TIME

There’s 1 Huge Downside to the Fastest Growing Jobs

TIME.com stock photos Money Dollar Bills
Elizabeth Renstrom for TIME

The economy is getting better, but there's a catch

Employment news is a mixed bag these days. First, the good news: There’s work. The unemployment rate is dropping, and a growing number of surveys indicate that companies plan to hire and even pay more.

But—and this is a big caveat—the jobs aren’t necessarily the ones you’d like to take, especially if you’re looking for a decent salary or prefer more sedentary employment. This is work work, where you’ll probably be on your feet and dealing with things that are hot, dirty or dangerous (or all three).

Credit.com analyzed a report put out by the National Employment Law Project, an advocacy group for low-wage workers, that breaks down how many people earn $15 an hour or less in a variety of low-wage jobs, then compared it to government projections for job growth through 2022. Unfortunately, a lot of the fastest-growing jobs are the ones that pay the least.

There’s plenty of opportunity — if not money — in the quote-unquote McJobs category. The NELP report finds that more than 400,000 people will join the nearly 2 million Americans with jobs in food preparation (including fast food), but the median hourly wage is only $9. Fewer than 12% of these workers see more than $15 an hour in their paychecks for jobs that often involve long hours on your feet over a hot stove or fryer. “As a result, many workers rely on public assistance to make ends meet,” NELP says.

But the plentiful-but-poor jobs go way beyond just flipping burgers. Right now, about 1.2 million people work as personal care aides, providing crucial assistance to elderly or disabled people. As baby boomers age, the number of people working these jobs will increase by almost 50%. It’s hard work dressing, bathing, making meals for and cleaning up after others, but that isn’t reflected in the pay. NELP finds that the median wage is only $10 an hour, and about 78% make less than $15 an hour. In a similar vein, the number of nursing assistants is expected to go up by more than 20%, but these workers make around $12 an hour at the median, even though they also do a lot of literal and figurative heavy lifting taking care of people.

In another recent study, WalletHub.com analyzed 109 entry-level jobs, most of which require at least some, if not extensive, post high-school education or certification, to pick out the best and the worst. The top 10 list is dominated by tech jobs, with a few number-crunching gigs (financial analyst, engineer) thrown in. In other words, even though these are entry-level jobs, applicants need both skills and degrees to break into this market.

On the flip side, there’s a much lower bar to entry for what WalletHub labels the worst jobs. Some are equally skilled, but you need to have a healthy respect for manual labor and a willingness to play with fire (literally — the bottom 10 list includes boilermaker and welder). Some of these wind up on the bottom not because of poor pay but because of the potentially dangerous working conditions. Others — like electronics assembler, sheet-metal mechanic and consumer loan servicing clerk — make the “worst” list because there are so few of these jobs out there. If you land one, great, but it’s not the type of thing you’d tell your kids to make their career path.

And finally, there are the worst jobs that wind up there because the pay is horrible or the potential for income growth is lousy, like certified nursing assistants, which fall in the bottom five on both counts of the WalletHub survey.

“A low wage can make it difficult for people to pay bills on time, keeping their credit reports free of collection accounts or other negatives… [and] managing day-to-day expenses in addition to paying down outstanding balances can be even more challenging,” Credit.com says.

TIME health

Sheryl Sandberg Explains Why Facebook Covers Egg-Freezing

The Davos World Economic Forum 2015
Chris Ratcliffe—Bloomberg/Getty Images Sheryl Sandberg, billionaire and chief operating officer of Facebook Inc., speaks during a session on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Thursday, Jan. 22, 2015.

"I talked about it with our head of HR, and said, 'God we should cover this'"

A Facebook employee with cancer inspired COO Sheryl Sandberg to create the company’s controversial egg-freezing policy, Sandberg said in an interview released Friday.

In a Bloomberg Television interview with Emily Chang, Sandberg explained the genesis of the policy that gives employees money to get their eggs frozen in order to delay childbirth.

“There’s a young woman working at Facebook who had got cancer, and I knew her and she came to me and said, ‘I’m going to go through the treatment, and that means I won’t be able to have children unless I can freeze my eggs, and I can’t afford it, but our medical care doesn’t cover it,'” Sandberg explained. “I talked about it with our head of HR, and said, ‘God we should cover this.’ And then we looked at each other and said, ‘Why would we only cover this for women with cancer, why wouldn’t we cover this more broadly?'”

