Need po financial advice for 16 y.o

[rosie37861]

Just as the title say, need ko po ng mga advice. Just for the record, I currently have zero money in my wallet, nor in my pocket. Though I have a savings account in USSC for about P4000 with the help of my mom(You cannot transact nor make profit with this in particular since this is a kid version card.) We consume P35k per month in total. A list of I think you should consider po:

1.) My mom runs a Sari-sari store with P5k monthly average profit(I think). I help her 4-5 hours a day.

2.) I don't have a G-cash account with zero Valid IDs

3.) School is coming to end, I want to make use of the upcoming summer vacation.

4.) I tried freelancing in upwork, online jobs ph, etc. I did find entry level jobs for illustration, Graphic design, and Manga-making, but it didn't really work out.

5.) I'm free most of the time, I mean, all I do is scroll youtube, read manga, read Light novels etc.

6.) I considered playing Axie Infinity, but I heard many recent bad news where prices are falling. I feel like I missed on a golden opportunity of playing it while it's in its golden age. On the other hand, I feel grateful that I dodged a bullet right there.

7.) I'm currently working in a project in regards to manga(it's an audition.) But I don't know if I'll win. Also, I want another source of income.

Also, I feel really pressured, for various reasons,

1.) The main being influenced by peers: Google says that the average age of getting your first job(part-time or full-time) is 16-18. I don't have one. I was coping hard and was thinking of searching people my age AND in Philippines(after all Job opportunities for minors here are really low, with very low income. Teen Americans could make 17$ an hour which is P850, more than the average engineers in Philippines could make.) Ok so I was saying, I went into into this subreddit, looking for people my age, and the first thing I found out is a 16 y.o making multi 7-figures. Bruh...... I feel behind rn. I'm probably being biased(cherry picking) right now, but I don't really care now. I want to burst the sht of my bubble and start investing

2.) I feel bad for my Mom(She's single). Although, we get 20k and 10k a month from my Mom's american boyfriend and my father(They're not annulled yet), respectively.

Thanks for reading.

 

[patdude832]

@rosie37861 Una sa lahat, stop comparing yourself to other people. Magkakaiba tayo ng pinagdadaanan sa buhay. Yung 16 y/o na pinagbabasehan mo most probably meron lang pang capital dahil sa magulang. Karamihan ng tao hindi afford yan. Ako mismo 28 na pero wala pa rin halos ipon, dahil breadwinner ako. Dagdag stress lang sa buhay pag cinompare mo sarili mo sa ibang tao. Focus ka na lang sa goal mo na tulungan nanay mo. And focus on upskilling din, para maging productive yung summer break mo

 

[rosie37861]

@patdude832 Salamat po kuya, prioritize ko muna siguro working out with my comparing habit.

 

[rocvisc17]

@rosie37861 Dont feel pressured by the “successful” young entrepreneurs you see online, many of them had a good head start with having a wealthy family. Those articles and posts are cherry picked, i mean, who would make an article about broke kids right? Thats not newsworthy.

Also, $17/hr in US is way above minimum wage. I think the average across US is somewhere around $10/hr for works in fast food, grocery, etc. they have a way higher cost of living there compared to here.

Im a 22 college kid who still gets allowances from family, i never worked outside the family business, however much i wanted to.

Youre still young, i suggest you help you mother improve the store. Maybe suggest to expand it to a mini grocery if the budget allows. Invest in yourself, im sure you are a talented kid, but dont think you have reached the peak, there is always room for improvement, work on those.

Having that said, youre lucky you can think like that at your age, when i was your age, all i can think about is playing computer games. Lol. You’re on the right path. Life is not a race, remember that.

 

[rosie37861]

@rocvisc17

Life is not a race

Hahaha, Dati lagi ko po naririnig yan, ngayon ko lang po na realize. Thank you sm.

 

[lexy2019]

@rocvisc17 This hahaha when i was 16yrs old, i just focused on playing league and playing with my pet with halong hanap ng crush HAHAHA

Im no way rich. Btw haha baon ko that time is 50php per day lmao

 

[soundmind88]

@rosie37861 Hi OP, the last half of your post reminds me somehow of the concept called "survivorship bias", which refers to our tendency to focus on survivors or successes, instead of looking at the bigger picture that includes non-survivors and failures.

While comparing ourselves to others can have both positive and negative impacts to our psyche, be careful not to dwell too much on the negatives. I bet you are not far behind other kids your age, even in the global sense (not just US). Yes, there are 16 year-olds making 7 figures but they are the exceptions, not the norm. You help your mother run her sari-sari store 4-5 hours a day--that's already commendable and worthy of emulation. Spend your free time this summer more on upgrading your skill set and less on comparing yourself with others

 

[rosie37861]

@soundmind88 Thank you I'll do just that! Really been struggling with this competitive and jealous attitude, even I was young.

 

[lexy2019]

@rosie37861 College grad na ako pero i still have that competitive and jealous attitude, but you know what? That helped me in gaining many money in the long run. Kasi its my biggest motivation and also you just need to learn how to transfer your flaws into one of your biggest strengths!

