Manage Your Money
There's a lot going on in high school – classes, homework, clubs, work, sports, graduation. It may seem endless. You might think you don't need to know about money management or that there's still time to figure that out later.
What does money management even mean? For you, right now, it may mean stretching every dollar you make at your part-time job or making your allowance last through the month. When you begin to make all your own financial decisions, it'll mean a lot more.
As you start making large financial decisions – like paying for college and renting an apartment – costs start adding up fast. Good management skills will help you stay on top of those expenses. On the other hand, poor money management can lead to:
- Difficulty getting loans or credit cards.
- Higher interest rates on loans and credit cards.
- Higher auto, homeowner and renter's insurance.
- Trouble landing a job if your potential employer checks your credit history.
- Being denied for housing, loans and other credit opportunities.
Creating good financial habits now will actually pay off (literally) later.