Egg-freezing has been widely used to help women with cancer preserve their fertility after chemotherapy, but it’s increasingly being used by women who want to delay motherhood for non-medical reasons, like if they haven’t found the right partner or they want to focus on work. When Facebook and Apple announced in November that they would cover elective egg-freezing for their employees, some critics attacked the policies, saying the companies were essentially encouraging women to delay motherhood until it’s convenient for the company.

Virgin CEO Richard Branson doesn’t agree. “We at Virgin want to steal the idea and offer it to our women,” he told Bloomberg in the same interview. “Somebody said to me they got criticism…and I said, ‘How can anybody criticize them for doing that? It’s women’s choice.”

He has a personal reason for supporting egg-freezing policies. “My daughter just had two wonderful twins from eggs, and they wouldn’t be here today if it weren’t for the eggs,” he said.

[h/t Bloomberg]

TIME

How to Ace the Most Important Part of Your Job Interview

Handshake illustration
Anna Parini

You're a perfect fit for the job. But that doesn't mean you're definitely going to get it

We’ve all been there. You aced the job interview and your credentials are a perfect fit for the position. Now comes the hard part – the ‘beer test’ or the personality test, a casual chat over drinks or dinner meant to determine how well you will fit with an organization on a personal level. Since your resume can’t really capture what kind of person you are, both you and the interviewer are walking into an unknown situation with unpredictable results.

But despite the dangers of the process, it’s possible to pass the test with flying colors if you recognize the priorities of your potential employer and the questions they are really trying to answer:

What else are you good at other than work?

This may seem irrelevant to the job but it’s not. While serving on the board of a mid-sized radio group, I was tasked with identifying and hiring a new Chief Operating Officer. The leading candidate was a long-time consultant for media companies who checked all the technical boxes for the job. However, learning about her passion for composing music in her spare time and sailing gave me a sense of a well-rounded person who could not only manage the firm’s logistical operations but also liaison with the quirky radio personalities that were our bread and butter.

She got the job and was extremely successful at securing popular new radio hosts for us, many of whom enjoyed discussing her music with her more than audience ratings. She also organized a sailing outing for the firm, which was a hit with the employees. Revealing your outside interests can help your interviewer see the three-dimensional person you are and (maybe) tap into some of your hidden talents.

Are you socially adept?

There are two aspects to this. Some very smart and capable people are bad at social interaction. In some professions, such as medical research or back-office accounting, that might not matter. But in other jobs, such as in marketing, sales, or even general management, social skills are extremely important and can determine your ability to do your job. How well you engage with your interviewer during a beer test will show him or her how good you are at interpersonal communication.

In addition, your future employer may be trying to gauge if you know how to socialize with a work colleague, which is not necessarily the same as with your friends. When spending time with a colleague, you need to be aware of personal boundaries that would be dangerous to breach. You may not, for example, want to discuss the subject of dating, which a colleague might consider intrusive and which could cause problems in the work environment later. It also opens up the company to lawsuits.

Being friends with your co-workers without being too friendly isn’t easy but essential, especially in smaller organizations where socializing is inevitable. Too much closeness can lead to awkwardness, misunderstandings, and office gossip. When confronted with this type of challenge, your best bet is to show your acumen by using it – chat engagingly but casually, avoid sensitive topics, and show your interviewer that you know how to have a good time within boundaries.

Are you Dr. Jekyll or Mr. Hyde?

In vino veritas as the saying goes. In wine (or beer) there is truth. This is probably the single most important reason for employers to want to meet a candidate socially. We all put on our best face during official interviews, but from an employer’s standpoint that can be a problem. After all, no one wants to hire the polished Dr. Jekyll and wind up with the wild Mr. Hyde instead – especially in the age of social media where that picture of you dancing on a table with your shirt off can go viral.

A social outing tends to entice people to let their guard down. That’s totally fine, as long as you don’t let it too far down and maintain the same decorum you would with anyone you respect. Another vital thing to remember is that just because it’s called a beer test doesn’t mean that you have to overload on the beer. Whenever you’re around co-workers, it’s always best to moderate your drinking, and this is something a smart interviewer will watch for.

And if you’re a party animal who just can’t help himself, and manage to offend your potential employer with your behavior, then you may be better off working at a different company or in another profession.

Why do you really want the job?

