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Financial Tips for Youth


Why a teenager should/should't have a credit card
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Pros: You can use it practically everywhere, even overseas Use it over the phone, online, through mail, in stores Finical backup in case of job loss, auto repair something bad like that They build your credit history Allow to withhold payments Cons: Downfalls if used in an unwise manner Some consumers spend to much on it Go over their monthly balance Credit card fraud is a major possibility Too much credit debt ruins credit score

Investing in the stock market for teens

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Pros: Earn income form dividends Lots of websites and free help to learn how to Invest into the Stock Market Stocks beat Cash Also there is a long term growth potential

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You decided on taking your own risks, when enough is enough
Cons: Risks of banking crisis Investing into Stock market will never be Risk Free, always a danger if not used properly, debt Always read up about Investing to be for sure ready for this massive world called the Economy and Stock Exchange

Tips for winning scholarships

After lots of research for finding the best tips for winning scholarships I came across this website, not only is it accurate and very helpful it is an organization website, which makes it extremely trust worthy and it was not written by a young grad student, but instead an organization. 10 Tips on winning scholarships Also another trusted site that helps: (Below)

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The benefits of compound interest

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Anyone can benefit from compound interest Just leaving money in the bank earns interest which earns interest 100$ then interest goes to 102$, since it is compound interest the original amount of 100$ and the 2$ earns interest, so its 102$ plus the next interest

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More savings more the compound, which is great for lifetime saving
It adds up faster than you think Compound interest can free you from your credit card debt With compound interest, the benefit is bigger than the sacrifice

The relationship between postsecondary education and salary

Post-secondary education is referred to the second stage of school, College, University, ect. It is the place you go after High school. Salary is the amount of money you earn after a weekly/monthly basis. (An annual sum) These are relatable since in College or University so usually when you get your first real job, not a summer job (possibly), but a day to day job you must balance with school, to pay for rent, bills, transportation, and food. Some don’t work till after, while some start working in High-school straight through to University.

Ten money saving tips for teenagers

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1. Buy what you need not want you want 2. Always think before you buy 3. Is it a necessity, will it help you, or will you through it out later 4. Follow the shopping list before you go shopping, for food, or clothes 5. Start managing your money at a young age 6. If in doubt, say no 7. Control the risk, don’t let it control you 8. Keep receipts 9. Always do a monthly check up on your money 10. Use a bank that is a friendly user, and use compound interest

Tax loop holes -- how to pay less tax

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Buy a house, because of the write-off If you have lots of credit cards, pay them off Don’t avoid bills, pay them before you go over or into debt Hire a professional or get help if your tax situation is complicated Tax shelters

Sources Used
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