Advice for Teens about Money Management and Financial Freedom

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College is a fabulous time. You get to plan and build for your future and success as well as have a lot of fun experiencing a whole world of new things before having to go into the real world. As great as a university is, it is pricey.

And I am not just talking about teaching and books. Many times varsity is the first time when a young person begins to support themselves, at least partially. Due to this number of students are often discovering themselves tight for money.

Advice for Teens about Money Management and Financial Freedom

They may have enough to cover all the prerequisites, but they do not appear to have much left over for the fun stuff. Having been a student for a very long time (potentially longer than required) I have been taught some great university student money management tips.

The key to money success is cutting back on costs and all the must haves, therefore having money to use for pleasure and fun. Cutting back costs is not hard so long as you know where some cash can easily be saved. First, never buy books new unless there is no way to get a second user copy. Being a procrastinator myself, I wait until the very end to get my books.

Because of this, all the used books are gone and I am forced to purchase new. I might have saved thousands over the course of my school experience had I gotten books at the first chance. You may also save cash by eating a couple more meals at home or at the dorms.

Eating out all the time can be dear, regardless of whether it’s just McDonalds. $6 meals three times each day adds up quite fast. Hit the store and load up on some fast and easy meals. If you drive a lot, you need to do a little investigating to find out where the least expensive gas in the town is located. The difference can be as much as ten cents per gallon or more, and once more, something small actually advertisements up over a period. Also, be sure that your tires are correctly inflated.

Having tires that are low on air truly sucks up a lot more gas. And if you have the chance to carpool to class or work or any place else you drive, exploit it. Or heck, you can always get a moped that gets a hundred miles per gallon that should save some money.

School student money management can make sure that you aren’t wasting cash on where it can be saved and utilized for the most pleasurable parts of varsity. And if you get into the practice of budgeting your money and cutting back on costs, the habit will last a lifetime. Decent money habits can ensure you are never at risk of going broke.

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