By Nickolay Bokhonok
Now you hit a certain age and you think you are absolutely adult and want to have as much freedom as you can for yourself. Now you can drive and even get a job. Now you are free and strong and your parents’ mortgage payment, and car insurance, and heating bills seem so small things because you are able to save for a pair of jeans. But life is not a pair of jeans and now it is high time that you learned how to manage your finance.
Whether you want it to hear or not but teenagers have no financial skills and do not think about saving for the future. If you do not want to worry about money your whole life, you should know how to solve financial problems right now.
You are going to college in a year or two but college costs are high and tend to increase every year. What do you think of it? And where are you going to take money for college? The world financial crisis is still echoing and it is difficult to get a student loan many families are make ends meet and cannot pay for their teens’ college.
A very important point for young adults is their credit score because most employers and landlords check it when they offer a job or rent a flat. Credit history must be perfect or at least good and you can start it from your teens.
To start save and cut your expenses you should know exactly how much you spend each month. Do not waste money for unnecessary and luxury things. Try to eliminate extra expenses for restaurants and cafes and never buy anything you can find on the Internet for free. Use financial help and the expense calculator to understand how to distinguish your ‘wants’ and ‘needs’ and it will be your first real step to save money.
If you need an experienced saving money expert and need assistance in financial planning – feel welcome to get in touch with the registered financial associate and a member of the International Association of Registered Financial Consultants.