When interviewing analyst candidates during my investment banking days, I would routinely receive canned answers to this question, but what I was really looking for was that spark of honesty that gave me confidence the candidate was truly motivated to work at the firm and would go that extra mile for his or her job.

In a beer test, the logic is that without the pressure of being in an interview room, a candidate will feel more comfortable giving a heartfelt answer to the question. If you’re in this position, keep in mind that there isn’t one ‘right’ answer. In some cases, the fact that you want to use the job as a stepping stone to some other career in the distant future is perfectly acceptable – as long as it’s clear to the employer that you’ve really thought about it and have a convincing motivation to excel at the job.

The problem arises when you really don’t have a compelling reason for wanting the job except for being unemployed at the time. If all you want is a paycheck and the job you’re interviewing for requires deep commitment, then the job may not be right for you. That’s a reason to take a step back, be honest with yourself as well as your future employer, and decide if you have a better reason for taking that job.

Great employees flourish in great jobs, but only if the two are compatible. The beer test is designed to determine this very intangible.

Sanjay Sanghoee is a business commentator. He has worked at investment banks Lazard Freres and Dresdner Kleinwort Wasserstein, at hedge fund Ramius Capital, and has an MBA from Columbia Business School.

TIME Economy

Low Wage Workers Are Storming the Barricades

Activists Hold Protest In Favor Of Raising Minimum Wage
Alex Wong—Getty Images Activists hold protest In favor of raising minimum wage on April 29, 2014 in Washington, DC.

A few weeks back, when Walmart announced plans to raise its starting pay to $9 per hour, I wrote a column saying this was just the beginning of what would be a growing movement around raising wages in America. Today marks a new high point in this struggle, with tens of thousands of workers set to join walkouts and protests in dozens of cities including New York, Chicago, LA, Oakland, Raleigh, Atlanta, Tampa and Boston, as part of the “Fight for $15” movement to raise the federal minimum wage.

This is big shakes in a country where people don’t take to the streets easily, even when they are toiling full-time for pay so low it forces them to take government subsidies to make ends meet, as is the case with many of the employees from fast food retail outlets like McDonalds and Walmart, as well as the home care aids, child caregivers, launderers, car washers and others who’ll be joining the protests.

It’s always been amazing to me that in a country where 42% of the population makes roughly $15 per hour, that more people weren’t already holding bullhorns, and I don’t mean just low-income workers. There’s something fundamentally off about the fact that corporate profits are at record highs in large part because labor’s share is so low, yet when low-income workers have to then apply for federal benefits, the true cost of those profits gets pushed back not to companies, but onto taxpayers, at a time when state debt levels are at record highs. Talk about an imbalanced economic model.

A higher federal minimum wage is inevitable, given that numerous states have already raised theirs and most economists and even many Right Wing politicos are increasingly in agreement that potential job destruction from a moderate increase in minimum wages is negligible. (See a good New York Times summary of that here.) Indeed, the pressure is now on presidential hopeful Hillary Clinton to come out in favor of a higher wage, given her pronouncement that she wants to be a “champion” for the average Joe.

But how will all this influence the inequality debate that will be front and center in the 2016 elections? And what will any of it really do for overall economic growth?

As much as wage hikes are needed to help people avoid working in poverty, the truth is that they won’t do much to move the needle on inequality, since most of the wealth divide has happened at the top end of the labor spectrum. There’s been a $9 trillion increase in household stock market wealth since 2008, most of which has accrued to the top quarter or so of the population that owns the majority of stocks. C-suite America in particular has benefitted, since executives take home the majority of their pay in stock (and thus have reason to do whatever it takes to manipulate stock price.)

Higher federal minimum wages are a good start, but it’s only one piece of the inequality puzzle. Boosting wages in a bigger way will also requiring changing the corporate model to reflect the fact that companies don’t exist only to enrich shareholders, but also workers and society at large, which is the way capitalism works in many other countries. German style worker councils would help balance things, as would a sliding capital gains tax for long versus short-term stock holdings, limits on corporate share buybacks and fiscal stimulus that boosted demand, and hopefully, wages. (For a fascinating back and forth on that topic between Larry Summers and Ben Bernanke, see Brookings’ website.)

Politicians are going to have to grapple with this in the election cycle, because as the latest round of wage protests makes clear, the issue isn’t going away anytime soon.

