What are your best tips for money management for a teenager?
I am a 17 year old girl and I usually just end up spending all my money. But I don’t want to just put it all away in a savings account. What are your best methods for me to not spend it all?
If you start now and save 10% of your money now and all of the time for the future you will be well equipped for the rest of your life. Just open up a savings account (for now) and always put 10 % of your earnings in there never to be touched.
the second part of this is that make the decision to never spend more money than you make. Do not get into the game of living on credit cards. this is financial suicide
all the best to you
I’d give my extra money to my parents to save for me.
http://sites.google.com/site/xmasbillmoney/
References :
If you start now and save 10% of your money now and all of the time for the future you will be well equipped for the rest of your life. Just open up a savings account (for now) and always put 10 % of your earnings in there never to be touched.
the second part of this is that make the decision to never spend more money than you make. Do not get into the game of living on credit cards. this is financial suicide
all the best to you
References :
Do not use a credit card. Use a debit card. Stay debt free. Build a emergency fund of three to six month to live on when your job go’s away. From your income save 15% and live on the rest. Do this all your working life as a plan for managing your finances. Save so you can pay cash for your goods. Invest in the stock market for the long haul.
References :