I recently read the article How to Save Money As a Teen, and although there were some key factors in it: I feel that it missed a key foundation. Before you start a summer job, doing housework, asking your parents, and starting a savings account, you need to get your mind right!
Like every great building you need a strong foundation. As a child I was never taught the proper way of thinking. Allow your money work for you, not you working for your money. In which knowing this now, we came to the development of LESS EFFORT – MAXIMUM INCOME.
You need to understand that you must live below your means. Yes, it will be hard to do this as a teenager. You have friends and family that may have nice things that you want, but those are things you MUST wait on. If you buy those nice sneakers guess what (1) the money you spent on those sneakers will never be returned to you (2) a new pair of sneakers will come out next month (3) those sneakers are now a debit and will not make you money. Understanding that living below your means now, will set you up for success later. Some also call this “being materialistic”, try your best to stay away from the GUCCI, LV and what not…for now that is.
Chris. M (May 12, 2020) How To Save Money As A Teen
I suggest you read the following book:
Rich Dad, Poor Day