Read next: Target, Gap and Other Major Retailers Face Staffing Probe

Listen to the most important stories of the day.

MONEY workplace etiquette

The Phrase You Should Never Use In Your Office Voicemail Message

office phone
Johnny Greig—Alamy

"Not available" conveys to the caller that you're not interested in their business. Here's what to say instead.

How many times a day when you make a phone call do you get someone’s voicemail and hear, “I’m not available?”

What exactly does that mean?

The person could be powdering their nose for two minutes, gone to a client meeting for two hours, on maternity leave for six months—or, have been transferred to the mailroom in Beijing! You have no idea.

You had phoned for a reason: to get information, to place an order, to extend an invitation to meet, to do business. But now you hang up in disgust, your mission thwarted.

Now you have to invest time figuring out your next, hopefully productive, step. Do you check the web for their corporate number, another branch number, or simply find another “source” altogether, giving your business to a competitor? Perhaps with your time constraint you are forced to simply table your project.

If this were your business, you’d have just lost a customer.

Now it’s time to check your own voicemail.

With all of the competition out there and access to information at one’s fingertips on the web, people have untold choices when they need a real estate attorney, a construction engineer, an investment advisor, a party planner, a temp agency… or whatever it is you do.

If you want to build your business, you need to build relationships, and this requires showing respect for your caller’s time and energy.

“Not available” is simply dismissive. It communicates to the person that their need is not that important to you.

And it either causes your potential customer to hang up, or to get stuck going through an obstacle course in which they get the main switchboard and are given the third degree: “What’s your name? What’s your affiliation? Why are you calling? Whom do you want to speak with?

The alternative is simple: Provide in your voice message a phone number and refer the caller to an assistant, a colleague, a cell number—any way of expediting their quest. Help your caller to reach someone who can, in your absence, be helpful and succeed in keeping the business.

And remember to update your voicemail message when appropriate. Recently I called an office and heard: “I’ll be back February 1st.” It happened to be March 17th!

Investing a mere 60 seconds can keep a client and their business while enhancing your reputation.

Arlene B. Isaacs is an executive coach in New York City.

MONEY Workplace

Why Checking Email After Work Is Bad for Your Career—and Your Health

Robert A. Di Ieso, Jr.

Q: Should I check work email outside of normal business hours?

A: The availability of smartphones and tablets has made it easy and common to check email anytime, anywhere: 59% of American workers say they use their mobile devices to do work after normal business hours, according to a recent Workplace Options survey.

But that convenience comes at a price. Checking email constantly can lead to burnout and health problems, says Dean Debnam, chief executive officer of Workplace Options, which provides employees with work-life balance support services.

Whether you should check work email regularly depends on your personal preference as well as your company culture, Debnam says. For many, the ability to field email anytime, anywhere is a good thing. It can free you from long hours in the office and enable you to respond quickly to important or urgent issues. You may feel better not having a full inbox when you log on in the a.m. About 80% of workers say using a smart phone, tablet, or laptop to work outside of typical business hours is positive, according to a 2014 Gallup poll.

For some professions, it is just part of the job. Maybe you work with people across different time zones. Or you’re a consultant, lawyer, or salesperson who needs to be available to clients all the time. (A prestigious law firm had to apologize to employees recently when its announcement of a new policy eliminating email overnight and on weekends turned out to be an April Fool’s prank.)

On the downside, constantly being available online translates into more work hours. Though just 36% of workers say they frequently check in outside of regular office hours, those who do log an additional 10 hours of work a week—twice as many hours as those who rarely or only occasionally check email remotely, according to the Gallup survey.

Younger workers and men are more likely to be in constant contact. About 40% of Gen-X and Gen-Y workers check email frequently outside of work vs. one-third of Baby Boomers, and 40% of men vs. 31% of women, according to the Gallup poll.

The more money you make and more education you have, the more likely you are to be among those frequently connected. Employees with a college degree or higher and people who earn more than $120,000 a year are twice as likely to constantly check email than those with lower education levels and salaries below $48,000 a year. That’s a reflection of how prevalent email communication is for higher education and income groups in white collar jobs—or the pressure many workers feel to respond immediately.

There’s lots of evidence that that kind of connectivity is bad for your health, your psyche, and your productivity.

First, it can seriously intrude on your personal life. A survey of 1,000 workers by Good Technology, a mobile-software firm, found that 68% of people checked work email before 8 a.m., 50% checked it while in bed, 57% do it on family outings, and 38% regularly do at the dinner table.

