Tuesday, October 25, 2016

3 lessons for teens to know about money before college

  1. You have to earn money; it isn’t handed to you. Parents give out way too much money to their kids these days for no reason. The kids don’t even have to earn it. But it is true that some kids have very busy schedules, where they don’t have time for a job. But, they can still manage to do chores around the house to earn money.
  2. Pay yourself first. It all begins with savings. When you get paid or whatever, you need to put some back. It may not make sense, but just all the “little bit” you put in there over time is going to equal out to hundreds or even thousands. It could also be a great emergency fund.
  3. Be careful using credit cards. Credit cards can be cool and convenient and all that jazz,but sometimes you're in for more than even know. 56% of college students carry a card. More than one third of these people don’t pay of their credit card debt either. Then they have student loans on top of that. So they’re financially behind before they even begin their career.

Many Americans get mixed up after college. It doesn’t have to be that way if you watch your money. So keep an eye on that spending and your budgeting, and you’ll do great. ~ Erin Lattin

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