6 Financial Tips Every Teen Receiving a Per Cap Should Know

1.Have a plan!
Making a budget is key to controlling your money. This will help you dictate where every bit of your money goes, so you won’t be stuck asking yourself “Where did my big money go?”
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2.Save for the expected and the unexpected!
Saving is crucial for you financial secruity. Whether your saving for something you’ve always wanted or just for life’s little “oops.” Save up, you’ll need it!
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3.Invest, if possible but be cautious.
If you have the money to invest, it is important to do your research. Make sure you understand all the details of your investment before handing over your money
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4.Credit Cards = Emergencies Only
Charging too many things to a credit card and not being able to pay off the full balance each month will cost you- in interest and your credit score. Keep your credit card expenses to emergencies only!
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5.Slim Down on the Subscriptions
If you aren’t making the best of your subcriptions, you may want to consider canceling them. Subscriptions often come with monthly charges- so your Netflix, gym membership, magazine subcription are being taken out of your monthly budget.
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6.Spend on Experiences!
In five years that iPad will no longer be new. Spend your money on an experience that will enrich you like traveling.
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