And your communication might not be as sharp or thoughtful when you’re doing it off-hours. It is hard to be at your best when you’re responding to a work issue late at night or in a non-work setting. “If you check in during a family dinner or with your kids running around in the background, you’re going to be distracted,” says Debnam.

Working around the clock can cause serious health problems too. A piece in Medical Daily cited a recent study in the journal Chronobiology International that found that checking your work email at home, or taking a call from the boss on weekends, could lead to psychological, gastrointestinal, and cardiovascular problems

If you don’t want to be constantly connected, set expectations up front by not getting into the habit of monitoring and responding to email after hours unless there’s an important reason to do so. And if it’s just part of your company culture? Well, then you have to decide whether that’s a company you want to work for, says Debnam.

 

TIME Parenting

Dads Feel Just as Guilty as Moms About Time They Spend With Their Kids

Robert Deutschman—;Getty Images

And moms are going back to work after birth more quickly than ever

Dads are feeling more guilty about the time they spend with their kids, and more pregnant women are staying in the workforce longer, according to two new studies on the roles of parents in the 21st century.

For all the hair-pulling about the stressful lives of working mothers, working fathers feel just as guilty about the amount of time they spend with their kids. According to studies from Pew Research Center, working dads are more likely to feel that they don’t have enough time with their kids than working moms.

Working dads are divided on whether they spend enough time with their kids: 48% say they spend too little, 48% say they spend just enough. But working moms are much more likely to report they have enough time with their kids—66% say they spend just the right amount of time with their kids, compared to 26% who say they have too little. (These numbers include parents who work both full-time and part-time.)

Despite the fact that almost half of working dads (46%) say they spend more time with their kids than their own parents did, they still have a lot of guilt about whether they’re doing enough. Among the dads who say they don’t get enough time with their families, only 49% think they’re doing an excellent job as a parent, while of the dads who say they get enough time, 81% think they’re doing a great job.

Just as the distribution of parenting guilt is evolving, so are norms about working through pregnancies. According to a different Pew study, it’s becoming much more common for an expectant mother to work while pregnant with her first child. While only 44% of pregnant women worked in the early 1960s, by 2006 about 66% of soon-to-be-moms were still on the job. Women are also working longer into their pregnancies—in the 1960s, only 35% of pregnant workers continued working through their eighth month of pregnancy, compared to 82% of pregnant workers in the late 2000s. And women are going back to work more quickly after birth than they used to. Fifty years ago, only 21% of women returned to work within six months of the baby’s birth—by the late 2000s, that number had skyrocketed to 73%.

 

MONEY Workplace

Law Firm’s April Fool’s Joke About Work-Life Balance Backfires

150402_CAR_AprilFools
Getty Images—(c) Image Source

There are some things bosses just shouldn't joke about.

Add this to the list of April Fool’s Day stunts from Wednesday that failed spectacularly: A big New York-based law firm told employees it was instituting a new policy eliminating work emails during night and weekend hours… and then revealed the whole thing was a joke.

Hilarious, right? All you suckers must keep tabs on work no matter if it’s midnight on a Tuesday or a Sunday morning and you’re on vacation. Ha!

The way the prank played out is that Weil, Gotshal & Manges sent out a company-wide email claiming the firm was banning all work-related emails between the hours of 11 p.m. and 6 a.m., as well as on Saturdays, Sundays, and employee vacation days. According to messages obtained by legal industry blog Above the Law, associates were elated to learn of the new policy, supposedly inspired by similar practices currently catching on in Europe, until it was revealed to just be a goof.

Since employees generally don’t like it when their bosses see their work-life balance as—literally—a joke, Weil received enough backlash to send out a firm-wide mea culpa in the afternoon. The email, from executive partner Barry Wolf, reads: “We obviously got this wrong and we sincerely apologize. We know and appreciate the hard work that all of you do. We have and continue to take work-life balance seriously and are always evaluating ways to improve the quality of life here, given the intensity and demands of the profession.”

It makes sense that this joke didn’t go over well, considering how notoriously bad lawyers’ hours tend to be and how modern technology makes it hard for employees across all industries to ever fully unplug—even while on vacation.

