10 smart financial planning tips every high school student should follow

High school life is FULL of choices and change. With students trying to figure out where they want to go to college, playing sports, joining extra curricular clubs and just life overall. With everything going it, its easy to overlook any thought to finances since realistically speaking, most high school students are limited to allowances or income from a part time job.  If you have a job or even an allowance; it is time to start learning about financial planning for your future. When you are in high school, the financial choices you make can affect your adult life, so learning some smart financial planning tips now is crucial.

Isn’t high school too early to worry about financial planning?

Many people started financial planning many years ago but might not even realize it. Every time your coins were deposited in a piggy bank, a financial plan was born. Saving for a cool toy or designating your savings as a college fund was the goal of your financial planning. Now, during high school it’s time to use some savvy financial planning with your new-found income from a part-time job or even the savings you manage from your allowances, birthdays and even gifts.

10 financial planning tips for high school students

1. Learn the Basics of Budgeting – A budget is an estimate of income and expenses for a set period of time. Sticking to a budget is a crucial part of financial planning. It allows you to take control of your money to reach your financial goals. Learning this in high school with your first job will lead to future financial success.

 

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