When it comes to money, a lot of teens simply are unaware of how much their expenses impact their income. So they are left unprepared when leaving for college or heading out on their own. Many teens go through financial struggles that could have been avoided if they learned early on how to manage their money.
Getting married can be exciting. Once the honeymoon is over, you’ll begin settling into the routine of married life. Your decisions from now on will no longer just affect one person; it will also affect your spouse. To avoid falling into financial issues, one of the first things you should do as a couple is to create a household budget.
It’s never too early to begin teaching your kids about money and finance. While the banking question is one that might not arise until your kids are teens, the education teenagers need about managing their money today is wholly different from the one you may have received when you opened your first account.
While it may not have the same gravitas as a new car, a checking account represents the same important rite of passage for teens. The earlier your teen opens a checking account, the sooner you can begin teaching them valuable lessons, such as money management and disciplined spending.
It’s an exciting time being a teenager. You’re becoming more independent, and the time is getting closer for you to step out into the world on your own. The best thing you can do is to get a good financial head start.
That first job as a teen is almost as exciting as passing the driver’s test and getting a license to drive. There is a certain amount of freedom in both. One represents greater financial freedom, while the other represents freedom of movement.
That first paycheck your teen receives from his or her first job seems like gold to them. They worked for those funds. Now, it is up to you to teach them how to use that money wisely.
Landing your first job out of college is an amazing feeling. And the paycheck definitely makes staying up all night cramming for tests worth it. However, before you start daydreaming about all that your new income can afford, begin by setting some rules for saving.
When studying in college, you might feel like you’re trapped in a bubble. From countless textbooks, presentations, theories, and mock simulations, you may begin to ask yourself how much of this information you will actually use in the real world. That’s where internships come in.
There’s nothing quite like that first year or two of marriage when all is right with the world, and your new spouse can do no wrong. But if you don’t take care of a few money matters during these early days of marriage, you might find your finances falling into a hole that won’t be very easy to climb out of.