Though American workplaces generally tend to be slow to embrace policies that make it easier for staff to have a life outside the office, it’s a good sign that Weil was quickly shamed for its tone-deaf prank. It seems even lawyers want to join the movement toward workplace flexibility and family-friendly policies.

TIME motherhood

Egyptian Woman Who Lived as a Man to Find Work Honored with Motherhood Award

Sisa Abu Daooh, a woman who passed for a man for decades while working as a shoeshine, in Luxor, Egypt, on March 25, 2015.
Bryan Denton–The New York Times/Redux Sisa Abu Daooh, a woman who passed for a man for decades while working as a shoeshine, in Luxor, Egypt, on March 25, 2015.

Sisa Abu Daooh dressed as a man for 42 years

An Egyptian woman who was forced to live as a man in order to support her daughter was recently awarded the country’s highest award for motherhood.

Sisa Abu Daooh has been dressing as a man for 42 years in order to find work after her husband died. “I worked in Aswan wearing pants and a galabeya,” she told the New York Times. “If I hadn’t, no one would have let me work.”

Daooh was forced to dress as a man not as an expression of gender identity, but because otherwise she would have been unable to find work. In the early 1970s, when her husband’s death left Daooh and her daughter destitute, it was extremely difficult for women to find paid work. For seven years, she worked as a manual laborer making less than a dollar a day before finding less physically demanding work. She now works as a shoe-shiner.

When Daooh’s husband died, it was almost unheard of for Egyptian women to work, but even today, very few Egyptian women participate in the labor force—only 26%, compared to 79% of men, according to the World Economic Forum. If women and men participated equally, Egypt’s GDP would increase by 34%, according to an analysis conducted by the Clinton Foundation and the Bill & Melinda Gates Foundation. Between the lack of economic opportunity, the prevalence of female genital mutilation, and the near-universal experience sexual harassment (over 99% of women say they’ve been harassed,) Thompson-Reuters voted Egypt the worst place in the Arab world to be a woman.

[h/t New York Times]

MONEY Taxes

Does My Teen Really Have to File Taxes?

150326_FF_TEENTAXES
Erik Dreyer—Getty Images

April 15 is rapidly approaching, and you know you have to file a tax return, but does your teen have to?

You know you have to file a tax return, but does your teen? The deadline is rapidly approaching, and he or she may — or may not — have received forms relating to income last year.

Chances are, your teen does not have to file. John Scherer, a certified financial planner with Trinity Financial Planning in Middleton, Wis., said they do not have to file if they have investment income of less than $1,000 or earnings of less than $6,200.

If your teen is under those thresholds and worked a job that withheld taxes, though, he or she would want to file to get those withholdings refunded. So encourage your teen to collect those W-2s, even if it seems like a lot of trouble for a refund that doesn’t sound terribly impressive (and yes, he or she might have multiple W-2s, if there were paychecks from a summer job, a part-time job and a holiday job). If your child is not required to file, the April 15 date does not apply, but it’s still a good idea to dig out those forms, if for no other reason than to emphasize they are important papers and should not be disregarded.

And even if W-2s weren’t issued (as for babysitting), it’s smart to keep — or to begin to keep — a record of earned income, Scherer said. This can be as simple as keeping a log and making corresponding deposits to a bank account. Those earnings won’t owe income tax so long as they add up to less than the standard deduction ($6,200 for 2014). (Update: Keep in mind, if your teen earns $400 or more and they are not employed by someone else, this income is considered self-employment income and they must file a tax return and pay self-employment taxes, warns Burton M. Koss, an enrolled agent with Cortes & Baker LLC.) Where the record of earnings can come in handy is with establishing a Roth IRA. While we don’t expect most teens to want to save all they earned for retirement, the limit is 100% of earnings or $5,500, whichever is smaller. So a parent or grandparent could put money into a Roth on the teen’s behalf, as long as the teen has earned income. And the young person’s retirement savings will not be counted against possible financial aid for college, but will have more years to increase in value.

So it’s smart to file, even if it’s optional and little or no refund is coming. Your teen might get a little tax money back, assuming it was withheld, and he or she should also get a glimpse of what taxes are and how they work — and some early practice at keeping records for tax purposes. Parents would be wise to “walk through it with the kids,” Scherer said. “For most folks, taxes are one of their biggest expenses they have.” And learning early that planning ahead can save real money can only help teens later.

More from Credit.com

This article originally appeared on Credit.com.

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