time to buy a car, go to college or rent an apartment.
5 MONEY-SAVING TIPS FOR TEENS
3. Never start the month without a plan: At the start of the month, sit down and list everything you will need to pay for in the coming weeks. Think about how much you have, what your paycheck will be and do the math to make sure you have enough to cover it. This doesn’t have to be complicated, just a simple list on your phone so it’s always with you. Check in with your monthly plan every week or so, and make sure everything’s on track. 4. Sort out needs vs. wants: Here’s the tough part. Your favorite band is coming to town, and all your friends want to catch the show. But your phone needs a new battery, your car has a flat tire and insurance is due. It’s tempting to raid your savings account so you can do it all. Remember, your spending plan will be meaningless if you don’t stick to it. There will be times when you’ll need the conviction to
In 2018, the average college graduate faced $29,200 in
your credit report almost right away. It takes seven years
student loan debt - the highest it’s ever been - according to
before that disappears from your credit history. That can
a new report by the Institute for College Access & Success.
mean paying higher interest rates, being turned down for a
Recent data from TransUnion shows that more than half
loan or not getting hired for a job. Being smart with money
of people ages 18 to 24 who have a credit card are carrying
helps you avoid the credit trap.
Compare prices online, wait for a sale or download a digital
2. Be a saver - it’s never too early to start: What’s the best
ask for ice water; then put that money into savings. Smart
a balance. Teens need help making sound money decisions. One
way to avoid using credit cards? Build a savings cushion, so
financial literacy program pairs teens with volunteer
when unexpected costs come up, there will be no need for
mentors to create hands-on financial learning. Money
a credit card. Any time money comes in - your paycheck,
Matters: Make It Count, created by Boys & Girls Clubs of
babysitting money, birthday cash from grandma -first pay
America and Charles Schwab Foundation, is celebrating
yourself. Tuck some of it away, and watch those dollars add
its 16th anniversary. Young people have gone through the
up. Someday, that money will be there for you when it’s
program a million times since it started.
say no but make room in your budget for the fun things too. 5. Stretch your dollars: You work hard for your money. Let it work hard for you! Before you buy, shop around. coupon. If you’re grabbing lunch, skip the beverage and money moves like these can leave you with a little extra and make it easier to balance your needs, wants and savings. Creating good financial habits early in life can help you achieve your goals. Parents or teens who’d like to learn more can check with their local Boys & Girls Club, or visit the Money Matters page on BGCA.org.
Tamara Johnson served as a former ambassador for
We focus on you, so you can focus on the more important things...
the program in Santa Fe. Johnson, who earned college scholarships and now practices family law, credits the program for giving her the foundation she needed to take on the responsibilities of adulthood. As a result, she’s debt free.
Drs. Sonhui Chung & Alain Tran of Eye Connection would like to invite you and your family to our office to meet Dr. Chung and the staff; you will also receive special savings on eyewear & eyecare products!
“While I was an ambassador, so many adults told me how they wished they had started as early as I did in getting the money thing right,” said Johnson. “I would tell any teenager if they have the opportunity to take part in Money
EYE CONNECTION
Matters or any other financial literacy program, take it.
for you and your family
You’ll learn simple steps for saving, and your future self will thank you!”
Glasses • Contact Lenses • LASIK Co-Management • Pediatrics
Johnson Offers Her Top Five Tips. Sienna Office 8880 Hwy 6, Suite 200 • Missouri City, TX 77459 Phone: 281.778.2020
1. Respect the power of credit: You know how adults are always saying a bad decision can haunt you for years? That’s
www.youreyeconnection.com
definitely true with credit. Bad money habits, like maxing out your credit card or making late payments, will show on 5
