Episode 3 : Balancing Books and Business: A Teen's Tutoring Business Journey

What's up, Cash Kids? Welcome back to the Cash Kid Podcast, where we highlight young entrepreneurs learning how to earn, save, and invest at an early age. We're continuing our special series on kids with a serious entrepreneurial mindset, and today’s guest is a great example of that.

 

**Host:**  

If you aren't already, be sure to follow us on Instagram, Facebook, and YouTube @cashkidpodcast or sign up for our mailing list at [cashkidpodcast.com](https://www.cashkidpodcast.com).

 

**Host:**  

Our guest today is a high school sophomore who’s not only super involved in his community but also runs his own tutoring business. Balancing academics, extracurriculars, and a business, this young entrepreneur is making moves to set himself up for financial success. We’re excited to dive into his story and learn how he's managing it all while gaining valuable skills that will serve him for years to come. Stay tuned as we talk about how he’s helping others while building his own path to success, truly embodying the spirit of a “Cash Kid.”

 

**Host:**  

“So, you've got some cash? Maybe from allowance or that money your grandma gave you for your seventh birthday. Whatever it is, what are you going to do with it? Spend it? Hide it away? Or maybe invest it? Let’s start learning how to make that money grow. Time to learn how to be a Cash Kid.”

 

**Host:**  

Joining us today is Matthew Farmer, a sophomore in high school who runs his own tutoring business. Welcome to the show, Matthew! First off, tell us a little bit about yourself.

 

**Matthew:**  

Hi! Yeah, it’s great to be here. My name is Matthew. I am the secretary for Model UN, I have my own tutoring business called Matthew’s Tutoring, and I’m in several other clubs. I do cybersecurity on the side and I’m part of a club called Educators Rising, where we do volunteer work. That’s all about me!

 

**Host:**  

That’s amazing! So tell us, what are your thoughts on kids using their talents to make money?

 

**Matthew:**  

I think it’s really important that kids use what they already know to make money. I felt like tutoring was a solid thing for me to do because I knew what was being taught in class and could help kids who were struggling. I thought, why not make a little bit of money off of it? It’s been going really well. I think it’s important for kids to do that because it teaches maturity, responsibility, and how to handle their money better.

 

**Host:**  

I definitely agree! There’s always someone with a skill who can help others. So, what gave you the idea to start tutoring?

 

**Matthew:**  

It’s actually a funny story! Someone from the school reached out to me to tutor as a volunteer, and I did it for a couple of months for free. I had a lot of students, and it got to the point where I was spending my own money on notebooks, markers, and supplies. I realized, with all the time and effort I was putting in, I should turn it into my own business because I found out I was really good at it.

 

**Host:**  

That’s great! So, how do you get clients or find students to tutor?

 

**Matthew:**  

I mainly advertise on Facebook, and I have a Google business account. If you search for tutoring in my area, I pop up in the search results. Occasionally, I go door to door, but I don’t do that too often.

 

**Host:**  

How do you manage your time with tutoring and being a full-time student?

 

**Matthew:**  

I plan everything out using Google Calendar. I set aside time after school for tutoring, and if I’m doing something else, I have people who work for me who can take on students. That way, I can still have time for myself.

 

**Host:**  

What subjects do you typically tutor?

 

**Matthew:**  

We tutor in a variety of subjects because we have different tutors who specialize in different areas. I like to focus on math and science, but we also tutor in subjects like Spanish, world history, and area studies. We offer a wide variety of subjects.

 

**Host:**  

What have you learned from being a tutor, and how has the money you’ve earned helped you?

 

**Matthew:**  

The money I’ve earned has helped me a lot. I’ve been able to save up to buy a car since I’m 15 and will get my learner’s permit soon. It’s nice to be able to buy things for myself and even buy gifts for my family. I also save and invest my money, which is really important.

 

**Host:**  

That’s awesome! You mentioned you have employees. How did you get your first one?

 

**Matthew:**  

I reached out to one of my friends who didn’t have a job or only worked a little bit. I knew they were really good at math, so I asked if they’d like to work for me. It’s better than a regular job because I pay more than what McDonald’s pays, and the hours are flexible, which is great for students who do sports or have other commitments.

 

**Host:**  

Have you worked other jobs as a student?

 

**Matthew:**  

Yes, I’ve worked at McDonald’s for about a year and a half as a crew trainer. It’s been a good experience, and I might try to become a manager when I turn 16.

 

**Host:**  

What challenges do kids and teens face when trying to find jobs?

 

**Matthew:**  

It depends on what each job offers. When I was looking for a job, I made a presentation to my parents comparing the benefits and downsides of different places. McDonald’s worked out for me because it was flexible, and they needed more people, while other places like Culver’s already had a lot of staff.

 

**Host:**  

That’s a great way to approach it! What advice can you give to kids or teens thinking about starting a side hustle or business while in school?

 

**Matthew:**  

Go for it! Take a risk. Even if it doesn’t work out, you tried, and you can always try again. You’ll never know if you can succeed unless you step out of your comfort zone.

 

**Host:**  

Exactly! Trying something gives you valuable experience, even if it doesn’t work out. Have you ever wished there was a class in school that taught more about financial skills?

 

**Matthew:**  

Actually, I’m taking business classes in high school, like marketing and accounting. Next year, I’ll take sports and media marketing, and I’ll be eligible for dual credits at my local college. My school covers the cost, which is great.

 

**Host:**  

Matthew, we appreciate your time and expertise. Thank you for joining us on the Cash Kid Podcast and boosting the financial knowledge of fellow Cash Kids everywhere. And remember, anyone can be a Cash Kid—you just have to learn how to become one. Cash Kid, out!

 

**Disclaimer:**  

The information presented represents the views and opinions of the guest. This podcast does not intend to provide personal investment advice. This content is for informational and educational purposes only. To make a full and informed investment decision, we advise you to speak with a financial advisor—and for kids, definitely talk to your parents first before investing