NEW YORK (CBSNewYork) – With the school year winding down, parents are trying to figure out how to keep their kids busy this summer.

One way to do that: Get a job!

Financial adviser author Chris Carosa joined CBS2’s Cindy Hsu to tell us why side hustles aren’t just for adults.

Some simple starting points include:

  • Explore interests and develop hobbies
  • Develop hobby into a business
  • Solve a personal problem
  • Test the audience’s potential interest
  • Test the market

Common summer jobs for kids includes:

  • Babysitting
  • Lawn mowing
  • House sitting
  • Pet sitting/walking
  • Landscape maintenance

Uncommon ideas for young entrepreneurs also include:

  • Organize the messy garage/shed
  • Empty nest cleaning
  • Sell used treasures on ebay
  • Monetize a YouTube channel
  • Act as someone’s social media manager

Tax benefits for kids can include:

  • Won’t have to pay Uncle Sam
  • May not have to pay payroll taxes
  • Roth version of a child ira

For more ideas, check out Carosa’s book “Cradle to Retirement: The Child IRA,” and see his website, ChildIRA.com.

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