The problem is that im only 16.
Set aside your age for a moment and think in terms of the quality of your act. If your act is not worth the current market rates for magic in your area, then you shouldn't put yourself on the market.
There have been and are some successful magicians who are in their teens, and a (very) few who were able to acheive success at an even younger age. The truth is that some (perhaps most) of them received some training from actual adult professional magicians. They didn't just pick up a few DVDs off the 'Net, learn a few tricks in their bedrooms, and decide to "go pro."
In general, I'm going to discourage teen and pre-teen magicians from trying to compete in their local magic markets not just because of their age per se, but because the reality is that most teens and pre-teens who do magic are not good enough to do it for money. Not only that, but they are also not mature enough mentally or emotionally to face the reality of real-world public performance.
Entertainment is a business; when you enter the entertainment marketplace as a magician, you are not just a magician... you are a businessperson and must be prepared to face the responsibilities and realities that come with that.
Saying "I'm cheap because I'm 16" (or 13 or 12 or whatever) is really saying "I'm cheap because I'm not really ready to be doing this."