Safe money-making tips for young entrepreneurs

There are several rites of passage teens can't wait to reach, like driving, voting and graduating high school.

For my 13-year-old with earnest entrepreneurial spirit, it's getting a job.

She loves to spend (especially when it's money plucked from my pocket), but sincerely wants to earn. She occasionally baby-sits and when the snow flies, she grabs a shovel and starts knocking on neighbors' doors. Unlike handouts and gifts, if it's bread she's reaped, she'll mull over every purchase like a risk management specialist pores over a corporation's investment portfolio. It's a good thing. She's learning the value of hard work and sound money management.

But, earning income at a young age isn't easy.