As a young adult, it’s hard to think about saving and budgeting your money. In high school and possibly the early years of college, you’re most likely making minimum wage or not much more. You may be fortunate enough to get an allowance or have most of your expenses paid for, but it’s still important to learn the value of money. Here are some guidelines to help manage your money effectively. Use a savings account.
If you don’t have one of these, go ahead and open one with the help of a parent. Having your savings in the bank instead of in cash under your bed will make it less tempting to take from. Even adding as little as $10 per paycheck will really pay off when it’s time to start college. Budget your income.
Turn your spending into smart spending. Putting some money away into a savings account is a great way to begin. Next, it’s important to make a budget and stick to it. Plan your monthly spending and compare it to how much you actually ... read more