Goodluck Op. Enjoy your time as a teenager tho mahirap kasi Online classes pa pero sabi nga nila, isang beses ka lng magiging bata

 

[rocvisc17]

@lexy2019 hindi ba “minsan lang sila bata” yun? yung sa song diba? XD

 

[lexy2019]

@rocvisc17 Dko gets xD

 

[rocvisc17]

@lexy2019 yung sa song Habang bata pa, sa damuhan maghabulan, magtampisaw sa ulan … dahil minsan lang sila bata

its ad song from ages ago here. Lol, am i that old na ba?

 

[goodman528]

@rosie37861 Stories about kids your age making millions are probably 98% bullshit, the fact that you’re on this sub at your age and learning puts you LIGHTYEARS ahead of so many people even older than you

 

[faithtees]

@rosie37861 16 ka pa lang, wag ka dumagsag sa child labor, kung nag-aaral ka man yun ang unahin but considering you know how to draw. I think that will be your biggest investment. Practice it, create fanarts, mini-comics don’t pressure yourself into earning money kasi bata ka pa naman, you need to invest in skills, networks and knowledge.

 

[resjudicata]

@rosie37861 Thanks for sharing, OP. Tingin ko try and try lang dun sa freelancing... Apply lang nang apply, as in i-max mo yung pwedeng isend na application every day (may limit yan ang alam ko.) May makukuha ka rin dyan... Kuha ka lang ng experience and build ka ng portfolio, mga nagawa mo from previous clients, mga nagawa mo on your free time, etc. Tapos i-attach mo yung portfolio mo sa application.

May nasimulan ka na dyan. Ituloy mo na lang.

 

[rosie37861]

@resjudicata Thank you very much po, I will try. Ano po yung website or app na lagi kayong nag freefreelance? Prefered ko po kasi upwork, may mga entry level jobs tsaka di na kailangan ng degree. Pero, 39 connects nalang po natitira.

 

[resjudicata]

@rosie37861 Yun nga lang downside ng upwork pero make the most out of it, gandahan mo cover letter mo. Next is sa onlinejobs.ph, i-max mo yung 10.. then after that, try mo sa FB groups. Meron din nga agencies, try applying there.. like Cyberbacker, they accept with no experience.

 

[styrphid]

@rosie37861 OP I applaud you for your initiative and effort to help your mother and be more financially literate. Regarding your list:

1. Pwede ka atang magpaverify ng Gcash account using a Student ID even if you're a minor. Though hindi ako sure kung pwedeng magcashout/in. This will be important kung magwowork ka as a freelancer since wala kang bank account. You can use Wise/Paypal to GCash.
2. In my high school days, merong program ang local municipality namin na summer jobs for high school students. Ewan ko lang kung meron pa ngayon or sa municipality nyo.
3. Sadly, it will be hard for you to work online when you're below 18. I'm guessing you lied in your Upwork/OLJ profile since they both require for you to be at least 18. Kailangan mong iconnect ang profile mo to a bank account (with same name as your profile) kaya baka mahirapan kang magclaim kahit pa makahanap ka nang client. Sa OLJ din may ID Proof system. Your best bet online ay direct client from FB, Twitter, Reddit, etc. Sa Reddit you can check r/forhire, or r/slavelabour for a start.
4. You can check r/beermoney, r/beermoneyph, or r/beermoneyglobal if you have spare time. Hindi consistent, hindi reliable, at mababa lang din ang payout pero pwede na din.

Comparing yourself to others is not necessarily a bad thing as long as you don't beat yourself up for not being like them but just use them as inspiration.

Despite the US being 3x our population, they have more job supply, hence teens are needed and can work despite their age. Sa Pilipinas, mataas ang unemployment rate at konti lang din ang trabaho kaya kahit fastfood jobs ay madaming gustong magtrabaho. Sa US din, hourly ang wage and some jobs offer short shifts; highschool teens can just work for like 4 hours a day, 3 days a week. Sa Pilipinas, monthly, meaning 8 hours a day, 5 days a week kaya hindi masyadong flexible ang work schedule to make it possible for students to work.

Tama ka na sa outsourced jobs like software engineering, VA, digital artists ang mataas ang sweldo at underpaid masyado ang local jobs. freecodecamp is a good start. The key is consistency; 2 hrs a day learning is better than 8 straight hrs for twice a week.

You've mentioned that you've aced your classes, just continue that and apply for scholarships before you enter college. You can apply to government ones like DOST (7.5k/month na ata dito), CHED, and LGU, or private ones like SM, etc.

 

[rosie37861]

@styrphid Thanks so much for the very comprehensive guide, I'll be pasting this on my notepad.

 

[charlie7399]

@rosie37861 When I was your age, probably I'm still stuck at an internet café with my friends along with my 100php baon every day and never worry of my future, never thought of finances and just get the right people in your life.

getting the right people is important in your finances as well, so go and network yourself along with your hobbies and passion.