a
- account fee
- $0.00
- minimum balance
- $0.00
- access
- Branch access, Phone banking, Internet banking, Bank@Post
Read our Mozo Review to learn more about the UniBank Mighty Saver Account
-
Mighty Saver Account
No Current Offer
5.00% p.a.(for $0 to $20,000)
Yes up to $250,000
Under 18
CompareCompareMighty Saver Account
- Maximum rate
- No Current Offer
- standard interest rate
- 5.00% p.a.(for $0 to $20,000)
- Govt Deposit Guarantee
- Yes up to $250,000
- ages
- Under 18
- conditions
- n/a
- account fee
- $0.00
- minimum balance
- $0.00
- access
- Branch access, Phone banking, Internet banking, Bank@Post
Read our Mozo Review to learn more about the Teachers Mutual Bank Mighty Saver Account
Your selected savings accounts
Your selected savings accounts
Your selected savings accounts
Your selected savings accounts
Your selected savings accounts
^See information about the Mozo Experts Choice Savings Account Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.