5 Things Teenagers Should Be doing With Their MONEY

If you’re a teenager you’ve probably heard a lot make sure you save your money save your money save your money oh are you saving your money make sure you’re always saving put it in a savings account make sure saving it and that’s all you’re really here you don’t really hear much else about anything like other that you should be doing their money and that’s what I’m doing this video so in this video I’m gonna go over five different things that teenagers should be doing with their money besides just saving it so let’s get into it this is gonna be fun and this is an important conversation to have.

The first thing that you should be doing with their money is just split it up so what I mean by this is take the money that you have and split it up between this is how much I want to spend on things that I want maybe this is how much I’m gonna spend on food on entertainment on savings on really anything else so make sure it’s all split up that way if you go out to eat or something like that you know how much in money you actually have and you can only spend or however much you saved up in your food category so make sure you split it up this is just kind of an easy way to do budgeting you know you don’t really have to do a formal budget because oftentimes as a teenager you don’t have a lot of expenses you know it’s not like you’re playing all the times you’re not paying rent or you don’t have all these different expenses that older individuals do have so this is just kind of budgeting but on a much smaller scale just split all your money up and then you got to go from there it’s also good idea to get a big picture of your finances like that as well.

Number two is invest in your passion you know you have time now you can put money into things that you are passionate about and you know you do want to be careful with your money but you can spend on things that you are passionate about you know for me I’m very passionate about making videos like this and I started back when I was let’s see I was about 15 years old I did it I started this YouTube channel after my freshman year of high school so I would have been about 15 I’m now a junior in college so it’s been a while but that’s about when I started and you know it’s now paid me back in the long run you know I’ve been able to make money through my passions that’s by investing in my passion I was that young so it’s so important to invest in things that you are passionate about and it can be anything just whatever your passion about just try it you have time you might have some money just go for it.

Number three is buy financial books so oftentimes when I say financial books automatically people just start falling asleep well it’s the boring thing I’ve ever heard in my entire life but the cool thing is it’s not really and this isn’t just because I’m a finance a nerd you know there are great financial books out there that are intriguing to read that are interesting you know I wouldn’t get a finance textbook yeah that may put you to sleep but if you get an interesting one you know you might enjoy it and the key here is just to get some financial literacy some financial understanding as when you are a teenager that way when you start making more money later in life you’re already equipped with some financial knowledge that you know what to do so as far as where to go I recommend just going to Amazon so I’ve been like personal finance books or something along those lines you can look through the ratings and generally the ones that have you know a couple thousand reviews four or five stars they’re gonna be pretty good bet.

Number four and this is something that I definitely didn’t do enough of as a teenager and I think the reason it’s so important is because it’s a great mindset kind of thing so this one is give some of your money away and that might seem weird because often times teenagers don’t have that much money and you know why would I give my money away but it’s great for the mindset capability I’m saying you don’t have to give a lot of money away but just give a little bit away you know to someone that is less fortunate you can find really great charities out there you know being in high school at least at my high school there were a lot of kids that ran clubs or just different underserved communities or maybe like a hospital club and if you know if you can donate to them I’m sure they would very much so appreciate it and this is just all about your mindset you know becoming so money centric is not that great of a thing you know for a while I struggled with like all right I got to make as much money as possible.

So I recommend definitely doing that and it’s just to get your money making it a little bit more money for you so that will wrap it up but there’s one more thing that I want to say that you can do and I didn’t add it in the five because it’s not necessary what you’re doing with your money it’s more of a mindset thing too but I would look into investing you know if you’re 13 14 15 years old you can’t really get a brokerage account yet there are ways that you can’t invest in stocks I highly recommend checking out my video about how to invest in the stock market as a teenager so check that one out if you’re kind of interested in that but just start looking into investments start looking into stocks and start preparing yourself for when you either turn 18 or start making more money because then you’ll be so much further than all your friends you know if you’ve been reading investment books and if you’ve been looking at investment stocks and stocks that you want to buy then when you do it when you jump on it when you’re 18 you’ll be far ahead of your other friends when they get to it like.

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