Teens & Money

People are more likely to make smart decisions that affect their finances and future if they understand how to manage and save money. Saving money may not be as much fun as spending it, but it’s still important to do.

Since teens are becoming more responsible for handling money and making decisions from everything to everyday purchases to paying for college or buying a car, it’s important that they understand how to make good decisions about their money.

The following is intended to assist parents in educating their teens on the basics of responsible money management. These sections provide information on budgeting, college costs, buying a car and more!

Financial Planning:

Financial planning is the process of defining goals, developing an action plan to reach those goals, and then putting that plan in action. It includes all aspects of your money: spending, credit, savings, and investments. With good financial planning you can live a better, more secure, life than someone without good financial planning that has to live pay period to pay period.
Some things you can do to help with financial planning are to figure out a budget and save money.

Next Blog, "Figuring Out Budget"